December 28, 2011
FinanceSolutions secured and closed a $5.6MM credit facility with Park Sterling Bank for a private distribution-based client in the Carolinas. The facility consists of a $3.5MM line of credit coupled with $2.1MM term debt and consists of superior interest rates and amortization periods than the client’s prior credit facility. “We were very pleased with Park Sterling’s relationship model, forward-thinking approach and flawless execution of the close. The team at Park Sterling has a refreshing “can do” attitude backed by their performance despite harsh credit conditions in the marketplace” said Garrett Fisher, Managing Director of FinanceSolutions. The facility is the culmination of a turnaround engagement involving a full balance sheet recapitalization along with operational restructuring. The facility closed in December 2011.
FinanceSolutions LLC offers turnaround and CFO services to distressed, high-growth and startup companies. In addition to consulting services, the firm handles capital placement, tax issues, and accounting/IT systems. The firm actively serves clients in NC, SC, WA, NY and CA.