LSQ originated a $25 million invoice finance facility for the U.S. operations of a global pharmaceutical manufacturer.
The company was referred to LSQ by a broker partner when the client outgrew its existing line of credit with its bank partner. The company is experiencing growth that was putting a strain on its working capital. The new LSQ facility will work alongside the previous bank lending relationship, increasing availability.
“We are grateful for the opportunity to work with this large pharmaceutical company as they continue their upward trajectory,” Chris Collins, senior regional vice president at LSQ, said. “Their capacity was limited by available funding, and I’m glad we could step up to fill the need and are looking forward to being a part of their continued growth. And as always, we are appreciative of the faith that the partner put in LSQ to serve the working capital needs of their client.”
LSQ was able to create the $25 million invoice facility in approximately 60 days from the initial introduction.
“LSQ’s underwriting and legal team was instrumental and diligent in completing this complex structure,” Collins said. “Without this wonderful group, we would not have funded the deal in a timely manner.”
