Daily News: December 13, 2012

Concord Financial Advises on $4MM ABL Revolver

Concord Financial Advisors said it acted as exclusive financial advisor to a MS-based granite and marble distributor that was struggling to secure traditional bank financing due to the impact of the economic downturn.

Concord said the company was introduced through its incumbent bank and Concord’s assessment was the company was a good candidate for an asset-based line of credit.

Concord was subsequently retained and secured a new financing relationship with a lender that provided a $4 million senior secured asset-based revolver, which included advances on in-transit inventory that was used to refinance existing debt and support working capital.

“Concord’s relationships with non-traditional asset-based lenders allowed us to secure a very competitive deal given our ongoing turnaround. We are extremely happy with our current lender,