Crossroads Financial provided a $1.5 million inventory revolver to a chemical processing and manufacturing company.
Located in Texas, the company has been a family-run business since 1970. It specializes in contract manufacturing and tolling and supplies its products to chemical companies.
When the company’s sales declined over the last 12 months during the COVID-19 pandemic, its previous lender requested that the company exit the financing relationship.
A factor brought in Crossroads Financial to provide an inventory revolving line of credit in conjunction with the factor’s factoring facility. Crossroads Financial assisted the client in taking out its previous lender while also providing additional working capital.
