A More Responsive Financial Partner
Companies need financial partners that support their growth and success over time. That means being willing to revisit and restructure financing solutions based on the organization’s evolving strengths and needs. That was the case for a profitable, Pennsylvania-based metal fabricator that asked their lender for rate consideration. However, after months of delay, the lender ultimately denied the request based on a contingent lawsuit liability.
Frustrated by this experience, the company set out to find a more responsive financial partner that was willing to work more collaboratively to address its current and future business financing needs. They found OCF. Our team worked with the company’s management to understand their business and reviewed their case. We looked at the potential financial impact to the company and the structure of its current line of credit. We then issued a proposal, conducted due diligence and approved a new loan within 30 days.
In addition to improving the loan rate from its previous line of credit, OCF was able to simplify the loan structure and connect the company to Treasury Management Services through Oxford Bank. This helped lower the company’s cost of credit while simplifying reporting requirements.