Daily News: February 10, 2017

Lawrence Financial Closes 29 Deals Totaling $120MM in 2016


Lawrence Financial Group completed 29 transactions in 2016 for a total of $120 million.

Highlights of transactions closed in Q/4 are below:

  • $7 million working capital line of credit to Kenwood, CA-based organic food operator which imports and distributes health related items, such as sesame and chia seeds. Funding will be used to fuel rapid growth and expansion.
  • $9 million term loan and revolving asset-based line to a Los Angeles nutrition fruit bar producer. These bars, sold in retailers such as Starbucks and Target, feature all-fruit, low-calorie snack products.
  • $4 million equipment loan to an Orange County bottling plant to be used by the company for its 58,000 square foot state-of-the-art bottling plant.
  • Term loan to a Spanish language newspaper
  • Working capital credit to a producer/distributor of nutraceuticals
  • Financing for an online retailer of fishing tackle
  • SBA loan for a fitness center franchisee

Highlights from earlier in the year include:

  • $10 million to Los Angeles-based furniture retail chain
  • $7 million for an importer of construction equipment
  • $6 million to reverse osmosis developer
  • $3 million provided to a golf products firm
  • $35 million facility for a California outdoor products group

Lawrence Financial also continues to increase loan availability to long-time clients, including up to $25 million to a toy importer and $10 million to a reality television producer.

Los Angeles-based Lawrence specializes in providing asset-based financing including loans secured by accounts receivable and inventory, as well as term loans on equipment and intellectual property.