$2.85 Million Credit Facility
The Company is a California based printing and on-line publishing company and premier regional producer and printer of magazines, catalogs, event guides, sports programs, directories and other publications for the travel, food & beverage, entertainment, healthcare, technology, professional association, and sports industries.
Due to the economic downturn and the changes in the printing industry, traditional revenue sources were impacted and the company was forced to make a costly shift to include digital media. Because of a decrease in revenue and increase in costs, their current lender was not willing to provide the additional working capital needed.
Business Capital successfully underwrote this credit by articulating the company’s history and future plans for adaptation and growth to credit committee partners to secure intelligently structured and affordable financing for the client. The new credit facility paid off the company’s previous lender and allowed the firm to complete their transformation into a competitive, integrated print media organization and support a planned increase in sales.