UMB Capital Finance recently closed four asset-based credit facilities with commitments in excess of $71.8 million. The facilities were for Cedarlane Natural Foods, a manufacturer and distributor of low-fat, frozen vegetarian and vegan entrees; The O’Gara Group, a global security products and services company; R.E.L.A.M., a provider of MOW solutions; and Scott’s Liquid Gold, a company developing, marketing and selling household and personal care products.
These long-term financing accommodations include revolving lines of credit, equipment term loans, capex lines and cash-flow loans. The financing solutions will enable these clients to meet their working capital needs, refinance their existing debt and purchase additional equipment.
“The UMB team is a great group of professionals that have excellent knowledge in our business. Their ability to listen and work with their customers in good times and bad makes them stand above the rest.” Neil Holms, CFO of Cedarlane Natural Foods, said.
“After a thorough and careful selection process, we are pleased to enter into this new facility with UMB Bank,” Dominic L. Hunter, CFO of O’Gara, said. “This new line of credit and banking relationship strengthens our balance sheet resources and supports our strategic growth initiatives for the foreseeable future.”
“We were highly impressed with UMB’s knowledge of the defense industry and their ability to close quickly, especially considering the challenges of the COVID pandemic. The UMB team demonstrated flexibility and responsiveness to the company’s business needs and will allow O’Gara to continue its growth.” Zia Uddin, partner of Monroe Capital said.
“We are excited about our new relationship and facility with UMB,” Kevin A. Paprzycki, CFO and director of Scott’s Liquid Gold, said. “UMB demonstrated the capacity and flexibility that Scott’s needed, enabling us to close the Biz and Dryel acquisition during difficult financing markets. We are excited about entering into a long-term, value creating partnership with UMB.”