Solar Equipment Manufacturer

$1 Million Credit Facility

The Client

The Company develops, manufactures and distributes hand-held personal solar devices to major retail outlets. The devices are small, reliable power chargers designed to charge an internal battery which, in-turn, charges other battery-powered devices such as smartphones, iPods, GPS cameras, handheld games and similar portable products that rely on a rechargeable battery to operate. The devices also directly power USB appliances. The Company also manufactures hybrid devices, which capture both energy from the sun or from main power and store it for emergency use.

The Situation

Due to an internal reorganization resulting in new management and an upgrade of the entire product line, there was a gap in product supply, sales decreased and the company experienced some setbacks. Outstanding debt and lack of working capital left the Company unable to take advantage of the opportunity to increase manufacturing, sales and distribution of the new product lines and the private equity sponsor of the company was unable to attract any leverage in the form of Sr. debt for the company

The Solution

Business Capital was brought in by the private equity sponsor and worked with lending partners to deliver multiple competitive term sheets and thereby structure an affordable revolving line of credit to substantially increase the client’s liquidity and ability to manufacture, ship and sell new product.

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