Context Business Lending provided revolving lines of credit to three new companies: a mining technology company, an eCommerce distributor and a designer and manufacturer of consumer products.
The mining technology company needed growth capital to take advantage of favorable market conditions in the mining industry. The company required a lender that would provide a solution to both its United States and Canadian operating units. Context Business Lending provided a flexible working capital line of credit and a stretch term loan, creating the liquidity needed to execute the company’s plans. The line of credit and term loan allowed the company to meet its initial obligations and will fund its sales expansion in both the United States and Canada.
The eCommerce distributor needed working capital to support its ability to remain current in its inventory supply. Context Business Lending provided a line of credit that advances on both eCommerce A/R and high levels of inventory.
Context Business Lending also provided a new loan to a private equity-owned designer and manufacturer of consumer products. The borrower needed an increased line of credit to support its growing back log. Context Business Lending doubled the company’s borrowing facility and the line of credit advances on A/R and on inventory, including inventory considered to be work in progress.
“As the results of the pandemic continue to unfold, private lenders are uniquely positioned to provide flexible working capital solutions to sustain and eventually help rebuild lower middle-market companies,” Meredith Carter, CEO of Context Business Lending, said. “We continue to stand by our borrowers to help them through this hard-hitting time and hope that knowing they have a supportive working capital partner provides a form of relief.”
Context Business Lending is an asset-based lender focused on providing flexible working capital for lower middle market businesses.