Success Stories

Finance of a bank workout. An Indiana building materials distributor was the victim of misrepresentations on behalf of the seller when the company was sold to the current management team. As a result, performance was below everyone's expectations. As the company was turning around its operations, its bank grew weary of the relationship and began reducing the company's advance rates to get them to refinance. Puritan structured a revolving line of credit to provide the working capital the company needed to run their business effectively. Spending time with management, Puritan was able to see the upside in the deal. Since closing, the company has performed well, creating a win-win situation for both parties.

Interim relief financing. A banker brought this 100-year-old family-owned Illinois plating company to us. The bank had a longstanding relationship with the company, but couldn't extend further credit they needed for additional working capital. Puritan was able to make the loan, and the bank continues to provide the company with cash management services. Eventually, the company will be able to return to conventional financing through its bank.

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