Lighthouse Provides $6,500,000 Credit Facility to an OH-Based Manufacturer of Precision Machined Components

January 30, 2024

Source: Lighthouse Financial Corp.

Lighthouse Financial Corp. is pleased to announce the completion of a $6,500,000 Credit Facility to an Ohio-based manufacturer of precision machined components. The company's global expertise and capabilities in micro and high precision manufacturing has allowed it to uniquely serve a variety of high-technology markets including aerospace, diesel/off-road vehicles, fluid power, medical/dental devices, and more.

The company experienced revenue decline during the Covid-19 pandemic as a result of customer shutdowns followed by supply chain challenges. Despite efforts to increase sales and reduce expenses, the company needed to find a new lending partner to support working capital and growth. Lighthouse structured an aggressive line of credit secured by accounts receivable and inventory to support the business as it returns to profitability.

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