Huntington Coast Capital secured a $2,300,000 line of credit for working capital and equipment needs for a rapidly growing glass fabricator in California.
The company, established in 2009, offers full service glass fabrication out of their 80,000 square foot, state of the art facility. Their product offering includes architectural and creative glass fabrication services for office, industrial, retail and residential uses.
They were referred to us by a local bank that required a lock box arrangement which the borrower was not able to oblige. After our initial consultation, we directed them to a select group of three lenders to discuss their financing needs and preferences. In the end, they selected a lender that was able to provide the equipment loan (with lower fees than the SBA product) and working capital needs without the use of a lock box. The borrower now deposits his collected checks from customers into his bank account that the lender sweeps to repay the loan balance.
The entire process from introductions to funding took under 35 days! Now the company can meet demand and grow with their lender. Another example of how Huntington Coast Capital takes the headache out of finding the best lender for your business.
If you business could use additional capital to meet you company goals, give a call.
To your success!
Patrick Zazueta | Founder
Huntington Coast Capital, Inc.