Commercial Finance Partners provided a $500,000 revolving credit facility to an oil and gas service provider.
As part of Commercial Finance Partners’ new platform to fund both term and revolving credit facilities, it originally provided a SBA 7(a) $5 million acquisition loan to help the oil and gas provider’s sponsor acquire the company. Shortly thereafter, the oil and gas service provider needed additional funding to support growth and Commercial Finance Partners achieved this by providing a revolving line tied to receivables.
“Expanding our balance sheet programs is a core focus of our growth in 2021,” John Buanno, director of operations at Commercial Finance Partners, said. “By providing dual capital sources and partnering within an SBA structure, we are able to give the client the appropriate structure to not only acquire the business but provide ongoing support for the growth plans.”
