$13.5 Million Asset-Based Line of Credit for a high-tolerance component manufacturer located in the NE United States
SLR Business Credit is pleased to announce the funding of a $10,000,000 ABL RLOC for an over 80-year-old manufacturer of custom precision components for the medical, energy, nuclear, aerospace, defense, and oil & gas industries.
The funds were used to pay off their current lender and provided additional working capital for growth.
The Company had experienced some losses due to a slower economy. Their bank was unwilling to renew and increase their facility after experiencing lender fatigue. The Company was then referred to SLR Business Credit by an operational consultant.
In addition to the RLOC, SLR was able to provide a $3,500,000 term facility secured by equipment.
SLR Business Credit was able to approve and fund the transaction in a timely manner.
About SLR Business Credit
SLR Business Credit is a leading provider of asset-based lending solutions that support the growth and operations of businesses. A subsidiary of SLR Investment Corp [NASDAQ: SLRC], SLR Business Credit delivers flexible financing solutions with credit facilities up to $100 million, focusing on factoring and asset-based loans tailored to client needs.