Daily News: June 26, 2013

US Capital Partners Provides Facility for Industrial Minerals Company

US Capital Partners provided a multi-million dollar accounts receivable line of credit for a well-established and expanding corporation engaged in the mining, processing, marketing and distribution of commercial-grade minerals.

US Capital Partners is a private investment bank that makes direct debt investments, participates in debt facilities, and arranges equity placements for small to lower middle-market companies.

The industrial minerals corporation, which serves customers throughout the West, Midwest, and Canada, has strategic plans to expand its processing capabilities and take advantage of new market opportunities, not only in the United States but also in Asia. The new financing by US Capital Partners will be used to pay down a seller note and support the company’s growing working capital needs.

“We are extremely pleased to be supporting the current and future working capital needs of this expanding business,” said Jeffrey Sweeney, CEO and managing director at US Capital Partners. “The company approached us for a scalable accounts receivable line of credit and an equipment term loan for a management buyout. So far, we have provided an initial multi-million dollar line of credit, and we look forward to supporting the company’s growth further in future.”