Lighthouse Financial provided a $6.5 million credit facility to an Ohio-based manufacturer of precision machined components. The company’s capabilities in micro and high precision manufacturing has allowed it to serve a variety of high-technology markets, including aerospace, diesel/off-road vehicles, fluid power and medical/dental devices.
The company experienced revenue decline during the COVID-19 pandemic as a result of customer shutdowns followed by supply chain challenges. Despite efforts to increase sales and reduce expenses, the company needed to find a new lending partner to support working capital and growth. Lighthouse Financial structured an aggressive line of credit secured by accounts receivable and inventory to support the business as it returns to profitability.
