Manufacturer and Distributor of Oxygen Analysis and Delivery Products
$2,000,000 Line of Credit
A manufacturer and distributor of oxygen analysis and delivery products sought new financing after its existing lender froze its line of credit of $1,350,000 and began amortizing its exposure under the line. The company was slightly profitable with revenue of $12,000,000 for 2010. The company needed to close quickly because of pressure from its existing lender and the need to clean up past due payables.
First Community Financial provided a $2,000,000 revolving line of credit with a $350,000 foreign accounts receivable subline and a $400,000 inventory subline. The main reasons for choosing First Community included availability under the credit facility, responsiveness and flexible structure and covenants.
