Gibraltar Business Capital is partnering with Millard Lumber, a distributor of lumber and other building products. The Omaha, NE-based Millard has seen strong continued sales growth, creating a need for expanded credit. In addition, in order to help gain cost efficiencies, Millard knew it needed expanded lending capacity on its working capital assets.

Gibraltar stepped in at the request of Charter Hill Partners, a Nebraska boutique investment bank engaged by Millard to assist with the refinancing. The deal was an ideal fit for Gibraltar’s asset-based lending product, and Gibraltar quickly closed on the $12 million revolving credit facility.

The custom structure includes increased advance rates on accounts receivable and inventory, which is designed to free up additional debt capacity to help Millard meet growing working-capital needs.

Gibraltar partners regularly with financial sponsors, restructuring advisors, investment bankers and commercial bankers to set up creative financing for businesses in all sectors that need working capital lines of credit to achieve growth and financial goals.