The Customer
Medical Device Manufacturer
The Challenge
- Company needed 18 months of progress payments. Most lenders were comfortable with 12 or less months.
- Company was looking to fund within a tight 45-day window.
- Company could not pay for the equipment and get reimbursed because that would breach a covenant within their credit agreement.
- Highly specialized equipment
Done Deal.
- FNC funded $24,000,000 in financing for one specialized manufacturing line for a repeat customer.
- FNC acted swiftly to meet the vendor deadline.
- FNC dual-processed the process simultaneously to get the deal executed.
- FNC was able to provide progress payments to the vendor and structure the transaction in a way that helped the company stay within its credit agreements.
Business Cycle Volatility
Wider credit appetite for companies in all phases of the business cycle.
