Continental Business Credit has closed an asset-based accounts receivable and inventory lending facility to a veteran-owned manufacturer of nylon tactical gear sold to branches of the U.S. military, law enforcement, and medical organizations. The $1 million facility will be used to provide additional working capital to support its growing business.
Jason Carmona, ABL manager at Continental said, “We are pleased to finance a company that has strong management and who are committed to developing quality innovating products. We look forward to serving as their lending partner.”
“This is a solid piece of business for us and we are thrilled to support a U.S. military veteran,” said Continental CEO Matthew Begley. “Over the past several years, we have worked closely with charities that benefit our veterans and their families because of the personal connections our employees have with both active duty and retired service members.”
Headquartered in Los Angeles, Continental Business Credit is a nationwide, privately-owned commercial finance company providing senior secured lines of credit up to $7.5 million to small and mid-sized companies operating across a wide range of industries in the U.S.