Lawrence Financial Provides Over $100MM to Clients in 2018
FEB 11, 2019 - 7:00 am
Lawrence Financial provided over $100 million in funding in 2018 and has financed $8 billion in capital for more than 1,200 companies since its founding in 1990.
Highlights from last year included:
$10 million was made available for 3 related nationwide staffing concerns who provide staffing for a multitude of industries as well as permanent placement assistance to their clients. This financing was arranged in conjunction with Lawrence Financial’s joint venture partner, FSW Funding of Arizona. These related revolving lines of credit allowed the companies to continue their rapid growth and expansion.
$6.5 million in financing for a sales promotion distribution company based in Los Angeles. This included a $4 million revolving line of credit plus a $2.5 million term loan. The company sought to refinance its existing bank line and obtain additional working capital for growth and expansion.
$5 million in accounts receivable credit lines were arranged for a fast-growing pharmaceutical product operation which manufactures and distributes over-the-counter, branded and contract manufacture drugs for numerous clients worldwide. With operations is Puerto Rico, Kentucky and New Jersey, the business had obtained a substantial contract to provide generic drugs to the Veterans Administration.
$4.5 million was structured to a manufacturer/distributor of energy and nutrition bars which are sold by retailers, including Targets and Starbucks. The facility included a $2.5 million working line of credit and $2 million purchase order line of credit. Lawrence has in total arranged over $10 million for this client in the last 2 years, including $5 million equity, accounts receivable financing and loans on inventory as well as equipment.
$4 million for a manufacturer of modular structures based in Louisiana. These structures are blast proof portable buildings used by telecommunications entities. The $4 million was structured as a growth facility to allow fulfillment of major orders in house.
$3.5 million to a distributor/installer of highspeed cable equipment. This loan was structured as a revolving working capital line of credit. Funding will be used for expansion and growth
$2 million provided as a term loan secured by equipment for a San Francisco based artisan bakery operation. The company needed money to fund its expansion to new customers in the Bay Area
$1 million obtained for a developer of credit card incentive programs. The borrower has received a large contract from Blue Cross and needed a short-term bridge loan. In addition to the Blue Cross agreement, they also provided real estate as back-up collateral.
$2 million purchase order funding for a manufacturer and importer of toys. The client had a large order from Walmart and needed to pay the Chinese factory.
$1 million was arranged for a furniture start-up. The entity had received major interest from the market but needed seed funding for equipment.
Based in Los Angeles, Lawrence Financial specializes in providing asset-based financing, including loans secured by accounts receivable and inventory, as well as term loans on equipment and Intellectual property.
While winter in the Northeastern United States was milder this year than in 2018, it still brought with it the requisite cold, gray skies, and snow. Spring’s arrival may have been just as mild, but at least served as an... read more
Monitor’s Top 25 Vendor Players broke the $40 billion mark in new originations this year, but while most saw positive growth, the overall percentage increase slipped slightly from 6.4% in 2017 to 6.1% in 2018. The top eight companies from... read more