Refinancing Transaction: Arranged $4 Million Credit Facility for Florida Landsite Development Company
US Capital Partners has successfully arranged a $4 Million senior secured credit facility for Steven Counts, Inc., a landsite development company.
With a proven track record in the heavy construction industry since 2000, Steven Counts's activities encompass asphalt paving and production, aggregate mining and processing, concrete block and ready-mix manufacturing, and full-service site development with in-house estimating and surveying. The company is based in Summerfield, Florida.
Steven Counts, Inc. had done a very good job surviving and growing out of the 'Great Recession', but their lines of credit were capped and had no growth potential. The new loan facility arranged by our team at USCP provided significant cash at close, after paying the bank out in full, as well as additional borrowing availability to keep the company growing.
As a lead financial arranger that specializes in business loans for small to middle-market companies, the new credit facility we arranged is designed to retire Steven Counts's existing term loans with the bank, and it will be used to support the company's ongoing growth plans in line with the recovery of Florida's infrastructure and construction industry.
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