Chicago, Illinois · +1 (312) 555-0180
Consumer · 2024
$27M against inventory and receivables, funded in eleven days.
A personal-care manufacturer lost its largest customer in March, breached in April, and had a sale process that could not credibly start before the autumn.
We lent against inventory and receivables at an advance rate the incumbent bank could not justify, with a maturity set deliberately past the close of the sale process.
No equity, no board seat, no operational conditions beyond a monthly borrowing base certificate.
The company ran its process on its own timetable and sold in November at 2.4× the March indicative range. The facility repaid at close.
“Everyone else wanted a piece of the company. They wanted a piece of paper and their money back.”
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