LSQ, a provider of working capital and payments management solutions, originated an $8 million credit facility for a Texas-based paint and paint products manufacturer and distributor. The company, which also has retail operations, will use the additional working capital to manage seasonality within their industry and build inventory for upcoming peak demand.
As part of the partnership, LSQ will also provide the company with comprehensive accounts receivable and customer credit management. The enterprise, which is a private equity portfolio company, was referred to LSQ by a strategic banking partner.
“Too often we see businesses get trapped in this vicious cycle of an accounts receivable and accounts payable timing mismatch,” Chris Collins, senior regional vice president at LSQ, said. “With this new facility, the company can ramp up inventory for the spring and summer when the demand for paint is at its highest. As always, we are proud to have been selected by the company and the private equity firm as a partner and are thankful for the referral.”
