The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
TCA Global Credit Provides $10MM Facility to M Line Holdings
Lenders/Participants
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TCA Global Credit Master Fund L.P [Lender]
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Structure
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Line of Credit
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Amount
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$10.000
Million
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Borrower(s)
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M Line Holdings
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Description
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The first tranche of the facility is $1.7 million which pays off more expensive financing for Eran Engineering, Inc. ("Eran") and Elite Machine Tool Company ("Elite") and will result in a minimum of $300,000 per annum savings straight to the bottom line profit.The total Line of Credit is for $10 million and the Company can obtain, dependent upon various criteria, multiple additional fundings in the future. The facility bears interest initially at 18% per annum and is secured by the receivables and inventory of Eran and CNC machine tool inventory of Elite. Additional fees include a 3% facility fee and $200,000 in preferential shares in the Company that can be repurchased by the Company in six months for the same dollar amount.
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Industry
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Manufacturing
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Related Tags |
TCA Global Credit Master Fund L.P
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ABL Advisor
Deal Tables
2024
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