Rosenthal Capital Group (RCG), a private commercial finance firm in the United States, completed a $10.5 million asset-based loan (ABL) facility for a leading textile manufacturing and distributor based in New York.
The client was seeking an alternative lender after its existing bank changed its lending parameters. Already familiar with RCG through long-standing relationships with key executives, the senior management team approached RCG to explore alternative financing options. RCG was able to step in quickly and provide a $10.5 million ABL facility, giving the company the support it needed to continue to serve its global customer base.
“This transaction is a great example of how important strong relationships, solid reputation and building trust are for companies seeking a new or alternative lender,” Peter Clement, senior vice president and business development officer at RCG, said. “We were the right fit for this client, not only because they were already familiar with RCG’s tailored solutions and personal service, but because we are forward-thinking and structure working capital facilities that are focused on collateral, present performance and future projections.”
