Crystal Financial closed a $26 million senior secured facility for Gibraltar Capital Advance. Founded in 2012, the company is a provider of cash advances to small businesses seeking growth capital. Based in Chicago, GCA is a subsidiary of Gibraltar Capital Holdings, which also operates Gibraltar Business Capital.
Proceeds from this facility will be used to execute the company’s strategy of continued growth by providing more small businesses with access to attractive non-bank financing solutions.
“We needed a financing partner with prior experience in our industry, who would understand and value our track record, to provide a facility that would generate maximum levels of liquidity and fund our growth,”said Jim Teppen, GCA president. “There is no question that Crystal Financial’s Chris Arnold and the team distinguished themselves very quickly and executed a transaction that met and exceeded our expectations. We look forward to a long-term productive relationship.”
Crystal Financial, a portfolio company of Solar Capital, is an independent commercial finance company that provides senior and junior secured loans for both asset-based and cash flow financing to middle market companies.