2018 Fundings
$2 million factoring facility for a drywall contractor
3.8 million debt restructuring for a distributor of compost and mulch
3.0 million business acquistion loan for a plumbing company
1.9 million SBA 7a expansion loan for a restaurant
$1 million ABL facilty for an apparel company
$500,000 asset based line of credit for a baked goods wholesaler
$1.1 million SBA loan the purchase of a grocery store
$300,000 SBA purchase of a chiropractor office
3 Lines of Credit for clients who had obtained term loans previously from Bedford
$100,000 term loan for a retailer of mattresses
1.2 millon real estate purchase with only $19,000 down for a contractor looking to expand
$900,000 real estate purchase with a company that could not get bank financing due to BKs
$750,000 line for a marble/granite distributor
2 $50,000 lines of credit (unsecured)
$100,000 factoring facility for a paving contractor
$250,000 (3 in total) short term working capital loan WITH NO UCC FILINGS
$45,000 equipment lease for a contractor
$65,000 working capital term loan WITH NO UCC FILINGS and a 2nd position behind SR lender
$1 million asset based line of credit for a manufacturer of displays and trade show booths
$310,000 SBA loan for a popular sandwich franchise (new facility)
2017 Fundings
- Two SBA loans closed in January 2016 ...both were for businesses purchasing the building they had been renting.
- We had a number of WORKING CAPITAL TERM LOANS close and or renewed this year.
- A small MEDICAL RECEIVABLES factoring faciltiy closed in January.
- A $500,000 factoring facility for both DOMESTIC AND FOREIGN RECEIVABLES approved in January...no personal guarantees required on this deal.
- A company with FOREIGN OWNERSHIP was able to get an asset based line of credit to replace their current bank facility (bank wanted to be paid off)
- A $75,000 LEASE for a medical transport services company closed along with a small trucking lease
- Two ACQUISITION LOANS via SBA closed in the Fourth Quarter of 2016. One for $1.2 million and another for $2.4 million. Both are under collateralized but have strong enough cash flow to support FINANCING THE GOODWILL portion of the acquisition. One of the acquisitions will also be getting a $1.5 million line of credit via one of Bedford's asset based lending sources after the SBA loan closes.
- A bakery was approved for $50,000 in EQUIPMENT PURCHASES that will allow them to move from their home base to a new facility.
- Company that provides luggage services for airlines was approved for FACTORING in August.
- A RESTAURANT looking to expand into a new hotel in a vibrant downtown community obtained a $900,000 commitment.
- A convenience store with 12 months of positive cash flow needed to pay off a bank loan that was in the workout department. We were able to do the $1.3 million refinance of this property in the summer of 2016.
2016 Overview
- SBA Closings and/or Commitments: Business acquisition of a greeting card company, Express loans for fire safety protection firm and a restaurant, 1.3 million loan for start up car wash, real estate purchase for both a health care provider and a chemical distributor.
- Factoring and or Asset Based Lending Closings or Commitments: Staffing company, medical research firm, textile distributor, exporter, engineering firm, start up manufacturer, metal fabrication company, medical distributor used existing asset based line to purchase another business, solar lighting manufacturer.
- Equipment Leasing (closings or commitments): start up brewery, SEVERAL restaurants, powdercoating company, SEVERAL trucking companies, movie theater, printers.
- Short Term Working Capital Closings: printer, fabric shop, mattress retailer, law firm, several trucking companies, promotional products reseller, pet kennel
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