12JanJune 7, 2016 By Patrick

HCC Secures $570,000 Loan For An Electronics Distributor

In a first of two capital placements, Huntington Coast Capital secured a $570,000 SBA 7A loan for a electronics distributor in Chicago, IL.

The company was in dire need of additional capital to meet it’s growing demand. They needed capital to purchase the inventory they then sold on their online platform. Because the company sold at point of sale through the website, they were not a fit for traditional accounts receivable financing.

The company specializes in refurbished tablet computers – mainly iPad and Samsung units. In this business, it is necessary to have the inventory on hand to be able to fulfill customer orders in a timely manner. The newly acquired line of credit will allow them to do just that.

As a second step, HCC is now working with them on a supply chain funding facility for an additional $500,000 to work in conjunction with the existing financing. With a total purchasing power of $1,000,000, the company would be able to grow exponentially.

If your business could benefit from additional capital, we would like to speak with you.

To your success!

Patrick Zazueta | Founder
Huntington Coast Capital, Inc.
714-719-8966

22JulJune 7, 2016 By Patrick

HCC Obtains $1,500,000 Credit Line For Wireless Company

Huntington Coast Capital negotiated and procured a $1,500,000 credit line for a wireless service provider in Irvine, CA. The company was outgrowing their bank’s ability to fund their projects. The nature of their product required contracts for service over an extended period of time, and often were in the multi-million dollar range. The contracts required capital prior to delivery to cover cost of goods and other fixed expenses. This made a traditional accounts receivable line of credit challenging because most lenders lend on accounts receivable after services have been delivered.

They spoke to a number of community banks and finance companies and none seemed to deliver the amount of capital (at the right price) for their needs. Enter Huntington Coast Capital. After our initial consultation, we introduced a couple of avenues and potential lending sources for them to choose from. We introduced a factoring company and a couple of creative asset based lenders for them to consider. After the proposals were received, HCC highlighted the differences in the funding options and ran the cost through our pricing model matrix to offer a side by side comparison.

The company made their choice and are now able to meet the demand of their pending contracts and grow the company significantly.

Huntington Coast Capital – Fueling the Economy, One Business At A Time!

21JulJune 7, 2016 By Patrick

HCC Secures $840,000 SBA Loan For A Sauna Manufacturer

Huntington Coast Capital is proud to announce the closing of a $840,000 SBA loan for a sauna manufacturer in San Francisco! The company was looking to re-structure some debt and utilize some outside capital for expansion.

The company was referred to us by one of our lending partners who could not offer them a term loan. Because they sold their product directly to consumers and not through retail distribution, they did not have accounts receivable. Non-SBA lenders need to have accounts receivable and/or inventory to provide working capital lines of credit. The SBA lenders look at things a bit differently; they look at the cash flow and debt service ability of the company. The company had strong cash flow and was trending in a growth direction.

A main reason for the growth of the company is due to their motto in placing customer health first.

An explanation from their company website:

For years, the healthcare industry recommended infrared heat lamps as a source of far infrared heat but the lamps were cumbersome, extremely hot and difficult to maintain at a constant temperature. Today, many healthcare professionals use far infrared infrared heaters to treat a variety of diseases throughout the world.

The efficacy of far infrared waves is very broad and the subject of recent study by NASA. Among the infrared waves, the far infrared rays, which have a wavelength of 8-14 microns, are especially good for the human body. These waves have the potential to penetrate 1.5 to 2 inches or more into the body allowing for deep heat and raising your core body temperature from deep inside. The deep heat and far infrared is why scholars believe that the Ondol (traditional warm floor of Korea) is good for health because the materials for the Ondol are stone and earth both of which radiate far infrared waves when heated.

The far infrared rays consist of similar wavelengths as that which is emitted naturally by the human body. This is one potential explanation of why many feel energetically rejuvenated and balanced from contact with far infrared waves. It is also believed that far infrared waves help improve blood circulation and recovery from fatigue.

I feel rejuvenated just reading this!

If your company could use additional capital to expand operations, give us a call!

To your success,
Patrick Zazueta | Founder
Huntington Coast Capital, Inc.

15JulJune 7, 2016 By Patrick

HCC Secures $2,300,000 for a Glass Fabricator in California

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.
714-719-8966