Pinnacle Capital Finance Provides a $4.5 Million Line of Credit to a Leading Furniture Manufacturer

Pinnacle Capital Finance is proud to announce the issuance of a $4.5MM line of credit to a leading San Francisco Bay Area design, manufacturer and distributor of indoor and outdoor modern furniture.  The company supplies state of the art furniture and lighting to retail, restaurant, hospitality, rental and design companies located in the United States, Canada and some South American countries.

The company had successfully grown their business enjoying double digit growth and profits in most years. However, due to the new tariffs imposed by the U.S. on imports from their outsourced Chinese vendors along with a strategic product diversification plan put a strain on the company’s balance sheet. Their existing lender was unwilling to continue their relationship.

The PCF loan was structured as a $4,500,000 line of credit including an Accounts Receivable and Inventory Revolving Line of Credit as well as a Term Loan. Kevin O’Hare, President of the Pinnacle Capital Finance group said: “We were impressed by the management team being so forthcoming of their strategic mistakes as well as by their comprehensive turnaround plan, which was instituted in short order.” Jeff Johnson, EVP, intimated his belief that the company would evolve into a conventional Pinnacle Bank borrower as their progress unfolds.

Pinnacle Capital Finance is a division of Pinnacle Bank, a full-service community business bank dedicated to providing quality depository and credit services. Pinnacle Capital Finance offers an array of Asset Based Lending services to growth companies. Our loans range in size from $250,000.00 to $5 Million. We offer a full range of financial products including accounts receivable and inventory financing, factoring, purchase order as well as term loans.  For more information, visit www.pinnacle.bank.