Gerber Finance provided a $3 million line of credit to Karay Metals, a women-led supplier of steel tubing. The deal was made under Gerber Finance’s core division, which services companies seeking $500,000 to $10 million in financing.
Gerber Finance has been exceptionally busy in 2020. In addition to dealing with the COVID-19 pandemic, the company installed Jennifer Palmer as its new CEO and launched two divisions to better serve existing and prospective clients. Through it all, the company has maintained its dedication to service while keeping an eye on the future.
Gerber Finance provided an $11 million line of credit to a Brooklyn-based real estate holding company. The transaction is the second deal under Gerber Finance’s new Gerber+ division.
Gerber Finance provided an additional line of credit to Designer Protein in partnership with PCG Investors. Designer Protein will use the funding to buy back stakeholder shares and expand the brand into a broader line of active lifestyle products.
Gerber Finance launched Gerber+, a division that services businesses seeking funding ranging from $10 million to $25 million. The company’s first client is Molded Acoustical Products of Easton, a full-service insulation manufacturing solutions company.
Gerber Finance, an asset-based lender for companies experiencing accelerated growth, closed a line of credit to Cerebelly, a maker of organic baby food. Cerebelly joined Gerber’s baby care product specialty under its recently launched Naturally Gerber Finance division.
Gerber Finance launched Naturally Gerber Finance, the company’s newly formed division focused on the natural products market. Andrew Hollingsworth, former CFO at Numi Organic Tea, who was hired by Gerber Finance earlier this year, will helm the new division.
Gerber Finance hired three new full-time employees, including Graham Nelson as a collateral analyst in the California office, Hailey Williams as a collateral analyst in the New York office and Kelly South as marketing and communications coordinator.
Gerber Finance completed it CEO succession strategy, naming longtime President Jennifer Palmer as CEO with Founder Gerald Joseph transitioning to strategic advisor and chairman of the board.