Daily News: December 6, 2019

Lawrence Financial Closes $75MM in Fundings in Q2 & Q3


Lawrence Financial closed $75 million in fundings in the second and fourth quarters of 2019.

Highlights of Q3:

  • $7.5 million to a 40-year-old Lynwood, CA, manufacturer of robotic massage chairs.
  • $5 million for Los Angeles based distributor of nutrition bars. The bars are sold at retailers such as Starbucks and Target.
  • $1 million term loan to a producer of bottled drinks. This term loan was funded in seven days. Previously, Lawrence had furnished the company term loans on equipment and working capital lines of credit.

Lawrence funded two revolving credit operating loans in conjunction with its joint venture partner, FSW Funding of Phoenix:

  • Company which produces light weight ballistic shields. Money was needed to fulfill orders from Los Angeles area schools and campuses. In addition to providing a working capital line, arrangements were made for purchase order loans to facilitate the production of the shields.
  • Manufacturer of moisturizing face masks.

Highlights from previous two quarters:

  • $14 million for a Los Angeles contract manufacturer of shampoo and other items sold in Costco and other big box retail firms.
  • $8.5 million for a famous name brand sun-glass firm. Other products include ski and swim goggles.
  • $5 million for an innovative developer/manufacturer of electronic consumer articles such as a self-warming coffee cup.
  • $4 million to a dealer/installer of fitness equipment
  • $2 million purchase order line for a long-time client of Lawrence Financial.
  • $1 million sub-debt for a candle manufacturer/distributor. The company, which already had a $5 million loan from a bank, had maximized availability and needed the additional funding to pursue expanding opportunities.
  • $1 million purchase order line to a proprietary cosmetics firm. Money was needed for building kiosks in the Rite Aid Drug chain to display its complete array of face products for women.