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.