Rosenthal & Rosenthal completed four factoring and asset-based lending transactions totaling nearly $30 million in the final stretch of 2023.
The first transaction was with a California-based apparel company that was unable to secure credit protection on one of its key customers. Knowing that Rosenthal has relationships and expertise in the retail and apparel sector, one of the company’s trusted advisors made an introduction. Rosenthal provided a $25 million loan on more than $100 million in factoring volume and was able to offer credit protection not only on the key customer but also higher credit limits on several other customers.
The second transaction was with another California-based apparel company that was seeking additional financing to support its continued growth plans. An attorney familiar with Rosenthal’s work made an introduction and Rosenthal was able to provide $5 million in factored volume with a loan size of $1 million.
The third transaction was with a surf and skate accessories company based in California that was familiar with Rosenthal and was interested in leveraging the firm’s expertise and credit and collections experience in the surf and skate industry. Rosenthal provided a loan facility of $1 million on $7 million in factored sales.
The final transaction was with a Texas-based hair care company that was seeking an alternative financing solution after missing out on a sales opportunities when it did not have the liquidity needed to purchase new products. Rosenthal was able to offer more availability than the company’s existing lender and provided a $2.5 million asset-based lending line that allowed the company to bring in more products to increase sales.
“We were pleased to finish out 2023 strong, providing these four different companies with much-needed liquidity and the working capital they need to grow and pursue important sales opportunities,” Maria Contino, western region sales manager at Rosenthal, said. “In this period of continued economic uncertainty, clients really appreciate Rosenthal’s speed, flexibility and deep knowledge and expertise across different industries.”
