Business Development Co Of Ri

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The Business Development Company is a non-bank lender that works closely with its member financial institutions to provide gap funding to assist promising, but often undercapitalized companies grow and expand. When The Business Development Company was established by legislative charter in 1953, it aimed to be a source of supplemental financing that would allow established, as well as emerging, companies to participate more fully in our nation's postwar prosperity.

Welcome to The Business Development Company Whether your small business needs a loan to purchase equipment and machinery, support accounts receivable and inventory, or invest in growth, The Business Development Company provides capital to companies experiencing difficulty obtaining all the funding they need from traditional sources. Since 1953 we have helped our portfolio companies become stronger marketplace competitors, thereby creating and retaining jobs in Rhode Island and in nearby Massachusetts and Connecticut.

Early Stage RI based Health and Life Science Company Poised Growth A home infusion therapy company with the only licensed, non-hospital based, ambulatory suite in RI, had the right mix of seasoned management, favorable industry position, significant equity injection, and bank financing but was lacking one thing… Enter The Business Development Company with the final $250,000 in mezzanine financing.

The Business Development Company was approached by a banker who was evaluating a customer’s request for additional financing. The local display manufacturer had been negatively impacted by the recession and leaned on the trade when the primary bank’s $450M asset based line of credit was fully drawn. While the primary bank still valued the relationship, it did not have the appetite to increase its exposure. The new financing request included $150M to pay extended suppliers and $100M to support accounts receivable and work in process inventory .

Sometimes It Takes More Than Two to Tango When a company's funding needs fall outside the traditional lending box, The Business Development Company is there to supplement this need. We strategically partner with banks and business owners to help bridge this funding gap. Through subordinated debt lending and flexible financing, we can provide access to funds that are otherwise unavailable to the customer. At TransTex LLC the management team established a growth plan that required a larger and more efficient manufacturing plant.

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