Graystone Capital issued a $500,000 credit facility to a Silicon Valley-based precision milling and machine shop company. The manufacturer provides the high technology sector with engineering support, tooling, fixture design and fabrication.
The company plans to utilize this financing arrangement to enhance their working capital needs. Graystone Capital was able to extend this revolving line of credit based on the strength of its aerospace customer base and longevity as an industry leader.
“Our elastic asset-based lending style fits nicely for their flexible capital needs,” Kevin O’Hare, CEO of Graystone Capital, said. “It became an even more compelling credit facility because we were able to deem eligible their largest customer by sometimes increasing their concentration limit to as much as 75%.”
Graystone Capital is a direct lender that specializes in asset-based lending services designed to support the growth of American companies.