GMAC Commercial Finance’s (GMAC CF’s) Retail Finance Group announced the closing of a US$10 million fully-secured revolving credit facility to fund the ongoing working capital needs of J.L. Hammett Co. (Hammett), a speciality retailer to the educational marketplace.
"We had been working with traditional banks for many years. While we enjoyed these relationships, we found the creative approach of the Retail Finance Group at GMAC CF to be instrumental in propelling our business forward; this at a point where economic times demand a forward looking approach and partnership between a retailer and their lender," said Rick Holden, president and CEO of J.L. Hammett Co.
