Mountain Ridge Capital (MRC), an asset-based commercial finance company, previously provided a $30 million asset-based lending facility to a family-owned, multi-generational, footwear design company. The company has successfully refinanced with a bank facility.
The company came to MRC two years ago to refinance its existing ABL it had closed 3 months prior. The company’s new lender did not fulfill promises it made prior to closing and further restricted liquidity after closing. MRC was able to quickly provide a creative borrowing base structure and additional liquidity to support the company’s business objectives. As a result of MRC’s liquidity support, the company’s financial performance has improved and has successfully refinanced its facility with a lower cost, bank led asset-based loan.
Craig Winslow, CEO of MRC, said, “We never like to see a borrower refinance its facility with us; however, our mission is to be a provider of unique and creative capital solutions to middle market businesses that value speed, sophistication and greater liquidity. We are proud to have provided all of these attributes which helped contribute to the company’s success story. We thank the company for their partnership throughout our relationship and wish them continued success.”
