Loeb Term Solutions recently funded $8 million to a West Coast metalworking facility specializing in aerospace components.
The term loan provided the working capital necessary to restructure the firm and reassume a majority holding of stock in the firm. Headquartered in the U.S., but with global capabilities in Mexico and the United Kingdom, the client is a leading manufacturer of high-precision, close tolerance, large-scale, flight critical components and tooling for the commercial aerospace, defense, space and industrial markets.
“Fundings of this size require a real team effort. We really enjoy working with the borrower, the business broker, and all the professionals involved in a funding like this one,” stated Jim Newman, Loeb Term Solutions’ Managing Partner. “It is gratifying to be able to help a borrower accomplish something like this.”
This finance deal represents one of two large additions to Loeb Term Solutions’ portfolio this month with the other funding totaling just over $12 million. Since 2010, Loeb Term Solutions has provided funding on over $40 million dollars’ worth of industrial machinery within the food, pharmaceutical, chemical, cosmetic, metalworking, and woodworking industries. The company’s asset-based lending division offers specialty financing for the industrial marketplace with funding amounts ranging from $300,000 to $20,000,000.
Loeb Term Solutions is an affiliate of Loeb offering equipment term loans and purchase leasebacks to the industrial marketplace.