North Mill Capital provided a $1.5 million asset-based credit facility to PRC Laser. The funds were used to repay a previous lender and provide additional working capital to support growth.
PRC Laser distributes and services lasers used for industrial applications. It is headquartered in Charleston, SC.
“PRC Laser is very happy to have North Mill Capital as our new ABL lender,” Walter Wilson, president of PRC Laser, said. “The team at North Mill took the time to understand our business, our cash flow needs and provided us with an excellent product. We look forward to a long relationship with North Mill as we grow our business.”
North Mill Capital provides asset based loans and factoring facilities from $50,000 to $30 million.
