Stonebriar Delivers $12MM Loan Financing to Auto Parts Manufacturer
Stonebriar Commercial Finance announced it has provided $12.0 million of acquisition loan financing to a major automotive manufacturer of OEM and aftermarket parts.
The proceeds of the loan were used in conjunction with other capital to acquire a major Canadian manufacturer of automotive and truck body structural parts. This acquisition added to the U.S. based parent company’s extensive stable of products of OEM and aftermarket parts with operations in North America, Europe, China, Mexico and Canada.
Management with the parent company commented, “The approval and funding process with Stonebriar was as seamless and fluid a process as we have encountered and we will continue to look at Stonebriar for our equipment financing needs.”
Tom Linebarger, direct sales representative for the upper Midwest territory added, “Stonebriar was able to meet management's three week commitment deadline due to the closing date of the acquisition. Our streamlined credit and documentation process enables Stonebriar to respond in an efficient and timely manner. "
Since its inception in April, Stonebriar has committed to in excess of $160 million in financings with over $120 million funded to date. Stonebriar specializes in transactions for businesses in a wide variety of industries throughout the entire credit spectrum located in the United States, Canada and select other foreign jurisdictions. Stonebriar is a privately held commercial finance company established in 2015 and based in Plano, TX. With financial backing from Security Benefit Corporation.
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