LSQ originated a $1.5 million credit facility for a manufacturer of custom glass and insulated glass units. The company needed the liquidity boost to continue its growth.
“This group has a very exciting trajectory with some new accounts on their books,” Chris Collins, senior regional vice president of LSQ, said. “However, to continue their expansion, they need capital beyond their existing credit facilities. We worked closely with their existing bank to quickly create a solution that allowed the manufacturer to take advantage of the new opportunities while maintaining their existing banking relationships.”
In addition to the finance facility, LSQ provided the manufacturer with an accounts receivable solution, including collections and credit management. According to Collins, the client’s existing bank relationship and the work of the LSQ underwriting team allowed the client to be funded in 20 days from initial introduction.
“This is the type of solution that we can quickly put together when we leverage the preparedness of the client and their existing bank,” Michael Singer, senior vice president of underwriting at LSQ, said. “When we get a referral that has a working capital need, they are motivated and educated with the underwriting process. In this case, the client had their financial package prepared, which greatly expedited the process.”
