Lawrence Financial closed $75 million in fundings in the second and fourth quarters of 2019.
Highlights of Q3:
- $7.5 million to a 40-year-old Lynwood, CA, manufacturer of robotic massage chairs.
- $5 million for Los Angeles based distributor of nutrition bars. The bars are sold at retailers such as Starbucks and Target.
- $1 million term loan to a producer of bottled drinks. This term loan was funded in seven days. Previously, Lawrence had furnished the company term loans on equipment and working capital lines of credit.
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Lawrence funded two revolving credit operating loans in conjunction with its joint venture partner, FSW Funding of Phoenix:
- Company which produces light weight ballistic shields. Money was needed to fulfill orders from Los Angeles area schools and campuses. In addition to providing a working capital line, arrangements were made for purchase order loans to facilitate the production of the shields.
- Manufacturer of moisturizing face masks.
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Highlights from previous two quarters:
- $14 million for a Los Angeles contract manufacturer of shampoo and other items sold in Costco and other big box retail firms.
- $8.5 million for a famous name brand sun-glass firm. Other products include ski and swim goggles.
- $5 million for an innovative developer/manufacturer of electronic consumer articles such as a self-warming coffee cup.
- $4 million to a dealer/installer of fitness equipment
- $2 million purchase order line for a long-time client of Lawrence Financial.
- $1 million sub-debt for a candle manufacturer/distributor. The company, which already had a $5 million loan from a bank, had maximized availability and needed the additional funding to pursue expanding opportunities.
- $1 million purchase order line to a proprietary cosmetics firm. Money was needed for building kiosks in the Rite Aid Drug chain to display its complete array of face products for women.
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