Super G Provides $1.25 Million Second Lien Seasonal Over-Advance to Complement Bibby’s ABL Facility
A sponsor-backed company that formulates and distributes impression fragrances.
The Financing Situation:
The Company recently transitioned from a commercial bank lender to an asset based lender, Bibby Financial Services. The Company required a seasonal-over-advance to build inventory and maintain vendor relationships in order to fulfill anticipated sales order growth for the holiday season.
Super G was able to get comfortable with the Company’s operating history, 2016 growth initiatives, management team and seasonal cash flow. Underwriting and approval process of the 2nd lien loan took place quickly allowing Bibby to reduce its over-advance position and providing the Company with enough liquidity to meet immediate seasonal production demands. Super G’s covenant light loan documents, cooperative process with existing senior lenders and rapid decision making allowed for an efficient and seamless closing.
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.