Wholesaler of Industrial Grade Tires

tires

$8,000,000 

Working Capital Line of Credit secured by Accounts Receivable and Inventory

Wholesaler of Industrial Grade Tires

In participation with our community bank partners, Southeastern Commercial Finance is pleased to announce the funding of an $8,000,000 Working Capital facility. The Company is a wholesaler of industrial grade tires to original equipment manufacturers and distributors within the United States. The referring community bank was looking for loan growth in addition to diversification in its loan portfolio. Initially, the total exposure was going to be too large for the referring bank to handle internally. In addition, the line needed to be fully monitored on a weekly basis, but the referring bank didn’t have the back room support staff to offer this type of monitoring. After calling and meeting with Southeastern to discuss a participation, the two parties structured a facility that met the needs of the prospect and allowed the referring bank to gain considerable loan growth. In addition, the referring bank was able to structure a real estate component that gained the bank additional loan growth. In the end, our community bank partner gained loan growth from both the line and real estate loans in addition to gaining the depository relationship of the customer.