nFusion provided a $25 million ABL line of credit for a construction management company headquartered in the Midwestern United States.
This family-owned business was in the midst of a transfer of control to new leadership and was bumping up against the cap of its existing line of credit with a local credit union. The lender was unwilling to increase the facility size or provide access to additional working capital. Additionally, the company had experienced past financial issues that kept it from being bankable by a larger financial institution with more stringent credit criteria.
Understanding the multi-faceted challenges involved, the company’s financial advisor referred it to nFusion Capital’s Jesse Baer, who led a series of negotiations with the credit union to bifurcate the collateral and develop an intercreditor agreement. This satisfied the lender and the company’s need for an additional cash infusion.
nFusion’s financing enabled the company to improve cash flow and working capital by lending against the newly unencumbered assets. The company’s new leaders also felt confident taking on larger projects to continue their growth trajectory.
