Pathway Capital Corp. Closes $7 Million Revolving Credit Facility for New Jersey Logistics Company
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Pathway is Sole Arranger on the Senior Secured Transaction
We are always pleased when companies come to us time and again to arrange financing efficiently to bridge cash flow needs, reduce debt service or for growth capital.
NYACK, N.Y. (PRWEB)
February 19, 2021
Glenn Thomas, president of Pathway Capital Corp., announced that his firm closed a $7 million senior secured revolving credit facility to a regional trucking and warehousing company in northern New Jersey. Pathway acted as the sole arranger.
The revolving line of credit is collateralized by accounts receivable and inventory, and is being used by the logistics company to finance its ongoing working capital needs. The facility allowed for an 85% advance rate, an advance on unbilled receivables and a silo that enables the company to extend 120-day terms.