Success Story

Steel Fabricator

Established in 1989, the Company is a steel and plastics fabricator in California’s Central Valley where they produce various metal and plastic products including mild steel sheets, aluminum angles, stainless steel tubes, and various other metal and plastic items.

Catalyst

The Company took on a large contract to fabricate structural beams for a real estate development project. The project was faced with numerous delays and what was anticipated to be a six-month job turned into a three-year ordeal. As a result of the delay, the company was faced with a lack of working capital to pay key suppliers and for operating expenses. PCC was able to quickly understand the issue and properly structure a working capital line of credit supported by Accounts Receivable and a term loan supported by Equipment.

Conclusion

With the flexible financing package, the PCC line of credit and term loan gave the Company the necessary funding to repay the trade suppliers and bring them current, provided working capital for operating expenses, and provided excess availability to bring in materials for future jobs.

The Company now has unused credit with key vendors and is able to take on customer orders that it previously turned down before obtaining the PCC credit facilities.

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