LSQ originated a $5 million credit facility for a Texas-based commodities logistics company, which will use the capital to fund growth with several steel manufacturers. Prior to the new facility, the company had a relationship with LSQ through one of its customer’s supply chain finance programs.
“This is a perfect example of a client that had been working with LSQ to solve its working capital needs with one buyer but needed support with its other customers,” Vikas Shah, chief revenue officer at LSQ, said. “Now they have a comprehensive solution with LSQ FastTrack that will allow them to manage all of their receivables in one place and combine A/R and supply chain finance to grow their business.”
“Growing this facility is proof positive that the client is happy with the service that we offer, from the affordable funding to the usability and efficiency of the platform,” Kyle A. Rich, vice president and business development officer at LSQ, said. “We are excited for their growth possibilities and the part we can play in it.”