Electrical Installations Specialist “Worthy” of $3MM Receivables, Inventory and Equipment ABL

Worthy Lending LLC (WL) closed a multi-collateral ABL revolving finance facility for a northeastern electrical installation specialty company.  Performing low voltage cabling services to municipal and US governmental prime contractors, the company doubled its existing finance capability using not only high-quality accounts receivable, but other company assets as well.  WL Managing Underwriter Fred Leder commented, “we saw a company with multiple ‘set aside’ designations to include; minority owned, former military service owned, and small business, all of which are highly sought after by the large prime contractors. When we were first introduced to them, they were restricted by an existing limited finance structure. We met with the highly experienced management and saw that more financial capacity was needed to help them prepare for and perform their cabling at well-known international airports, bridges and tunnels. We are excited to be the fuel for their next stage of growth.” The company’s owner was impressed with the way WL quickly brought the loan to closing and in the interim provided a small bridge to help with their increased payroll.

WL looks for situations in which a potential borrower is in growth or recovery mode and has  lazy assets that can generate working capital through an ABL finance structure.

Worthy Lending, LLC is a lender providing ABL structures incorporating multiple sources of collateral specializing in stand-alone inventory transactions. With a flexible approach to financing the needs of sector-diverse businesses, WL offers ABL facilities ranging in size form $300K up to $3MM, or higher in specific instances. As an additional product line, WL purchases participations with other lenders and does not seek the Lead position.

For additional information regarding Worthy Lending, LLC contact Alan Jacobs it’s CEO at (561) 288-8467 or by email at alan@worthylending.com