Designer, Manufacturer and Installer of Point-of-Sale Displays
$1,500,000 Line of Credit
A designer, manufacturer and installer of point of sale purchase displays was asked to find alternative financing from their existing bank due to interim losses from a legal settlement. The company’s business was very seasonal as most retailers spend heavily on marketing in the third and fourth quarters. The company was also awarded a new contract with an existing customer that would represent additional annual volume of $5,000,000 for 2011. The company had revenue of $10,000,000 for 2010 and was projecting volume of $15,000,000 for 2011.
First Community Financial extended a $1,500,000 line of credit to refinance the existing bank line and provide for growth. First Community allowed for a significant increase in the customer concentration limit to accommodate the company’s new $5,000,000 contract.
