Lawrence Financial Group funded more than $75 million in capital across six facilities during Q3/20, including:
- A $30 million revolving line of credit to a manufacturer of adhesive shelf liners and other household items. The facility grants the firm money to fuel its growth and expansion. Founded in 1980, the company develops new houseware items such as school supplies, soaps, detergent and skincare products.
- $20 million provided to an automotive products distributor for convenience, grocery and hardware stores. The company, based in Rialto, CA, pivoted to manufacturing hand sanitizers when it experienced high demand from its customer base.
- $5 million arranged for an importer of thermometers. These instruments, such as dual scan ear and forehead digital items, have become in short supply during the COVID-19 pandemic. Customers include stores such as Target and Bed Bath as well as internet sellers such as Amazon. Lawrence also facilitated a purchase order line of credit for the operation.
- $4 million supplied to a California solar concern. The company designs and manufactures proprietary systems to mount solar panels and accessories for residential sloped roofs. The company currently sells to solar distributors, regional contractors and select national contractors.
- A $2 million term loan for equipment was arranged for a space vehicle provider. Founded by the original team from SpaceX, the entity has developed a rapidly deployable ground launch system. Contracts have been secured from the government to fulfill the needs of national security missions.
- A $2 million loan facility was provided for an e-commerce seller of men’s shoes. The company has developed a premium Italian leather dress shoe and sales of the shoes have grown substantially.
Additionally, Lawrence facilitated more than $10 million in Paycheck Protection Program loans through an arrangement with a lending institution.