Business Capital Structures & Secures $3MM Combination Term Loan & Revolving LOC for Modular Building Company
The company, a central Pennsylvania general contractor and/or subcontractor in the modular building industry, manufactures, installs and finishes modular structures for developers of residential multi-family projects, hotels, apartments, assisted living facilities, student housing and single family homes located throughout the Northeast and Mid-Atlantic states.
A niche Company,they were experiencing rapid growth but were saddled with IRS liens and liabilities, high interest loans, as well as a long payment and production cycle for each unit. Working capital was needed to finance the forecasted growth in sales and to continue to upgrade facilities and equipment.
Business Capital has a successful track record of delivering growth and acquisition capital for companies where traditional bank financing is not an option and was quickly able to structure and secure a Senior Secured Term Loan and Revolving Line of Credit which will provide the company with the additional working capital they need to further their plans for growth.