Lawrence Financial Group Closes $50MM in Financing in Q2/21
Lawrence Financial Group closed $50 million in financing during Q2/21, including:
$12.5 million in subordinated debt to an e-commerce seller of toner and printer ink products that wanted to keep its bank line but needed additional capital for its expansion. The borrower also was reluctant to share equity. Lawrence Financial Group secured a mezzanine term loan with minimal dilution at favorable terms.
An $8.5 million revolving line of credit for a maker of frozen food products that needed to increase its capital availability. The company received a large contract with Walmart and required funding to facilitate the project.
A $6.5 million working capital facility for a Los Angeles-based textile manufacturer that was experiencing significant demand for its woven line. A bank was sourced by Lawrence Financial Group and enabled a closing within five weeks from the initial letter of intent.
An $8 million factoring line to a service firm that was seeking capital for its corporate relocation operation. Due to the COVID-19 pandemic, its business of helping major corporations find living quarters for transferred employees had languished. Recently, orders picked back up, stressing the company’s cash flow. FSW Funding, the joint venture partner of Lawrence Financial Group, provided this facility within two weeks.
$7.5 million in financing for the original founder of the Thin Bar and a backer of an energy bar co-packing operation. The operation’s existing line of credit was insufficient to allow the company to keep up with orders from other customers. Lawrence Financial Group identified a lender experienced in food manufacturing and willing to extend the additional credit required.
A $6 million credit facility for a Los Angeles-based meat distributor, which struggled during 2020 since its customer base is primarily made up of hotels and restaurants. The company’s bank terminated their line, but with many restaurants and hotels now re-opened, the company is moving towards its former sales and profitability.
A $4.75 million line increase for a digital marketing concern. Earlier in 2021, Lawrence Financial Group provided a $5 million revolving line of credit to the company, which subsequently acquired one of its competitors. Lawrence Financial Group arranged additional financing to enable the acquisition.