LSQ, a provider of working capital finance and payments solutions, originated an $18 million credit facility for a distributor of lighting and ceiling fans serving big-box retailers nationwide. The facility includes both accounts receivable and inventory financing.
The company will use the additional capital to fund growth, innovation, new designs and improve existing products and services.
As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management. The company was referred to LSQ by a former client.
“At LSQ, we are focused on providing solutions for companies with complex financial situations” Chris Collins, regional vice president of LSQ, said. “This was one of those cases and we are appreciative of the client for trusting us to put together a combination of financing that provided them with the working capital they needed both short term and long.
“This deal wouldn’t have been possible without the trust of a former client who trusted us enough to make a referral and the inventory finance partner that helped with part of the solution.”
