Lanco, a manufacturer of promotional products based on Long Island, relies on alternative financing from Capital Business Credit to fuel growth.
The company sought out CBC in 2010, as it was looking for a lender that provided more flexibility and would support its growth plans.
CBC developed a $4 million revolving asset-based facility that lends against accounts receivable and inventory. Since the beginning of the relationship, CBC has proven itself to be a formidable partner, helping Lanco grow significantly. In fact, in 2012 and into 2013 the company has experienced double-digit growth.
“CBC took the time to understand our business model and focused on tailoring a product to fit our unique situation. Since they are not affiliated with a bank, they don’t have the same requirements that others do. With their financial support, we have been able to grow significantly,” said Scott Slade, president of Lanco.