Huntington Beach, CA Huntington Coast Capital secured a $250,000 asset based loan for a company providing dental mold services for orthodontists!
The company has been operating for many years in the Antelope Valley and serving orthodontists across the country. Recently, they signed on as a provider to a number of Western Dental locations and needed more cash to cover the cost of orders.
The company already had an SBA loan with their existing bank. However, the existing bank was not willing to extend additional credit for the request. Huntington Coast Capital was able to secure a second position asset based loan to get them the additional capital they needed for growth. The $250,000 loan was secured behind the larger SBA loan in first position.
The next step in the process is to refinance both their existing SBA loan and the second position loan in to California’s Community Advantage Program. This new loan will consolidate the loans making one payment for all of the debt.
The loan re-structuring will allow the company to take on the new contracts comfortably without the financial concern of being able to afford the up front costs involved.
If your company could benefit from an asset based loan, we would like to speak with you! You can contact us at 714-719-8966.
To you success!
Huntington Coast Capital, Inc.