Flux Power Holdings secured a $15 million credit facility from Gibraltar Business Capital to fund working capital and to refinance its existing credit facility with Silicon Valley Bank.
Gibraltar Business Capital hired S.N. Thomas as a senior vice president and underwriting manager. As part of his career, Thomas spent more than 20 years at Wells Fargo, primarily in the asset-based lending group.
Jim Marasco, a senior executive leader who has served on Gibraltar Business Capital’s board of directors, is joining the Gibraltar Business Capital leadership team as head of originations
Gibraltar Business Capital launched its new equipment financing business, Gibraltar Equipment Finance, which will provide equipment loans and leases from $1 million to $20 million. Jeffry S. Pfeffer will lead the new business as president.
Gibraltar Business Capital secured an increased line of credit with Bank of America, building upon the partnership first announced in May 2021.
Serigraph, a specialty printer, closed a $20 million credit facility with Gibraltar Business Capital.
John Williams joined Gibraltar Business Capital’s business development team as a vice president of the Midwest region, covering Michigan, Ohio, Indiana, Kentucky and the Chicagoland area.
Gibraltar Business Capital supported 37th Street Bakery, a manufacturer of croissants, danishes and cinnamon rolls that serves grocery and foodservice channels, with working capital financing.
Gibraltar Business Capital provided a $10 million asset-based loan to Scent Beauty, a multi-brand beauty products company.
Gibraltar Business Capital is now able to offer asset-based loans up to $100 million.