$2 Million Senior Secured Credit Facility
A growing Silicon Valley-based mechanical engineering company focused on the construction of complex facilities; semiconductors, clean rooms, exotic process piping and customized process and control systems required by manufacturers and biotechnology companies which require highly controlled manufacturing and laboratory environments.
The Company was experiencing losses, had tripped debt covenants and were therefore asked to exit by their current bank. Due to the large amount of debt and history of losses, the company was unable to find an alternative funding source.
Business Capital successfully exited the company from the Special Assets Division of a local regional bank and refinanced an accounts receivable based revolving line of credit. Working with its lending partners, Business Capital successfully structured an optimal financing solution that will enable the company to achieve its future growth plans.