Daily News: June 5, 2012

Gibraltar Business Capital Closes Two Deals Totaling $5.5MM

Gibraltar Business Capital (GBC) said it has closed a $5 million revolver for an IN-based company engaged in the design, import, manufacture and marketing of residential and commercial furniture. The new facility refinances an existing lender with a more flexible structure as desired by the company. GBC closed the facility two weeks from the date of engagement.

GBC also has closed a $500,000 factoring line of credit for a GA-based startup company specializing in high quality ice creams targeting high-end grocery stores and restaurants. The facility is the young company’s first and will be used for working capital purposes to support the continued rapid expansion of the business.