Daily News: August 8, 2019

Magnolia Financial Closes Two Transactions Totaling $2.25MM

Magnolia Financial completed two transactions totaling $2.25 million.

Brief details are:

  • $750,000 revolving line of credit to company that serves property managers in making vacant rental housing ready for new tenants. The additional working capital has enabled the company to meet the strong demand for tenant-ready rental units and continue to expand its geographic market share.
  • $1.5 million line of credit to an emerging manufacturer of medical devices who shifted its target market and refocused its strategy after developing an innovative new product. With the additional funding, the company was able to take advantage of new markets as well as the increased sales potential those markets represent.