Lighthouse Financial provided a $3.0 million revolving line of credit and a $300,000 term loan to a manufacturer of industrial and musical instrument wire.

Founded in 1912, the company was one of the first American piano wire companies and the first to patent manufacturing processes for piano wire. Beyond piano wire, the company also manufactures guitar string and specialty wires used for mechanical springs and for the automotive and defense industries

The credit facility was designed to refinance the existing debt and provide additional working capital. Lighthouse was able to structure a facility against accounts receivable, inventory and machinery & equipment which improved upon the existing structure thus increasing working capital availability.