Daily News: November 9, 2012

GemCap Completes $18 Million in Credit Facilities in October

GemCap announced it completed $18 million in credit facilities for the month of October. The deals included:

  • a $10 million debtor-in-possession facility to a Texas manufacturer of lithium phosphate rechargeable batteries;

  • a $2.23 million facility to a manufacturer of OEM parts for a broad range of products, including snow plow blades, mounts and accessories. Funding will be used for working capital as well as acquisition of product lines;

  • a $1.2 million inventory revolver to a high-end jeweler that has been providing premium jewelry and timepieces for over four decades. The new loan facility will be used to refinance the company