Challenge: A well-established construction material supplier was incurring significant losses. They’d implemented a smart plan to return to profitability, but the bank couldn’t renew their line of credit without seeing more progress. Their banker referred them to Catalyst with the mutual understanding that within a year, the bank would try to reinstate their line of credit.
Funded: Within 30 days, Catalyst was able to step in and provide a $5,000,000 facility to meet the company’s working capital needs. The smooth handoff and efficient transition ensured there was no interruption in the construction material supplier’s business. To date, the company has been able to increase sales and is on track to reinstate their LOC with their banker within the year.
“It was the experience and outcome everyone wants when they make a referral in business, but rarely happens. It was easy for me; good for all parties; and the turnaround time was very fast, even in the midst of a pandemic. The company still banks with us, and the implementation of a quick solution with Catalyst made what could have been a complicated problem, be a smooth solution.”
– Executive Vice President & Bank Referral Partner