Triangle Capital Access Co., Inc. announced the closing of a $12 million credit facility for JNet Communications, a provider of construction, fulfillment and call center services to the telecom and cable industry.

Triangle assisted JNet management in pre-underwriting the desired transaction and then worked with prospective lenders and alternative financing firms to help them through the transaction’s credit and collateral issues.

JNet needed a solution to its current and growing working capital requirements. The new structure met this need by generating additional liquidity to deal with stretched payables and the upcoming seasonal slow period. JNet selected Coral Capital Solutions because of its responsiveness and creativity in delivering the requested structure. Coral Capital was able to negotiate a subordination agreement with the company’s existing lender and other preferred equity holders that were required to close the transaction.

Triangle Capital Access Co., Inc. specializes in arranging senior debt and junior capital for SMEs experiencing financial discomfort or distress arising from weak financial performance or from rapid growth.

Coral Capital Solutions is a commercial finance company based in New York providing working capital to small- and mid-sized businesses mainly through financing purchase orders and accounts receivable, and providing asset-based loans.