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Notable ABL Transactions
Data gathered from direct sources, news releases and other public information — covers 04/03/06 through 06/30/06

LENDER(S) & ROLE
BORROWER / INDUSTRY
AMOUNT*
STRUCTURE & NOTES
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QII 2006 Transactions
GE Global Sponsor Finance
Admin Agent
United Agri Products
Distributor/Agricultural Inputs
$850.0
$675MM Revolver/$175MM Term Loan
Five-year term/six-year term, respectively
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Citigroup/Wachovia Capital
Co-Leads
Science Applications International Corporation
Provider/Technology Services
$750.0
Revolver
Five-year term; replaces $550MM revolver and $250MM revolver
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National City/Credit Suisse
Co-Leads
Ferro Corporation
Supplier/Manufacturer Materials
$700.0
$250MM Revolver/$450MM Term Loan
KeyBank served as documentation agent
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Banc of America Securities
Lead
Hilb Rogal & Hobbs Company
Provider/Risk Management Services
$425.0
Revolver
Agents incl: Bank of America, SunTrust Bank, ING Capital, PNC Bank and BB&T
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Bank of America Business Credit
Lead
PNA Group, Inc.
Processor/Steel
$410.0
Revolver
Banc of America Securities acted as sole arranger and book runner
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Merrill Lynch/CIT Capital Securities/Deutsche Bank Securities
Co-Leads
PAETEC Corp.
Supplier/Communications Solutions
$400.0
$25MM Revolver/$275MM First Lien Term Loan/$100MM Second Lien Term Loan
Used to refinance existing debt
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Bank of America Business Capital/Banc of America Securities
Co-Lead
Kellwood Company, Inc.
Marketer/Camping Apparel & Products
$400.0
Revolver
Will be used to fund acquisitions
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Bank of America Securities/J.P. Morgan Securities
Co-Leads
Kellwood Company
Marketer/Camping Products
$400.0
Revolver
Participants incl: BofA, JPMorgan Chase, Wachovia, The Bank of Nova Scotia & SunTrust
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BNP Paribas
Admin Agent
Linn Energy, LLC
Provider/Natural Gas Services
$400.0
Revolver
Participants incl: RBC, Societe Generale, BofA, Comerica, Bank of Scotland, Fortis Capital & Lehman Commercial Paper
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Scotia Capital
Lead
Kansas City Southern Industries, Inc.
Provider/Transportation Services
$371.1
$125MM Revolver/$246.1MM Term Loan
Used to refinance existing debt
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Credit Suisse/Bear Stearns
Co-Leads
Panavision, Inc.
Manufacturer/Camera Systems
$345.0
Revolver
Credit Suisse & Bear Stears also act as joint bookrunners
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Ableco/Wells Fargo Canada
Co-Lead
Pope & Talbot, Inc.
Producer/Lumber
$325.0
$75MM Revolver/$250MM Term Loan
Six-year term
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Bank of America
Lead
Quanta Services, Inc.
Provider/Contracting Services
$300.0
Revolver
Five-year term; replaces $182MM facility
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Banc of America Securities
Lead
Imation Corp.
Provider/Data Storage Solutions
$300.0
Revolver
Participants incl: Bank of Tokyo-Mitsubishi, J.P. Morgan Chase, US Bank & Wells Fargo
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LaSalle Business Credit
Admin Agent
Associated Wholesalers, Inc.
Distributor/Food
$285.0
Revolver/Term Loan
Used for acquisition of Di Giorgio
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J.P. Morgan Securities
Lead
Oglebay Norton Company
Supplier/Minerals
$230.0
$55MM Revolver/$140MM Term Loan
Revolver has a five-year term; term loan has a six-year term
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Bank of America
Lead
InfraSource Services, Inc.
Provider/Infrastructure Services
$225.0
Revolver
Replaces company's previous $85MM revolver and $84MM term loan
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Monroe Capital
Co-Lender
InfrastruX Group, Inc.
Provider/Construction Services
$220.0
Revolver
Used for working capital purposes
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Merrill Lynch Capital
Lead
World Kitchen, LLC
Manufacturer/Kitchenware
$220.0
Revolver
Supports company's recapitalization
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GE Antares Capital
Lead
Farley's & Sathers Candy Co.
Manufacturer/Candy
$202.0
$35MM Revolver/$127MM First Lien Term Loan/$40MM Second Lien Term Loan
Farley's & Sathers is a portfolio company of Catteron Partners
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LaSalle Bank
Lead
J.B. Hunt Transport Services, Inc.
Provider/Transportation Services
$200.0
Revolver
Facility expires in August 2006
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Merrill Lynch Commercial Finance
Lead
Pliant Corporation
Producer/Packaging Products
$200.0
Revolver
Replaces pre-petition revolver and DIP facility
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Wachovia Securities
Lead
Globalstar, Inc.
Provider/Satellite Voice Services
$200.0
Revolver
Thermo Company also invested $200MM in equity capital
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Monroe Capital
Lead
TLC Health Care Services, Inc.
Manufacturer/Kitchenware
$190.0
Term Loan
Supports company's recapitalization
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GE Healthcare Financial Services
Lead
Sunwest Management, Inc.
Operator/Senior Housing
$175.0
Term Loan
Seven-year term
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Merrill Lynch Capital
Joint Lead
Montecito Broadcast Group, LLC
Operator/Television Stations
$168.0
Revolver
Merrill Lynch Capital also acted as syndication agent and documentation agent
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Citizens Bank/RBS Securities
Co-Leads
GPX International Tire Corporation
Manufacturer/Specialty Tires
$160.0
Revolver
Used to finance future acquisitions
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LaSalle Bank
Admin Agent
Ennis, Inc.
Manufacturer/Business Forms
$150.0
Revolver
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GE Antares Capital
Lead
Augusta Sportswear Group, Inc.
Manufacturer/Athletic Apparel
$143.0
$45MM Revolver/$48MM Term Loan A/$50MM Term Loan B
Used in connection with acquisition of Holloway Sportswear
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Morgan Stanley
Lead
Silicon Graphics, Inc.
Designer/Computer Workstations
$130.0
$30MM Revolver/$100MM Term Loan
Replaces Silicon Graphics' pre-petition facility with Wells Fargo Foothill & Ableco Finance
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JP Morgan Chase
Lead
Heating Oil Partners, LP
Supplier/Heating & Air Conditioning Services
$125.0
Revolver
Refinances existing debtor-in-possession facility
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Bear Stearns
Lead
CKX, Inc.
Developer/Entertainment Content
$125.0
Revolver
Participants incl: UBS Securities, Bank of New York, Lehman Commercial Paper & Credit Suisse
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Wells Fargo Foothill
Lead
TRM Corporation
Supplier/ATM Machines
$105.0
Revolver
Six-year term
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JPMorgan Chase
Admin Agent
Serologicals Corporation
Provider/Biological Products
$100.0
$50MM Revolver/$50MM Term Loan
JP Morgan Securities acted as lead arranger
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CoBank
Lead
SureWest Communications, Inc.
Provider/Telecommunications Services
$100.0
$25MM Revolver/$75MM Term Loan
Revolver has seven-year term; term loan has ten-year term
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Wachovia Bank
Admin Agent
NuVox Communications
Provider/Communication Services
$95.0
$10MM Revolver/$85MM Term Loan
Participants incl: Wachovia Capital Markets, CIT & Deutsche Bank
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GE Antares Capital
Lead
Electrograph Systems, Inc.
Distributor/Display Technology
$87.0
$80MM Revolver/$7.5MM Term Loan
Revolver: five-year term; term loan: three-year term
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Merrill Lynch Capital
Lead
Intellimark Holdings, Inc.
Provider/IT Services
$80.5
Revolver
Supports Intellimark's acquisition of Impact Innovations Group
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Wells Fargo Foothill
Lead
Pre-Paid Legal Services, Inc.
Provider/Legal Services
$80.0
$5MM Revolver/$75MM Term Loan
Five-year terms
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GE Antares Capital
Lead
Audax Group
Private Equity Group
$80.0
$20MM Revolver/$60MM Term Loan
GE Originations Bank SAS served as admin agent for European facilities included in transaction
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Bank of America Business Capital
Lead
Integrated Electrical Services, Inc.
Provider/Electrical Solutions
$80.0
Revolver
BofA is also providing letters of credit
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PNC Bank
Lead
Turf Care Supply Corp.
Producer/Turf Care Products
$80.0
Revolver
Used for acquisition of LESCO, Inc.
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GE Corporate Lending
Lead
Winner Steel, Inc.
Supplier/Steel
$80.0
Revolver
Part of a total credit facility of $130MM, which also includes a $50MM term loan
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Guggenheim Corporate Funding
Lead
Quest Resource Corporation
Producer/Natural Gas
$75.0
Third Lien Credit Facility
Six-year term
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GE Antares Capital
Admin Agent
Delta Educational Systems
Provider/Educational Services
$75.0
$20MM Revolver/$55MM Term Loan
Participants incl: GE Capital Markets & Merrill Lynch Capital as co-lead arrangers and joint bookrunners
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Silver Point Finance
Lead
NaviSite, Inc.
Provider/IT Hosting
$73.0
$3MM Revolver/$70MM Term Loan
Atlantic Investors also provided a $5MM credit facility
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GE Antares Capital
Admin Agent
The Hygenic Corp.
Developer/Physical Therapy Products
$72.0
$10MM Revolver/$62MM Term Loan
Supports The Hygenic Corp.'s acquisition of PHI
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GE Antares Capital
Lead
Golfsmith International Holdings, Inc.
Retailer/Golf Equipment
$65.0
Revolver
Five-year term
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Monroe Capital
Co-Lender
United Subcontractors, Inc.
Provider/Construction Services
$65.0
Revolver
Refinances existing debt
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Wachovia Finance (Canada)
Lead
Shermag, Inc.
Designer/Furniture
$65.0
$55MM Revolver/$10MM Term Loan
Used to redeem Shermag's $22.2MM debt
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Monroe Capital
Lead
Conbraco Industries, Inc.
Manufacturer/Brass Products
$65.0
Revolver/Term Loan
Monroe also acted as syndication agent for the term loan
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GE Antares Capital
Admin Agent
CR Brands, Inc.
Distributor/Cleaning Products
$63.5
$3MM Revolver/$60.5MM Term Loan
AC Finance acted as co-underwriter
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Wachovia Capital
Lead
Commerce Energy Group, Inc.
Provider/Energy Services
$50.0
Revolver
Three-year term
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CapitalSource Business Credit Group
Lead
Dan River, Inc.
Manufacturer/Textile Products
$50.0
Revolver
Facilitates a financial restructuring
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Wells Fargo Foothill/AC Finance
Co-Leads
TransTechnology Corporation
Manufacturer/Lifting Devices
$50.0
$10MM Revolver/$40MM Term Loan
Used to retire approximately $45MM existing debt
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Wachovia Securities/Lehman Bros/Merrill Lynch
Co-Leads
Young Broadcasting, Inc.
Operator/Television Stations
$50.0
Term Loan
BNP Paribas acted as documentation agent
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Silicon Valley Bank
Lead
Covad Communications Group, Inc.
Provider/Voice Communications
$50.0
Revolver
Two-year term
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Bridge Finance Group
Lead
Interdynamics Holding, Inc.
Manufacturer/Air Conditioners
$47.5
$35MM Revolver/$12.5MM Term Loan
Refinances existing lender
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Guggenheim Corporate Funding
Lead
Overhil Farms, Inc.
Supplier/Frozen Foods
$47.5
$7.5MM Revolver/$40MM Term Loans
Five-year term
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CapitalSource
Lead
Lexington Precision Corporation
Manufacturer/Automobile Components
$45.0
Revolver
Participants incl: Webster Business Credit & DMD Special Situations
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Merrill Lynch Capital
Lead/Admin Agent
Turner Bros.
Provider/Maintenance Services
$41.0
Revolver
Turner Bros. is a portfolio company of Saw Mill Capital
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Black Diamond Commercial Finance
Lead
Zila, Inc.
Provider/Healthcare Technology
$40.0
$20MM Term Loan/$20MM Expansion Facility
Used to refinance existing debt
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LaSalle Business Credit
Admin Agent
Cloyes Gear and Products, Inc.
Manufacturer/Automotive Components
$38.9
Revolver/Term Loan
LaSalle's German affiliate, IFN Finance GmbH, also participated
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Silicon Valley Bank
Lead
ev3, Inc.
Manufacturer/Medical Devices
$37.5
$30MM Revolver/$7.5MM Term Loan
Revolver has a two-year term
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GE Capital/Monroe Capital
Co-Leads Manufacturer/Envelopes
National Envelope Corporation
Supplier/Frozen Foods
$35.0
Term Loan B
Used to purchase assets of American Envelope Company, LLC
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NewStar Financial
Lead
Carlyle/Riverstone & Cherington Capital
Equity Sponsors
$33.3
$5MM Revolver/$28.3MM Term Loans
Used for acquisition of International Logging, Inc.
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CapitalSource Finance/Webster Business Credit
Co-Lender
Lexington Precision Corporation
Manufacturer/Insulators
$30.0
$17.5MM Revolver/$12.5MM Term Loan Co-Agents
Three-year term
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CapitalSource Business Credit Group
Lead
RailWorks Corporation
Provider/Transit Construction Services
$30.0
Revolver
CapitalSource also provided a $15MM letter of credit sub-facility
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GMAC Commercial Finance
Lead
Procycle Group, Inc.
Manufacturer/Fitness Equipment
$30.0
Revolver
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GMAC Commercial Finance
Lead
Coyne International Enterprises Corp.
Provider Laundry Services
$30.0
Revolver
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Wells Fargo
Lead
uBid, Inc.
Provider/Online Auction Services
$25.0
Revolver
Three-year term
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Bank of America Business Capital
Lead
Modtech Holdings, Inc.
Designer/Modular Buildings
$25.0
Revolver
Used to refinance existing debt
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PNC Bank
Lead
Geokinetics, Inc.
Provider/Processing Services
$24.0
$12MMRevolver/$12MM Term Loan
Replaces previous $12MM facility with HSBC Bank of Canada, Calgary
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CapitalSource
Lead
IMG Holdings, Inc.
Holding Company
$22.0
$20MM Revolver/$2MM Overadvance
Refinances existing debt
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Merrill Lynch Capital
Lead
SkinMedica, Inc.
Developer/Pharmaceuticals
$20.5
$7.5MM Revolver/$13MM Term Loan
Used for working capital purposes
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Wells Fargo Retail Finance
Lead
SmartBargains.com
Retailer/Online Merchandise
$20.0
Revolver
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PNC Bank
Lead
Akrion, Inc.
Manufacturer/Microchip Cleaning Systems
$20.0
Revolver
Includes a $10MM sub-limit secured by PNC
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Wells Fargo Foothill
Lead
Source Medical Solutions, Inc.
Provider/Information Management Solutions
$18.0
Revolver
Used to fund product development
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Silicon Valley Bank
Lead
Telular Corporation
Supplier/Wireless Products
$15.0
Revolver
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Webster Business Credit
Agent
Bulova Technologies, LLC
Manufacturer/Electronics
$14.5
Revolver
Three-year term
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GMAC CF Retail Finance Group
Lead
Fair Vane Corporation
Retailer/Clothing
$12.5
Revolver
Used to facilitate Fair Vane's growth in the United States
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GMAC Commercial Finance
Lead
Interbath, Inc.
Manufacturer/Shower Systems
$10.0
Revolver
Used for working capital purposes
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Business Alliance Capital Company
Lead
Drinks Americas Holdings, Ltd.
Distributor/Beverages
$10.0
Revolver
Used to develop product lines
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PNC Business Credit
Lead
Golden Peak Equity
Private Equity Group
$10.0
Revolver
Steel City Capital provided an additional $4MM in second-lien financing.
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PNC
Lead
Laud Collier & Company
Private Equity Firm
$9.5
Revolver
Supports acquisition of Oneida Molded Plastic
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Sovereign Bank
Lead
InfoLogix
Provider/Mobile Computer Solutions
$9.5
Revolver/Term Loan
Used to refinance existing debt
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Marquette Business Credit
Lead
Purafilter 2000
Manufacturer/Air Filters
$7.5
Revolver/Term Loan
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Marquette Business Credit
Lead
Computer Products & Services, Inc.
Distributor/Computer Parts
$4.9
Revolver
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Marquette Business Credit
Lead
Universal Plastic Mold, Inc.
Manufacturer/Plastic Moldings
$4.8
Revolver
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Marquette Business Credit
Lead
Newline Products, Inc.
Manufacturer/Marker Boards
$3.0
Revolver
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Wells Fargo Business Credit
Lead
Simtek Corporation
Supplier/Computer Parts
$3.0
Revolver
Used for working capital purposes
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Marquette Business Credit
Lead
McDonald Packaging
Manufacturer/Boxes & Crates
$2.5
Revolver
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Marquette Business Credit
Lead
Harry T. Williams Lumber Company
Distributor/Lumber Products
$2.0
Revolver
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GMAC Commercial Finance
Lead
Drifter Industries, Inc.
Manufacturer/Apparel
$2.0
Factoring Facility
One-year term
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GE Technology Lending
Lead
Syntricity, Inc.
Provider/Software
$1.5
Revolver/Term Loan
Used for working capital purposes
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SVB Silicon Valley Bank
Lead
AllInternetNow (SmallBizManager, LLC)
Website/Telecommunications Services
$1.0
Revolver
Provides additional working capital
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* Deal Size in Millions

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