Daily News: May 16, 2012

GemCap Funds $6.5 Million to Institutional Furniture Manufacturer

GemCap announced it provided a $6.5 million credit facility to an institutional furniture manufacturer. The facility, comprised of a revolver against receivables and inventory, and term loan against machinery and equipment, allows for working capital for growth.

The company completed the transaction, from due diligence to funding in two weeks.

With headquarters in Santa Monica, CA., GemCap provides asset-based loans, ranging from $500,000 to $10 million, as a senior secured lender.