Lawrence Financial Group Provides Financing Highlights from Q1/21

Lawrence Financial Group reported its results for Q1/21. Among its highlights from the quarter, the company:

• Funded $10 million for a school bus wholesaler. A Chicago-based private equity fund sought a flooring line for its investment in school buses. The existing lender was concerned about the effect the COVID-19 pandemic had on the business. Lawrence Financial Group found a new source that was more suited to the client’s needs.

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• Provided $9.5 million to a Philadelphia-based marketing firm. As a distributor of direct mail, the company was acquiring a digital marketing operation. Its current bank had been dragging the process for acquisition financing. Lawrence Financial Group arranged the appropriate financing for the purchase as well as working capital.

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• Arranged $6 million for a Los Angeles hotel. Due to the COVID-19 pandemic, the hotel had to temporarily close. Lawrence Financial Group secured necessary lines of credit to facilitate the reopening of the hotel.

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• Supplied $5 million to a health staffing operation through a partnership with FSW Funding. The borrower received a California contract to set up COVID-19 vaccine clinics and needed capital to hire the necessary personnel to fulfill the contract.

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• Furnished $2 million sub-debt term debt for a California flooring manufacturer, which had commenced construction on an expansion into Las Vegas. The manufacturer’s existing bank wanted to keep the line of credit, but more money was required. Lawrence Financial Group identified a mezzanine fund for this need.

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• Issued a $2 million factoring facility to a manufacturer of sugar-free energy drinks for kids. The product was featured on Shark Tank, leading to huge demand for the drinks. The solution sourced by Lawrence Financial Group allowed the company to meet orders. Lawrence Financial Group’s joint venture partner, FSW Funding, funded the facility.

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• Supplied $1 million in term debt to a California tomato grower. In 2020, Lawrence Financial Group arranged a line of credit for the farm. Subsequently, the farm had to purchase more equipment due to demand from grocers for sun-dried tomatoes. An equipment lender offered lease financing for the new equipment.

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• Lawrence Financial Group also facilitated Paycheck Protection Program loans for its customers in conjunction with a banking institution during the quarter.

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