nFusion Capital provided a $12 million asset-based line of credit for an employee-owned construction company specializing in interior and exterior wall systems, metal framed panels and partitions for commercial, institutional and industrial clients, and constructing themed facades for the entertainment and gaming industries.
The company needed additional working capital, but its bank was unwilling to increase its lending facility and sought to exit the relationship. In search of a new lender to refinance existing indebtedness and provide additional growth capital, the company found many capital providers hesitant to work through the complexities of an Employee Stock Ownership Plan’s unique accounting and regulatory characteristics. A referral source pointed the company to nFusion senior executive vice president Alexandra Scoggin and the nFusion team.
The facility provided immediate access to working capital to fund materials, inventory and payroll. With improved cash flow, the company aims to negotiate better pricing on materials and accelerate the completion of its customer’s projects. The added runway will also enable the construction company to grow exponentially and take on more opportunities.
