Rosenthal & Rosenthal has completed two recent asset-based lending (ABL) transactions totaling US$8m.
The first transaction was with a New York-based corporate uniform manufacturer for fast casual restaurants, grocers and convenience stores that was in need of additional working capital to support growth. The company was expanding its business with new and existing clients that were requesting longer sales terms and larger inventory replenishment levels. As a family-owned business, the company was looking for more flexibility from a non-bank lender that could offer less restrictive covenants and grow with the business over time. An accountant referred the company to Rosenthal, which provided a US$3m ABL facility against receivables and inventory to support the working capital needs of the business as it expanded.
