US Capital Partners Leads Facility for Speculative Product Design
Wednesday, April 28, 2010
US Capital Partners (USCP) secured a $4.5 million senior secured credit facility for Speculative Product Design, Inc. (Speck), headquartered in Palo Alto, CA. US Capital Partners is a private investment bank, direct lender, co-lender and lead financial arranger that specializes in business loans for small- to middle-market companies.
The credit facility served to refinance Speck's previous line of credit, and will be used to support the company's continued domestic and international growth. Speck is best known for creating refreshing designs that offer quality, thoughtful features, and distinctive style in the iPod, cell phone, satellite radio and electronic accessory category. Its line of products can be found worldwide at Apple retail stores and at most major electronics dealers. The new credit facility arranged by USCP included an inventory revolver and an AR line of credit for both domestic and international assets. It was designed to eliminate working capital constraints and fuel domestic and international growth.
"We are delighted to have secured this financing facility for Speck," said Jeffrey Sweeney, CEO and managing director of USCP. "According to PricewaterhouseCoopers, smaller private companies will likely lead the economic recovery in 2010, especially those doing business in international markets, like Speck. These businesses are increasingly looking to capitalize on upcoming commercial growth opportunities, but they need financing that is affordable and intelligently structured. USCP specializes in arranging this for them."
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