BOSTON--(BUSINESS WIRE)--Crystal Financial LLC, an independent commercial finance company, today announced the closing of a $26.0 million Senior Secured Facility for Gibraltar Capital Advance (“GCA”). Founded in 2012, the Company is one of the leading providers of cash advances to small businesses seeking a fast and flexible solution for growth capital. Based in Chicago, IL, GCA is a subsidiary of Gibraltar Capital Holdings, which also operates Gibraltar Business Capital.
Proceeds from this facility will be used to execute the Company’s strategy of continued growth by providing more small businesses with access to attractive non-bank financing solutions.
“We needed a financing partner with prior experience in our industry, who would understand and value our track record, to provide a facility that would generate maximum levels of liquidity and fund our growth. There is no question that Crystal Financial’s Chris Arnold and the team distinguished themselves very quickly and executed a transaction that met and exceeded our expectations. We look forward to a long-term productive relationship,” said Jim Teppen, GCA President.
Christopher Arnold, Senior Managing Director said, “The GCA team has built a very strong business with a well performing portfolio. We are pleased to be working with an experienced executive like Jim who, with his leadership team of Steve O’Connor and Ed Job, delivers a value added service to small businesses that are often starved for capital. We are confident in their ability to successfully grow their portfolio.”
“We are truly pleased to be GCA’s financial partner and be the capital solution needed to facilitate their strategic objectives just as Gibraltar Capital Advance has done with the thousands of businesses who required both access to capital and certainty. Leveraging our institutional knowledge and teamwork approach, we were able to fund this transaction within a few short weeks,” said Stephen Krawchuk, Managing Director.
About Crystal Financial LLC
Crystal Financial LLC, a
portfolio company of Solar Capital Ltd. is an independent commercial
finance company that provides senior and junior secured loans for both
asset-based and cash flow financings (minimum of $10 million in
fundings) to middle-market companies. Its team of experienced,
responsive professionals has underwritten, closed and managed more than
$20 billion in secured debt commitments across a wide range of
industries. For more information please visit www.crystalfinco.com.
About Gibraltar Capital Advance
Gibraltar Capital Advance, a
wholly owned subsidiary of Gibraltar Capital Holdings, is a growing
Chicago-based provider of cash advances to small businesses throughout
the U.S. The company’s mission is to give small businesses, such as
retailers, restaurants and service providers, a fast and easy
alternative to bank financing. Its creative cash advance solutions solve
immediate cash flow issues, allowing small businesses to fund growth and
build momentum. For more information please visit www.gibraltarca.com.