The Problem
Throughout COVID and even prior-to COVID, they were experiencing high levels of growth but with a limited company history on their new product line.
Historical Funding Source
Previously, the company relied on a traditional bank line of credit for working capital, but their bank and other banks were unwilling to extend additional credit due to the limited operating history with the new product, being in a unique industry, the uncertain COVID environment, and high- growth levels with demand outpacing capacity.
CBL's Edge
CBL proved to be a partner who could understand the business, provide additional flexibility and allow them to take advantage of their tailwind.
The Result
CBL doubled the bank’s initial line and has since doubled their LOC as they’ve continued to grow.
Need working capital?
Use our simple 2-step Borrowing Capacity Calculator to see how much your firm could potentially borrow.