Marware

CASE DESCRIPTION

  • Company was in it’s 16th year of development
  • Funded organically
  • Rapidly expanding
  • Uneven cash flow cycle, product cycle coincides with Apple product release

  • Finanical records unaudited or reviewed
  • Not properly capitalized
  • Rapid growth outstripping working capital

  • Brought the financial records up to date and adjusted prior year misstatements
  • Created credible budget for the next twelve months
  • Determined that the ideal loan was an asset based revolver with a yearly cleanup
  • Prepared loan package with reasonably predictable visibility and company actual results mirrored 1st quarter results

  • Term sheets offered by multiple banks
  • Closed rapidly after first quarter results

CASE DETAILS

Company:

Marware


Industry:

Consumer Products


Loan Type:

ABL


Amount:

$1,500,000


Term:

3 Year Revolver