Veritas Financial Partners Provides a $13 Million Term Loan to Manufacturer of Nylon Products
BOCA RATON, Fla., July 17, 2013 /PRNewswire-iReach/ -- Canadian and US Based Manufacturer of Nylon Products Founded in 1979, the company is a manufacturer of nylon products. The company's polymer products include compound nylons, film grade nylons, wire and cable polymers and carpet fibers. The company has been experiencing steady growth for over twenty years through acquisitions and contracts with key suppliers.
Veritas Provides $13 Million Funding Solution Veritas was approached to provide a $13 million credit facility in connection with a broader refinancing of the company's current revolving credit line. The total transaction was $43 million, of which Veritas provided a $13 million senior secured term loan collateralized by machinery and equipment and Canadian-based real estate. The facility will be utilized for ongoing working capital needs and repayment of existing debt.
About Veritas Financial Partners LLC
Veritas Financial Partners is a leading national financial services firm that provides senior secured credit facilities to small and medium-sized businesses. Veritas provides financing across a variety of industries and forms of collateral, including accounts receivable, inventory, equipment, and other fixed assets, as well as owner occupied commercial real estate. Commitments range from $1 to $25 million, and often involve facilities that blend various forms of collateral, providing the client with a single financing solution. The Veritas platform also serves as a world class loan servicer and asset manager for institutional investors such as community and regional banks, insurance companies, family offices, private equity funds and hedge funds interested in participating in Veritas's secured lending investments. Visit us online at www.vfpfinancial.com
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SOURCE Veritas Financial Partners