Pinnacle Provides $4MM Line of Credit and $2.5MM Inventory Line to Renewable Energy Company

Pinnacle Capital Finance issued a $4 million line of credit with a $2.5 million inventory sub-feature to a power and cooling systems manufacturer.

The Southern California company entered the market in the 1970s with a solar powered vaccine refrigerator/freezer that has been utilized in various isolated areas of the world. It has since applied its solar related expertise by expanding into the renewable energy sector. The company provides products to the telecommunications, defense, marine, oil and electric vehicle industries.

The Pinnacle Capital Finance loan structure provides a $4 million accounts receivable line of credit combined with an inventory revolving line of credit of $2.5 million. The company plans to use these funds to bolster growth.

“We are delighted to partner with this innovative company and provide them with the working capital financing necessary to fulfill orders associated with their significant backlog, particularly in support of the national 5G network rollout,” Kevin O’Hare, president of Pinnacle Capital Finance, said.

Pinnacle Capital Finance is a division of Pinnacle Bank, a community business bank. Pinnacle Capital Finance offers asset-based lending services, with loans ranging in size from $250,000 to $5 million.