Griffin Transportation
Company: Griffin Transportation, Inc. (“GT” or “Company”)
Financing Amount: $5,650,000
Financing Structure: $3,000,000 Real Estate Term Loan, $2,000,000 Accounts Receivable Line of Credit & $650,000 Letter of Credit Facility
Financing Date: November 15, 2024
About the Company
Griffin Transportation, Inc. is a leading provider of freight logistics and transportation services. Specializing in truckload, less-than-truckload, and intermodal solutions, GT has established itself as a trusted partner for businesses across a diverse range of industries. With a fleet of modern equipment and a commitment to operational excellence, the company delivers reliable and efficient transportation services that help its clients streamline their supply chains and drive business growth. Supported by a team with over 20 years of experience, excellence and success, the GT team sets itself above its peers with its breadth of offerings and quality of services.
Situation
Led by owner Craig Scholten, Griffin Transportation sought to refinance its existing high-cost debt and secure additional working capital and credit facilities to support the continued growth and expansion of its operations. With a proven track record of success and a reputation for delivering exceptional service, GT required a comprehensive financing solution that would provide the necessary resources to fuel its ongoing business activities and replace its existing commercial bank lender. It needed a lender that would partner with GT in its current stage but also grow alongside the company and continue to provide additional financing to support the upward trajectory.
Solution
Alantes Corporate Finance secured a $5,650,000 financing package for Griffin Transportation, Inc. This included a $3,000,000 Real Estate Term Loan, a $2,000,000 Accounts Receivable Line of Credit, and a $650,000 Letter of Credit Facility. This financing solution enabled GT to refinance its existing debt, replace its current commercial bank lender, and provide essential working capital to support the company’s growth initiatives.
“The Alantes team has been an invaluable partner in helping us secure the financing we needed to take Griffin Transportation to the next level,” said Craig Scholten, Owner of Griffin Transportation, Inc. “Their expertise and understanding of our business needs allowed them to craft a tailored solution that addresses our current challenges and positions us for long-term success.”
About Alantes
Alantes Corporate Finance (“Alantes”) specializes in capital raises and strategic advisory for small to middle market businesses across the nation. Our team prides itself on our ability to provide unique solutions for all of your business needs. Whether you’re looking to acquire a new company or additional working capital for operations, Alantes is your trusted source for business growth and expansion. Our multi-faceted approach allows us to craft creative solutions that adds value at the most critical junctures so you can focus your resources on core business activities.
For more information on this transaction, contact Alantes Corporate Finance at info@alantes.com
Alantes Corporate Finance, LLC
234 5th Avenue, 2nd Fl
New York, NY 10001
www.alantes.com
