Lighthouse Financial completed a $5 million credit facility to a Pennsylvania-based distributor of abrasive blasting equipment and supplies.
Following a change in ownership in 2021, the company incurred losses but completed several strategic initiatives to return to profitability, including closing unprofitable locations and bringing in new management and sales staff. To support its ongoing operations, future growth projects and working capital needs, the company sought a new financial partner. Lighthouse structured an aggressive line of credit secured by accounts receivable and inventory that not only paid out the company’s existing lender but provided additional liquidity.
