DRAPER, Utah, April 24, 2012 /PRNewswire/ -- Mazuma Capital, leading national direct lender, today announced it has funded $7.5M so far against an overall $9.4M commitment for a large American coal producer.
The coal producer sought an experienced funding source with in-depth knowledge of the mining industry. There were many challenges present in the transaction from the type, use, and locations of equipment to the challenges present with an evolving global coal market. There were also several factors that presented additional hurdles with the credit due to recent growth and acquisitions. Because of these challenges the financing required innovative structuring components along with solving the coal producer's funding objectives.
The company was concerned that the cash flow of the leases needed to allow for growth initiatives and to provide the ability to expense payments over time as new environmental campaigns were launched. Moreover, Mazuma Capital was able to secure the approvals and work with the company to achieve these funding objectives.
"This coal producer has a very large footprint in the mining industry and they continue to draw upon Mazuma Capital's unique market positions and access to funds to propel their business forward. Through our exclusive access to capital, and aggressive structures we've been able to provide significant value year after year for this company," said Kelly Holladay, Account Executive at Mazuma Capital.
About Mazuma: Mazuma Capital is committed to our client's success. Our unique capabilities and innovative product offerings provide solutions accelerating financial growth. Servicing both rising companies and established businesses, Mazuma continues to secure its position as the middle-market industry leader. We build long-term relationships by delivering on our commitments. Mazuma co-authored the Utah Best Practices Alliance. Mazuma Capital subscribes to the ELFA Code of Fair Business Practices and NAELB code of ethics.
SOURCE Mazuma Capital