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Industrial Recycling Company

 

SITUATION 

This environmental recycling company was formed in 2013 when the owner acquired a division of a multi-national company. When business began to increase, the new owner approached his bank for a line of credit to support growth. Due to a limited operating history as a stand-alone entity, the banker was unable to approve the loan. Instead of just telling the owner "no", he introduced Magnolia Financial as an alternative financing solution.

 

SOLUTION 

Quickly comprehending the business's potential, Magnolia extended the company a $400,000 Accounts Receivable Line of Credit to facilitate growth. In addition to the working capital line of credit, Magnolia also provided the company with a $100,000 Equipment Term Loan to pay off the note from the previous owner. This extra facility provided by Magnolia freed up the company's remaining assets so the business can grow without unnecessary constraints. Without the flexibility of both the Accounts Receivable Line of Credit and the Equipment Term Loan provided by Magnolia Financial, the company would not have been able to sustain its promising growth.