Rosenthal Closes $11 Million Asset Based Lending Transaction for Seafood Importer and Distributor
(NEW YORK) APRIL 16, 2024– Rosenthal & Rosenthal, Inc., the leading factoring, asset based lending, purchase order financing and inventory financing firm in the United States, today announced the completion of an asset based lending transaction for a major seafood importer totaling $11 million.
Based in the Southeast, the company imports and distributes high-quality frozen seafood to major food wholesalers and retail partners throughout the Eastern and Southeastern U.S. In 2023, the company found itself in a turnaround situation with a highly concentrated customer. The client’s Chicago-based turnaround consultant brought in Rosenthal as a potential financing partner. Although the client initially went with a bank ABL, Rosenthal reconnected with the client at the industry’s largest trade show, and within three weeks of that meeting, Rosenthal was able to provide the client with a $11 million asset based lending facility backed by accounts receivable and inventory.
“This transaction is a great example of why Rosenthal’s products and offerings can be excellent alternatives to working with a bank,” said Andrew O’Day, Vice President of Business Development at Rosenthal. “Rosenthal’s flexibility, speed to close and our ability to provide non-dilutive working capital solutions without the red tape and restrictions that often go hand-in-hand with bank funding can make all the difference for companies looking to take advantage of sales opportunities.”
For more information about Rosenthal and these transactions, please visit www.rosenthalinc.com and contact Andrew O’Day at AODay@rosenthalinc.com or 312-919-6914.
About Rosenthal & Rosenthal
With over 85+ years of leadership and industry experience, Rosenthal is now led by the third generation of the Rosenthal family. As a privately held company, Rosenthal is committed to providing personalized service, credit protection and flexible lending to small to middle-market clients across a broad range of industries, with loans ranging from $500,000 to $30MM+. With unmatched financial capacity and decades of experience, Rosenthal is best in class for all its clients’ creative financing needs, including factoring (recourse, non-recourse and international), asset-based lending, purchase order financing and inventory financing. Rosenthal’s team of seasoned commercial finance professionals covers the U.S. from coast to coast and nearly everywhere in between, with dedicated offices in New York, California, Georgia, North Carolina, Colorado, and Illinois. Visit the Difference at https://www.rosenthalinc.com.
