Commercial lender Continental Business Credit funded a $1.5 million accounts receivable and inventory facility for a growing health and personal care manufacturer.
The facility will be used to provide additional working capital to support its expansion into national retail stores.
Jason Carmona, ABL manager at Continental, said, “Continental is on a mission to provide creative, flexible lending solutions to borrowers with a wholesale and direct to consumer focus. We are excited to finance entrepreneurs of a company early in the business cycle, in a hyper growth industry.”
“This is a great transaction for us. The company has positioned itself well for future growth and we look forward to being part of the next phase of the business,” added Continental CEO Matthew Begley.
Headquartered in Los Angeles, Continental Business Credit is a nationwide, privately-owned commercial finance company which provides lines of credit of up to $7.5 million to small and mid-sized companies operating across a wide range of industries in the U.S.