LSQ, a provider of working capital and payments management solutions, originated a $3 million account receivable credit facility for a Georgia-based auto parts manufacturer.
A wealth management advisor referred the company to LSQ. The company will use the additional working capital to pay off an existing line of credit and support manufacturing growth after a change in ownership.
As part of the partnership, LSQ will also provide the company with accounts receivable and customer credit management.
“The manufacturer is in a great place for explosive growth in their business and the additional working capital and services from this facility gives them the tools to take advantage of the available opportunities,” Chris Collins, a senior regional vice president at LSQ, said. “We appreciate the faith they put in LSQ as a trusted partner in their success and the confidence the wealth management advisor has in us to support their client.”
