Iron Horse Credit closed a $3 million stand-alone inventory revolving line of credit to a manufacturer and distributor of agricultural equipment, parts and supplies. A referral partner introduced the client to Iron Horse Credit.
Iron Horse Credit closed a $4 million standalone inventory revolving line of credit to a manufacturer and developer of advanced alloys with a focus on specialty copper alloys and high-performance beryllium aluminum castings.
IBC Advanced Alloys secured credit facilities of up to $8 million established pursuant to a credit and security agreement among Iron Horse Credit and certain of IBC’s U.S. subsidiaries and an account sale and purchase agreement among Sallyport Commercial Finance and the subsidiaries.
Iron Horse Credit closed a $6.5 million standalone inventory revolving line of credit for a wine and spirits importer and distributor.
Iron Horse Credit hired Kristen Palmer as a business development officer. In her role, Palmer will be responsible for identifying new territories and partnership channels and building new client relationships.
Specialty finance company Iron Horse Credit hired Savi Hussain as senior vice president of underwriting. Hussain has more than 25 years of ABL experience and will be responsible for the company’s credit and underwriting operations.
Iron Horse Credit provided a $3 million stand-alone inventory revolving line of credit and Alterna Capital Solutions provided a $2.5 million accounts receivable-based facility to a manufacturer and importer of women’s footwear.
Iron Horse Credit provided a $1 million stand-alone inventory facility to an e-commerce retailer and wholesaler of sports eyewear and accessory products.
The Singing Machine Company entered into a two-year loan and security agreement for a $10 million financing facility with Crestmark on eligible accounts receivable. The company also executed an agreement with Iron Horse Credit for up to $2.5 million in inventory financing.
Iron Horse Credit has completed a $12 million stand-alone inventory facility to a plant nursery and distributor that primarily sells to home and hardware stores, big box retailers and grocery stores.