December 17, 2020
BDC Capital provided a $2.5 million revolving asset-based line of credit to a family-owned recycler based in New England. The metals recycler and processor operates out of multiple locations, and recently expanded their facilities to meet the demands of their expanding customer base.
The BDC Capital revolving line of credit is secured by accounts receivable and inventory and provides purchase order financing. The BDC credit facility closed concurrent with a restructuring of their term debt facilities by a local community bank. The combination of BDC Capital and a local bank provided increased working capital capacity and improved cash flow.
ABOUT BDC CAPITAL:
The oldest business development corporation in the United States, BDC Capital has been recognized locally and nationally as a leader and innovator in business lending and capital investment. More than 30 of New England’s leading financial institutions invest in BDC to help promising companies expand. Since our creation in 1953, we have invested more than $1 billion in thousands of companies in New England.
Whether the need is $500,000 or $5 million, BDC Capital provides a wide range of financing solutions. We offer asset-based lines of credit, senior debt, junior secured debt, mezzanine investments and private equity options, all of which are customized to suit the needs of a business.
Our affiliate, CDC New England, provides SBA 504 loans for owner-occupied real estate and equipment.
For more information, visit our web site, call us at 781-928-1100, or contact:
Carol C. Brennan