Garrington Capital, a senior secured, asset-based lender to the middle market, provided a $20 million revolving line of credit to a U.S. company that provides short-term loans to small and mid-sized businesses.
The facility gives the company the working capital to support the continued growth of its client base. Prior to the facility, the company had been capital constrained, at times turning down opportunities it did not have the capital to fund.
Garrington structured the facility around the company’s collateral, drawing on its detailed, data-driven reporting to calculate availability with precision.
“The team we worked with brought the discipline and transparency we look for,” Erica Axani, executive vice president and chief risk officer at Garrington Capital, said. “That let us structure a facility around real, quality collateral, which is what let us move forward with confidence.”
With this facility, the company now has the capacity to take on new clients with the confidence that it has the working capital in place to support them.
