Gerber Finance provided a $3 million line of credit to Karay Metals, a women-led supplier of steel tubing. The deal was made under Gerber Finance’s core division, which services companies seeking $500,000 to $10 million in financing.
Karay Metals is an importer and wholesale distributor of cold drawn mechanical DOM and steel hydraulic tubing, servicing companies across a range of industries, including machine manufacturing, automotive, agriculture and petrochemical. It is the first company in this industry in Gerber’s portfolio.
“Our company has been in the same family since its inception in 1947,” Sue Karayannides, CEO of Karay Metals, said. “The international metals market is known to be mercurial and we have not only survived, transitioned and remained profitable, but established an enviable reputation for customer service. We look forward to working with the very accessible and supportive people at Gerber Finance to continue [our] growth and momentum.”
“The power of partnership is important to Gerber Finance,” Jennifer Palmer, CEO of Gerber Finance, said. “We’re incredibly enthusiastic to cultivate a close relationship with Karay Metals through our high touch approach and people-first team. As a female CEO, it’s been a personal goal of mine to help more women leaders understand the benefits of debt and work with more women-led companies.”
