Services

Asset Based Lending

BOOK DISTRIBUTOR

$2,200,000

Asset-Based Lending

United States

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Client/Industry:
A Buffalo, NY distributor of educational books to state and government agencies throughout the U.S., founded in 1992 and a veteran owned/HUBZone certified small business.

Situation:
The Company wanted to consolidate debt and reduce interest expense.

TFS Solution:
A $2.2 million asset-based lending facility provided a sound solution that enabled the Company to cut costs and increase their bottom line.

FUEL TRADER AND SUPPLIER

$10,000,000

Asset-Based Lending

United States

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Client/Industry:
A global wholesale distributor of petroleum and petroleum products and active bunker fuel trader in the Americas, West Africa, Europe and Asia.

Situation:
The Company’s lender was not providing sufficient working capital and with the fluctuations and uncertainty of the oil industry, they were looking for a new lending partner.

TFS Solution:
A $10 million asset-based lending facility that will support seasonal requirements and enable the Company to take advantage of growth opportunities.

OILFIELD CONSTRUCTION AND MAINTENANCE FIRM

$3,000,000

Asset-Based Lending

Canada

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Client/Industry:
A Canadian-based oilfield pipe construction, installation and maintenance firm serving major exploration and production companies.

Situation:
With the continued decline in the price of oil, banks have begun to reduce their loan portfolio exposure in the industry. The Company was in breach of one of its financial covenants and was notified by their bank that their credit facility was being terminated. As a result, the Company needed to quickly find an alternative lending source and looked for a partner who was committed to the energy industry.

TFS Solution:
A $3,000,000 asset-based lending facility which refinanced the Company’s existing debt and provided ongoing working capital to support the Company’s operations.


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