LSQ Closes $3MM Credit Facility for TN-Based Manufacturer

LSQ originated an additional $3 million facility for an existing textile manufacturing client in Tennessee.

The client, an owner of another subsidiary, needed to replace its existing asset-based lending facility. The incumbent lender asked the business to exit and find a new lender for working capital due to deteriorating financial performance.

LSQ provided a $3 million accounts receivable credit line and used a third-party inventory lender to provide availability against the growing and out of formula inventory facility.

Chris Collins, southeast regional vice president for LSQ, was “pleased and honored that an existing client enjoyed our initial relationship enough to place another credit facility for one of their subsidiaries with LSQ. It is relationships like these that indicate growing respect and acknowledgment of superior service.”