Access Capital provided a $2.5 million revolver and a $450,000 term loan to Bear Staffing Services, a Florida-based provider of skilled and semi-skilled workers to industrial and manufacturing clients.
As a result of its need to finance future growth, Bear was referred by its accountant to Access Capital’s Vince Grillo. Access’ business development team then structured a financing facility to support Bear’s strategic plan.
Bear used the proceeds of the mezzanine financing to acquire a ninth branch location in Allentown, PA.
“We chose Access Capital because we believe they will give us the best opportunity to grow our business the right way. We already had a source of capital,” said Gary Johnson, co-founder of Bear Staffing. “What we were looking for was an active business partner.”