VA Electrical Contractors, LLC.
Company: VA Electrical Contractors, LLC (“Company”)
Financing Amount: $1,500,000
Financing Date: October 8, 2018
About the Company
VA Electrical Contractors, LLC (“VAEC” or the “Company”) is a premier contracting firm that bnrings in years of experience from large projects and electrical contracts as far back as 1998. VAEC services large commercial construction jobs all the way to small local service type work. Founded by George Green, Dinh Trach, John Verhelst and Huynh Nguyen, VAEC is an industry leader providing years and years of professional contracting and construction experience around the nation.
Situation
As is with typical construction and contracting companies in the industry, the Company had a lot of completed projects but needed to wait until full completion of the project in order to receive funds. On top of the straining relationship with their current lender, VAEC had agreed to fulfill a settlement payment with regards to some outstanding payments with the IRS. Despite the year-to-year growth of the Company, VAEC needed some additional working capital to maintain the growth and address some of the outstanding debt.
Solution
Alantes secured a $1,500,000 line of credit facility in order to help appease the outstanding vendors and lenders in addition to making an earnest payment towards the outstanding IRS settlement plan. “We are extremely happy that we were able to successfully secure this financing facility.” said VAEC’s John Verhelst. “With the facility, we will finally have a little bit more flexibility to execute on more contracts and continue the positive growth that our company has been experiencing. We look forward to even further growth and revisiting additional facilities in the near future with the Alantes team behind our back.”
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
