March. 7, 2013
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The Secured Lender's February  Digital Edition

Welcome to TSL's Deal Alert! The following industry-related deals were compiled from TSL Express. Deals are listed in alphabetical order by company.

If you'd like your deals included here, or have any questions, please contact tslexpress@cfa.com.

Our next Deal Alert will be sent during the first week of April.

Need to find an older deal? Click here for the TSL Deal Alert archive for deals from December 2010 on.

Deal Size
Borrower
Notes
Accord Financial Inc.
$1 Million
Company that is an importer of apparel, primarily denim, selling to a major retailer in Canadian Vancouver, British Columbia
Accounts
receivable facility
$2 Million

Company that is an importer of pet accessories, selling to major retailers in Canada and the United States,
Montreal, Quebec

Accounts receivable facility, inventory loan facility and LC facility
Advanced AR Funding
$1.5 Million
Closed door pharmacy
Revolving line
of credit
$500,000
Structural steel fabricator
Revolving line
of credit
Aileron Capital Management
Approx. $7 Million
Borrowers utilizing the SBA 504 loan program, with Aileron providing the 2nd mortgage/deed of trust loans for the period between the initial loan closing, and SBA debenture funding.
Six interim bridge loans during January 2013, Loans were provided to borrowers utilizing the SBA 504 loan program
AloStar Business Credit
$15 Million
Advanced Environmental Recycling Technologies (AERT), Springdale, AR
Senior secured revolving credit facility
$17.35 Million
Principal Manufacturing Corporation (PMC),
Broadview, IL
Consisting of an $11 million revolving credit facility and
a $6.35 million
term loan
Amerisource
$2.5 Million
Staffing company, Florida
Asset-based
line of credit
$1 Million
Medical furniture manufacturer, North Carolina
Working capital line
$100,000
Automotive detailing company, Pennsylvania
A/R factoring facility
$250,000
Call center operation,
North Carolina
A/R factoring facility
Bibby Financial Services
$7.5 Million
Textile manufacturing company that designs and produces premium quality t-shirts, fleece outerwear and sportswear for wholesalers and retail brands, Miami, FL
Factoring facility
$7.5 Million
Apparel company, Florida
Factoring facility
$1.5 Million
Packaging company, Illinois
Factoring facility
$1 Million
Technology company, Arizona
Factoring facility
$1 Million
Manufacturer and distributor, Quebec
Factoring facility
$750,000
Apparel manufacturing company, New York
Factoring facility
$650,000
Apparel company, New York
Non-recourse factoring facility
$500,000
Distribution company, California
Factoring facility
$300,000
Transportation company, Ohio
Factoring facility
Business Capital
$1.5 Million
Manufacturer and distributor
of industrial aluminum
and plastic products throughout Asia and the U.S.
Asset-based
line of credit
$500,000

Transportation services company that is part of a larger industrial metal fabrication and
powder coating company

Asset-based
line of credit
$500,000
Aggregate supplier and construction trucking company
Asset-based
line of credit
Capital Business Credit (CBC)
$6 Million
Retailer and distributor of residential lighting fixtures
Revolving, asset-based facility with advances on account receivables and inventory
Capital One
$8 Million
Yates Corner LLC,
Alexandria, VA
Construction credit facility and term financing
Celtic Capital Corporation
$1.25 Million
Manufacturer, Hebron, KY
A/R and inventory lines of credit
$2 Million
Manufacturer, Portland, OR
A/R and inventory lines of credit
CIT Group Inc.
$105 Million
Hospice Compassus, the nation's largest private independent provider of hospice services across 14 states, Nashville, TN
Senior secured credit facility; CIT Healthcare served as sole lead arranger, sole bookrunner and administrative agent
N/A
Garrison Investment Group, New York City
Senior secured loan; CIT Real Estate Finance served as lead arranger and
financing was provided by
CIT Bank
N/A
Medsurant Holdings, Dallas, TX
Senior secured credit facility; CIT Healthcare served as sole lead arranger, sole bookrunner and administrative agent and financing was provided by
CIT Bank.
Cole Taylor Business Capital (CTBC)
$19.6 Million
Veridiam, Inc., a contract manufacturer of assemblies and precision components
Credit facility
$5.9 Million
Western Shelter Systems, Eugene, OR
Credit facility
$8 Million
Team Express Distributing, LLC, San Antonio, TX
Credit facility
Commonwealth Capital, LLC
$50,000
Medical staffing company, based in a Minneapolis suburb
Factoring facility
Crestmark
$750,000
General labor staffing services company, Michigan
Ledgered line of credit facility
$750,000
Automotive hauler that has over 70 trucks in operation, California
Purchase facility
$600,000
Company that serves as a manufacturer’s rep for the commercial heating and cooling industry, Illinois
Ledgered line of credit facility
$500,000
Company that sells a variety of media storage, California
Ledgered line of credit facility with advances on accounts receivable
$2.5 Million
Rehabilitation company, Missouri
Asset-based line of credit facility
$2 Million
Company that distributes and installs food service equipment for governmental agencies, California
Ledgered line of credit facility
$2 Million
IT staffing company, Minnesota
Accounts receivables purchase facility
$2 Million
National electrical contractor, Florida
Ledgered line of credit facility
$4.5 Million
Company that produces concrete component manufacturing equipment for both domestic and international concrete companies, Michigan
Asset-based line of credit facility with advances on accounts receivable and inventory
$750,000
Mattress manufacturer and distributor, Georgia
Ledgered line of credit facility with advances on accounts receivable
$6 Million
Company that specializes in the development of redemption prizes for recreational facilities, California
Asset-based line of credit facility with advances on accounts receivable and inventory
$2 Million
Start-up that brokers and trades ferrous and non-ferrous metals, Michigan
Ledgered line of credit facility with advances on accounts receivable
Crystal Financial LLC
$80 Million
Quantum Foods, LLC, in Bolingbrook, IL
Five-year, senior secured credit facility
Federal National Commercial Credit
$5 Million
Provider of military services and consulting
Government contract financing line
$600,000
IT solutions provider
Accounts receivable factoring line
$500,000
Hauling services provider
Working capital financing line
First Capital
$6.8 Million
Valley Oil Company, a fuel and oil products distributor
Senior credit facility consisting of a $6.5 million working capital revolver secured by accounts receivable and inventory, and a 0.3 million term loan.
$16.6 Million
Lee Masonry Products, Inc.
Senior credit facility consisting of a $12 million working capital revolver collateralized by accounts receivable and inventory, and $4.6 million in term loans collateralized by machinery, equipment and
real estate
$13.5 Million
Distributor of
automotive accessories
Asset-based
senior credit facility
First Financial Bank
$14 Million
Food Processor, Chicago, IL
Revolving line of credit, term loan, and capex line
Forest Capital
$1 Million
Landscaping and snow removal company, Pennsylvania
Accounts receivable line of credit
Gateway Trade Funding
$2 Million
Distributor of aftermarket auto parts selling to major OEMS
Purchase
order facility
$2 Million
Vertically integrated engineering firm selling LED light housing to large OEMs
Purchase
order facility
$4 Million
Sporting goods firm selling to major retailers, California
Purchase
order facility
$2 Million
Toy importer selling to major retailers, California
Purchase
order facility
Gibraltar Business Capital (GBC)
$2.5 Million
Company that provides education data management solutions to K-12 schools primarily in the US
Asset-based
line of credit
$500,000
Value-added reseller of technology products and also a provider of technology solutions to companies in a wide-range of industries in the tri-state area, New Jersey
Factoring line
of credit
$1 Million
Manufacturer of equipment for the restaurant industry, Georgia
Asset-based
line of credit
King Trade Capital (KTC)
$1.8 Million
Eyewear frame and
accessory designer
Purchase order facility; KTC's solution allows the company to fulfill a $3 million national rollout for a
big box retailer
$1.9 Million
Connecticut- and California-based distributor of home goods and accessories
Supply chain
finance solution
LBC Credit Partners (LBC)
$50 Million
Prospira Pain Care,
Mountain View, CA
LBC was the joint lead arranger and syndication agent for a senior secured credit facility
N/A
The Portfolio Group, a leading provider of outsourced
financial services to
automobile dealerships
Credit facility and
an equity co-investment; LBC was the sole lead arranger, sole bookrunner and administrative agent
Lighthouse Financial
$1.25 Million
Wholesale lumber distributor, North Carolina
Revolving line
of credit
$2 Million
Printed apparel distributor, North Carolina
Revolving line
of credit
$1.5 Million
Defense contractor,
North Carolina
Revolving line
of credit
$1.58 Million
Metal products distributor, Delaware
Revolving line of credit and term loan
Liquid Capital Corp.
$150,000
IT management company
Factoring
credit facility
$250,000
Company which provides energy efficient lighting
Factoring
credit facility
$750,000
Trucking company
Factoring
credit facility
$200,000
Company that offers consulting services for pension
funds and 401K plans
Factoring
credit facility
$500,000
IT consulting company
Factoring
credit facility
$50,000
Maintenance company
Factoring
credit facility
$250,000
Retailer/wholesaler of natural stone and building products
Factoring
credit facility
$200,000
IT service company which offers software development
Factoring
credit facility
$25,000
Auto office supplies distributor
Factoring
credit facility
$100,000
Company which is a developer of consumer electronic accessories
Factoring
credit facility
$250,000
Company that is a wholesaler and distributor of stone
Factoring
credit facility
$750,000
Company which manufactures and distributes steel products
Factoring
credit facility
$100,000
Company which designs and distributes trendy clothing
for young women
Factoring
credit facility
$200,000
Company which produces live musical events for institutions, municipalities and corporations
Factoring
credit facility
$400,000


Company that manufacturers high end retail display units
for customers such as
Polo, LG, Bell, Christian Dior
and Mont Blanc

Factoring
credit facility
Marquette Business Credit
$7.5 Million
OttLite Technologies, Inc., Tampa, FL
Consisting of a $7 million revolving line of credit and a $500,000 cash flow term loan
$9 Million
Loadcraft Industries, Ltd.
Consisting of a $6 million revolving line of credit and a $3 million equipment term loan
NewStar Business Credit
$5 Million
Vinum Wine Importing and Distributing, Seattle, WA
Revolving
credit facility
Porter Billing Services and Porter Capital Corporation
$25,000
Transportation company, Guntown, MS
Non-recourse factoring facility
$30,000
Transportation company, Houston, TX
Non-recourse factoring facility
50,000
Transportation company,
Miami, FL
Non-recourse factoring facility
$75,000
Transportation company, Douglas, GA
Non-recourse factoring facility
$75,000
Transportation company,
West Hempstead, NY
Factoring facility
$100,000
Transportation company, Jackson, MS
Non-recourse factoring facility
$100,000
Distributor of building hardware and tools, Hewlett, NY
Factoring facility
$250,000
Transportation company,
Brent, AL
Factoring facility
Ridgestone Bank
$1,536,000
Veterinary Clinic,
Crystal Lake, IL
SBA 7(a) loan used to refinance real estate debt, business acquisition debt and a
seller's note
$2,633,000
Sheet metal fabrication company, Menomonee Falls, WI
Four SBA 7(a) loans, which included a real estate refinance, refinance of working capital debt, a new equipment purchase loan and a CAPLine line of credit
$1.05 Million
Lawn maintenance, landscaping and snow removal company, Bristol, WI
Consisting of an $805,000 SBA 7(a) loan and a $200,000 SBA CAPLine; Loan was used to refinance debt and CAPLine provides working capital
$950,000
Franchise restaurant,
West Chicago
SBA 7(a) loan, allowing the borrower to purchase real estate and achieve better cash flow
$1,157,000
Convenience Store,
Romeoville, IL
SBA 7(a) loan; Refinance will save borrower nearly $50,000 annually
$900,000
Convenience Store
Crystal Lake, IL
SBA 7(a) loan
$200,000
Print screen and embroidery service provider, Addison, IL
SBA CAPLine
$450,000
Owner of two
franchise locations
SBA 7(a) loan; Borrower can complete required improvements to both businesses
RMP Trade Credit (RMPTC)
$1 Million
Importer of licensed and patented promotional products
Purchase order facility; RMPTC is buying the merchandise on letters of credit and a factor in New York is financing the A/R on the transaction
$125,000
Startup designer making
high end clothing
Purchase order facility; accounts receivable will be financed by a factor in Illinois
$1.5 Million
Importer of metals
Purchase order facility; RMPTC is securing the materials through letters of credit for a refinery customer in Florida. The A/R is being financed by a factor in New York.
$900,000
Importer of machine parts
Purchase order facility; RMPTC has taken over from an ABL lender and will issue letters of credit to the factories overseas. The California-based factor will be financing the A/R.
Salus Capital Partners LLC
$250 Million
N/A
Collateralized loan obligation (CLO) vehicle
$10 Million
Leading company that acquires vintage or classic automobiles for the purpose of resale
Senior secured, collateral-based working capital facility
C$21 Million
Fletcher Leisure Group Inc., one of Canada’s largest sporting goods wholesale and distribution companies
Senior secured
credit facility
$10 Million
Work N' Gear, Inc.
Senior secured credit facility
Silo Financial Corp.
$13.2 Million
Eight-story, 30,000-square-foot building to be converted to a six-unit ultra luxury loft condominium, New York, NY
Bridge loan financing
Star Funding
$7.5 Million
Startup that is a manufacturer and distributor of cosmetics with a high profile celebrity license, California
Work-in-process purchase order finance and receivables
factoring facility
$5 Million
Importer/manufacturer and distributor of consumer goods
Purchase order finance and accounts receivable factoring facility
$1 Million
Growing manufacturer of women's apparel
Facility will be used to provide accounts receivable financing; work-in-process purchase order financing
TAB Bank
N/A
Fast A/R Funding,
Calabasas, CA
Rediscount
credit facility
$750,000

Simple Products Corp.,
Sandy, UT

Senior revolving credit facility
TCE Capital
$3 Million
Grain processing facility, Western Canada
$2 million invoice discounting facility and a $1 million demand revolving loan, secured by inventory and a second collateral mortgage
US Capital Partners, LLC
$915,000
MZF-Bayer, Inc.,
Burlingame, CA
Term loan
 

 

 

Commercial Finance Association
370 7th Avenue, Suite 1801
New York, NY 10001
(212) 792-9390
www.cfa.com