Gibraltar Business Capital closed on a new $5 million credit facility with a Missouri-based manufacturer. The facility was constructed as a line of credit based on the company’s collateral — accounts receivable, inventory, and machinery and equipment.
Headquartered in Kansas City, MO, this new client has been in business since 1952. The company manufactures, supplies, designs, markets, sells and services refueling and related equipment. Its products include refueling products and hydrant dispensers, propane and vacuum products, and above-ground fuel storage systems. The company supplies fueling companies, oil companies, commercial airlines, the military, environmental end markets, freight distribution companies and fuel marketers.
Recently, the company was purchased by a private equity group. One of the first steps after the purchase was to look for funding to stabilize cash flow.
Gibraltar Business Capital offers credit facility capacity between $2 million and $20 million to serve mid-market businesses.
