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Awning and Sign Manufacturer



In business over 20 years, this manufacturer and designer of decorative awnings, canopies and signs for major fast food chains had sustained losses due to cancelled orders attributable to the recent economic downturn. As a result, the prospect had been moved to the workout area of their bank and access to working capital was constrained. New orders began coming in, but, with no additional funding available from the bank, the growth on the horizon was all but unreachable.



Magnolia Financial met with management and was impressed with the company's turnaround plan. With insight into the company's strengths and weaknesses, Magnolia was able to structure a $1,500,000 working capital facility tailored to the business. In addition to advancing against accounts receivable, Magnolia also included the company's inventory in the borrowing base, freeing suppressed availability and allowing management to move forward with confidence. The company is projecting a return to profitability before the end of the year, an improvement that would not have been possible without the working capital provided by Magnolia Financial.