SLR Business Credit closed a $5 million senior secured asset-based credit facility for Valhalla Fuels, a fuel transporter serving commercial customers across 15 states.
The invoice financing facility will support the company’s working capital needs, including short vendor payment cycles, and fund continued expansion of its supply and distribution network.
“With SLR, we have found a financing partner to enable us to rapidly expand our customer base and our supply and distribution footprint across the US,” Erik Younger, CEO for Valhalla Fuels, said.
SLR Business Credit worked with the company’s management team and advisor to structure a financing solution aligned with its growth and operational needs.
“We’re happy to partner with this growth-oriented business and to make flexible financial support available to the management team,” David Braff, managing director at SLR Business Credit, said. “We are excited to play a critical role in the Company’s growth trajectory as they are able to take advantage of SLRBC’s adaptable working capital facility.”
“Through this dynamic funding with SLR, we will have the ability to both open new markets and create innovative, value-add services to give our customers real-time order/inventory visibility, accurate and timely billing and “high touch” customer service—nationwide”, Gary Bevers, COO at Valhalla Fuels, said.
