Daily News: April 28, 2016

Super G Provides $1.25MM 2nd Lien Loan to Complement Bibby ABL

Super G Funding closed a $1.25 million second lien loan to complement an ABL provided by Bibby Financial Services.

The client recently transitioned from a commercial bank lender to Bibby Financial Services. The company required a seasonal over-advance to build inventory and maintain vendor relationships to fulfill anticipated sales orders for the holiday season.

Super G was able to get comfortable with the company’s operating history, 2016 growth initiatives, management team and seasonal cash flow. Underwriting and the funding approval process of the second lien loan took place quickly, allowing Bibby to reduce its over-advance position. This provided the company with enough liquidity to meet immediate seasonal production demands.

Super G Funding is an alternative lender with over $100 million in committed capital specializing in residual and cash flow loans.