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Lighthouse Financial Corp. is pleased to announce the completion of a $5,000,000 Credit Facility to a Pennsylvania based distributor of abrasive blasting equipment and supplies. Founded in 1998, the company has grown into a fully integrated surface preparation and distribution company, offering abrasive blasting, painting, and safety equipment along with consumables and supplies to the industrial, commercial, infrastructure, transportation, and energy sectors.
Following a change in ownership in 2021, the company incurred losses but completed several strategic initiatives to return to profitability, including closing unprofitable locations and bringing in new management and sales staff. To support its ongoing operations, future growth projects, and working capital needs, the company sought a new financial partner. Lighthouse structured an aggressive line of credit secured by accounts receivable and inventory that not only paid out the company's existing lender but provided additional liquidity.
For more information about this transaction and others, please visit our website at www.lighthousefinancial.net.
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