Daily News: July 19, 2017

Lawrence Financial Closes $10MM Fundings in H1/17


Lawrence Financial Group has funded more 20 transactions totaling more than $100 million during the first six months of 2017.

Highlights of some of the more significant arrangements closed in Q2/17 included:

  • $45 million purchase of accounts receivable for a long established Los Angeles furniture retailer seking to monetize its portfolio of consumer contracts.
  • $7.5 million working capital revolving line of credit was facilitated for a San Diego based marketing services firm.
  • $5 million for a South Carolina-based distributer of printing cartridges and the like. Founded in 1985, its primary distribution relationship is with Ricoh of Korea. The line of credit was arranged as a cross border financing.
  • $4 million receivables working capital line of credit for a PVC manufacturer headquartered in Santa Paula, CA.
  • $5 million seasonal inventory term loan was received by a California toy import and distribution concern.
  • $2 million line of credit was for a Sun Valley AV distribution firm.
  • $3 million facility was provided for a high tech staffing company based in San Diego.
  • $1.5 million purchase order financing for a Scottsdale, AZ, manufacturer and distributor of holiday storage containers.
  • $1 million as a capital placement for a flexible staffing firm in Long Beach, CA and Orange, CA.

Highlights of significant deals arranged in the Q1/17:

  • $10 million revolving line of credit for a Rancho Dominguez, CA, tire manufacturer and retread operation. The borrower is part of a Korean public company.
  • $9 million for a woman-owned home care and therapy concern based in Santa Ana, CA.
  • $3.5 million term loan for an Orange County, CA water bottling plant.