Wharton Gladden Closes $5 Million SBA Debt Facility
Algenon Cash, managing director of investment banking group Wharton Gladden & Company, announces today the firm has successfully advised B&B Technology Management on a $4 million debt placement. The new capital was provided through the SBA (504) loan program.
In addition, Wharton Gladden helped the company secure a $1,000,000 line of credit utilizing a secondary market finance company, which provided the working capital line by leveraging existing account receivables on the company’s balance sheet.
“Many small businesses find it difficult to effectively manage cash, which can lead to major disruptions in growth plans,” said Cash.
B&B Technology Management is located in Richmond, Virginia and is the leading provider of data storage, management and a wide range of information technology services for small to middle market companies throughout the Mid-Atlantic region.
The company has exploding client growth and needed capital to acquire a new facility and equipment. The line of credit will provide critical working capital that will enable the company to continue filling customer orders while collecting on payments from services already rendered.
According to Cash, “Our growing team of finance experts is eager to help growing companies obtain the necessary capital to achieve carefully planned operational goals and long-term objectives.”
About Wharton Gladden & Company:
Wharton Gladden & Company is a uniquely designed boutique investment banking firm that specializes in providing strategic advisory services, underwriting, capital placement and private equity for a diversified client base that includes corporations, real estate developers, financial institutions, investors, municipalities and high net worth individuals.