Rosenthal’s West Coast Office Closes $6 Million Asset-Based Loan Facility for California-based Pawn Business

Rosenthal & Rosenthal, Inc., the leading factoring, asset-based lending and purchase order financing firm in the U.S., today announced the completion of a $6 million asset based lending deal for a family-owned pawn business and jewelry, metal and accessories retailer.

Rosenthal’s West Coast team led the deal, marking its second financing deal with a pawn business. Based in California, the company was in search of an alternative lender when their existing bank facilities were no longer sufficient or able to support their growth strategy. Already well known within the pawn industry, Rosenthal was recommended to the client by several of the company’s industry peers.

Even amid COVID-19 challenges, Rosenthal was able to quickly get comfortable with the deal and consolidated the company’s bank loans into a single flexible asset based loan facility. The $6 million facility provided the company with near-term working capital as well as a means to tackle longer-term growth plans.

“With a deep understanding of the pawn industry, we recognize the unique challenges those businesses face, especially in the current COVID environment,” said Ying Yang, Vice President of Business Development in Rosenthal’s West Coast office. “Pawn businesses are drawn to us because we’re able to adapt to their borrowing needs and provide more flexible financing solutions compared with some of the more restrictive bank loan structures that many companies currently have in place.

For more information about Rosenthal and these transactions, please visit www.rosenthalinc.com and contact Ying Yang at 818-914-5913 or yyang@rosenthalinc.com.

ABOUT ROSENTHAL & ROSENTHAL

Rosenthal & Rosenthal (www.rosenthalinc.com) is the leading factoring, asset based lending and purchase order financing firm in the United States. Founded in 1938 by Imre J. Rosenthal, the firm is now led by the second and third generations 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.