Super G Funding Closes $1.5 Million 2nd Lien Financing for Professional Audio Electronics Manufacturer
A leading designer and manufacturer of software, hardware and related accessories for professional audio recording and live sound applications worldwide.
The Financing Situation:
The Company had engaged an investment bank to arrange a more flexible credit facility that would scale with the Company’s anticipated growth. To avoid pressures on shipping windows during the investment banking process, and pending completion of a new senior debt facility, the Company projected extra working capital requirements which created a need for 2nd lien debt capital that could close quickly.
Super G underwrote and approved a 2nd lien term loan within weeks and worked in partnership with the existing senior lender on an intercreditor agreement to close the transaction quickly given the time sensitivity. Super G was able to address the short-term capital need with a structured solution that provided a custom repayment schedule and our covenant light documents made it easy for the investment bankers to continue their debt raise process. Following the closing, the Company was successful in replacing its senior capital with a more flexible lender.
Super G Funding is an alternative lender with over $100MM in committed capital specializing in residual and cash flow loans. Our mission is to fill the credit void in the lower middle market by providing non-dilutive, senior and subordinated debt solutions to businesses in need of financing for working capital, growth capital, acquisition capital, or special situation financing. We lend up to $5MM per transaction in the form of a fully-amortizing cash flow term loan with a 6-36 month term (pricing contingent on credit profile). We are a small, but nimble team and highly responsive. We have over 100+ borrowers around the country and are able to give quick responses and close deals rapidly.