Construction Material Suppliers
Construction Material Suppliers
2009-10-29
A locally owned supplier to the home building industry was asked to exit their traditional bank facility because of losses incurred in 2007. We looked at management’s track record of success and determined this was a very good company with a good balance sheet that was hit by a “market train.”
During May 2008, we want to highlight a deal we funded to point out how customizable we can be. A locally owned supplier to the home building industry was asked to exit their traditional bank facility because of losses incurred in 2007. We looked at management’s track record of success and determined this was a very good company with a good balance sheet that was hit by a “market train”. After underwriting the business plan going forward, we determined the housing market in DFW is not going away, duh…!!
The company began searching for an alternative form of capital in April and interviewed several Factors and Asset Based Lenders, including Far West Capital. They were concerned about a couple of key factors and narrowed down their search based on the lender’s ability to customize the relationship.
Far West Capital Provided:
- $1,400,000 Accounts Receivable Financing Facility
- Flexibility: We put an A/R Revolver in place versus an Invoice by Invoice factoring solution.
- No Long Term Contract: We did not tie them down for a long period.
- Access to Decision Makers: The person they were meeting with face to face has the experience and knowledge to make things happen and happen quickly. Thank you Brian Center.
- Non-Notification: The Company did not want their customers to be aware of Far West’s involvement in purchasing the A/R – we looked at the balance sheet and the management team’s experience and got comfortable with their ability to perform.
The Far West Capital Difference
We like to point out our ability to truly customize relationships and our focus on client success; we ultimately win by helping our clients win.
If we can help you on a deal of your own, please contact us!
Contact:
Cole Harmonson
Far West Capital
(512) 528-1494 Direct
(512) 657-4253 Cell
cole@farwestcap.com
www.FarWestCap.com
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