Rosenthal Closes Two Asset Based Lending Transactions in Late 2023, Totaling $8 Million
(NEW YORK) JANUARY 11, 2024 – Rosenthal & Rosenthal, Inc., the leading factoring, asset based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States, today announced the completion of two recent asset based lending transactions totaling $8 million.
A New York-based corporate uniform manufacturer for fast casual restaurants, grocers and convenience stores was in need of additional working capital to support its rapid growth. The company was expanding its business with new and existing clients that were requesting longer sales terms and larger inventory replenishment levels at their warehouse. As a family-owned business, the company was looking for more flexibility from a non-bank lender that could offer less restrictive covenants and grow with the business over time. An accountant referred the company to Rosenthal. Rosenthal was able to provide a $3 million asset based lending facility against receivables and inventory to support the working capital needs of the business as they expanded.
“Our asset based lending facilities are an excellent solution for rapidly growing companies looking to take advantage of sizeable and fast-moving sales opportunities,” said Andrew Barone, Senior Vice President at Rosenthal.
A Florida-based paper converter and manufacturer of bathroom tissue and paper towels was faced with a conservative borrowing base and tight availability with their existing commercial bank lender. Seeking an alternative financing solution, the company engaged a debt placement consultant who referred them to Rosenthal. Rosenthal was able to provide a $5 million asset based lending facility against receivables and inventory to support the client’s working capital needs.
“Rosenthal’s alternative financing facilities are attractive to many companies that are looking for a lender who better understands their business, offers more flexibility and has the ability to unlock additional liquidity to grow their business,” said Robert Schnitzer, Senior Vice President of Business Development at Rosenthal.
For more information about Rosenthal and these transactions, please visit www.rosenthalinc.com and contact Andrew Barone at ABarone@rosenthalinc.com or 212-356-1721 and Robert Schnitzer at RSchnitzer@rosenthalinc.com or 561-516-0772.
ABOUT ROSENTHAL & ROSENTHAL
Rosenthal & Rosenthal (www.rosenthalinc.com) is the leading factoring, asset based lending, purchase order financing, d2c and e-commerce inventory financing firm in the United States. Founded in 1938 by Imre J. Rosenthal, the firm is now led by the third generation of the Rosenthal family. As a privately held company, Rosenthal is committed to providing personalized service and flexible lending to clients across a broad range of industries. Rosenthal has offices in New York, California, Georgia and North Carolina.