Senior

The Company:
Private equity backed, outsourced pharmaceutical service provider conducting clinical research.
TTM Revenue: $17mm |TTM EBITDA: $1mm

The Financing Situation:
The Company had a cash flow based term loan with its bank and was in technical default.  Given the combination of lender fatigue, lumpy sales & cash collections due to the timing of contracts, and high monthly payments on the term loan, the Company was seeking immediate relief.  An asset based lender was not a solution due to timing and the term loan take-out amount would not conform to a borrowing base.

The Solution:
Super G provided a $2.0 million senior secured, interest-only bridge loan for a full take-out of the bank and working capital to support the Company’s immediate financing needs – a flexible structure which will allow the Company to operate its business with sufficient liquidity and buy time to run a full process for a new bank relationship.  Super G was able to get comfortable with the sales lumpiness & YTD financial performance given the Company’s strong track record, accounts receivable collateral, enterprise value, and experienced management team.  Super G was able to close quickly (within 2 weeks) which benefited both the bank (removed loan from special assets) and the Company (covenant light loan, working capital cushion, and debt service flexibility).

The Company:
Designs, manufactures, and supports NextGen compliant avionics systems that improve the safety, efficiency, and affordability of flying.

The Financing Situation:
The Company was seeking to refinance its existing senior credit facility and move on to a new lending relationship to better support the strategic initiatives of the Company. The existing credit facility was based on enterprise value and thus required a comprehensive debt facility (beyond a standard ABL facility) for a full take-out plus additional working capital to support growth.

The Solution:
Super G provided a comprehensive financing solution that consisted of two tranches within the $3.5 million credit facility – $1.5 million interest-only loan and a $2.0 million amortizing term loan. This structure allowed the Company to close quickly (within 3 weeks) and provided debt service flexibilty so that the Company had working cpaital cushion and could focus on business execution. Super G worked closely with the Company’s majority shareholder, Elm Creek Partners, to get comfortable with the business and management team to fund the Company quickly.

For more information on Elm Creek Partners, please contact:
Aaron R. Handler
Co-founder and Partner
aaron@elmcreekpartners.com
214-871-5655
www.elmcreekpartners.com

The Company:

Provider of nationwide parcel logistics services (transportation) and parcel shipping & management software. The Company’s services and software help customers manage an control their business, drastically improve delivery and lower transportation and postage cost.

The Financing Situation:

The Company’s software side of the business won a new large contract and needed upfront working capital to support the implementation costs associated with the contract. Factoring was not an option for the Company due to the milestone nature of the billing.

The Solution:

Super G was able to quickly get comfortable with the software business, the new contract structure, and management team to close a $750,000 loan to solve the Company’s working capital needs. Super G worked closely with the Company’s existing factor, Eagle Business Credit, to finalize an intercreditor agreement and fund the company in 2 weeks.

For more information on Eagle Business Credit, LLC, click here or contact:

Ian Varley

CEO

ivanvarley@eaglebusinesscredit.com

The Company:

Top ten Little Caesars franchisee with over 20 locations in 3 states.

The Financing Situation:

The Company had engaged Trinity Capital LLC, a Los Angeles-based boutique investment bank with expertise in food & beverage, to arrange a capex facility to fund new locations awarded by Little Caesars.  During this process, an immediate capital need arose to retire maturing debt, corporate tax liens, and for short-term liquidity.

The Solution:
Super G was able to get comfortable with the Company’s financing situation because of the owner’s long operating history, number of operating locations, and strong relationship with Little Caesars corporate.  Super G underwrote and funded a senior term loan within weeks, improving the Company’s balance sheet for the capex facility financing and providing sufficient liquidity for short-term working capital needs while Trinity Capital LLC continues its process.  Super G’s ability to get comfortable with tax lien situations and move quickly allow us to be a unique solution.

The Acquirer:

Simply Color Lab, one of the nation’s top professional photography printers.

The Target:

ShootQ, a SaaS company that provides a complete studio management system made especially for photographers. ShootQ’s virtual management software assists its professional photography users in all facets of the sales process from tracking prospective clients, contract and payment management, to client product delivery, and much more.

The Financing Situation:

Simply Color Lab could not obtain enough availability from its senior lender to purchase ShootQ and fund growth.  Simply Color Lab needed a lender that would underwrite the monthly recurring revenue and cash flow of ShootQ rather than focusing on its assets, or lack thereof.  As with all acquisition deals, a quick close was required as well.

The Solution:

Super G was able to get comfortable with ShootQ’s subscriber statistics and monthly recurring revenue to finance a majority of the purchase price with the remainder coming from Simply Color Lab as equity.  Super G structured a non-dilutive 24 month solution for the acquisition that should be highly accretive as it allows Simply Color Lab to further expand its product and service capabilities to provide its customers with a quality management program that will create more efficient business practices and significant cross-selling opportunities.

SaaS Funding Initiative:

Super G Funding recently closed several Software-as-a-Service (SaaS) deals and continues to dedicate more resources to emerging SaaS companies. Super G’s capital is non-dilutive and based on Monthly Recurring Revenue (MRR) rather than profit in order to better enable companies to achieve scale and increase shareholder value. Super G’s SaaS lending product has successfully enabled companies to extend their runway and maximize valuations when pursuing venture capital.

The Company:

ClickNotices, Inc. is the leading Software-as-a-Service (SaaS) provider of court filing and delinquency management services to the multifamily industry. The Company’s cloud-hosted platform and expert court agents offload the administrative burden of managing late rent.  Every month, ClickNotices handles thousands of late rent cases, helping property managers minimize delinquencies, reduce legal costs, and simplify operations.

The Financing Situation:

ClickNotices was bootstrapped, growing quickly and recently turned profitable.  Its founders wanted to invest more aggressively in growth while minimizing dilution.  The Company wanted a financing partner that would provide capital based on a multiple of its recurring revenue and was capable of supporting its growth and possible acquisition strategy.

The Solution:

As a pioneer and market leader in residual loans, Super G was able to quickly understand and underwrite ClickNotices’ revenue stream.  Super G was able to structure non-dilutive growth capital based on a multiple of monthly recurring revenue and close within weeks.

MobileCause Positions Itself for Additional Product Advancement

Newport Beach, CA (July 21, 2015) – Super G Funding (‘Super G”), announced a significant investment in MobileCause, a California company, and leader in mobile fundraising and communication for nonprofits. MobileCause provides a cloud based online fundraising and communication platform for nonprofit organizations enabling them to raise more money at a lower cost.

Super G’s software division, SaaS Funding, provides recurring revenue software companies such as MobileCause with growth capital from $100,000 – $5 million. Super G is led by entrepreneur and payments veteran, Darrin Ginsberg. “MobileCause is extremely well-positioned for the rapid growth of mobile giving and a terrific match for our SaaS Funding product,” said Ginsberg.

“This investment will allow MobileCause to advance product development and accelerate sales and marketing” said Sean MacNeill, MobileCause CEO. “We are excited to be working with the Super G team and welcome the deep payments knowledge and relationships they bring to our mobile efforts.”

MobileCause provides a suite of products for a new generation of giving. Designed to help organizations gain donors, increase recurring gifts and engage supporters, products include Crowdfunding for nonprofits, merchant and payment services, text to donate and mobile alerts. National non-profit clients include: United Way, the Salvation Army, Boys and Girls Club of America and the American Heart Association.

About MobileCause
MobileCause provides cloud based online fundraising and communication software for nonprofit organizations enabling them to raise more money at a lower cost. Each powerful solution is designed to mobilize networks of volunteers, donors and staff while making it easy for people to give and stay connected from any device. Our suite of products: crowdfunding for nonprofits, comprehensive online giving, dynamic event fundraising, text to donate keywords, mobile marketing and smart data records, is designed for a new generation of giving for mobile, online and social. Customers can be up and running in hours with no technical skills required. MobileCause provides turnkey merchant and payment services at a simple flat rate that includes a specialized mobile payment app for nonprofits. Each plan includes dedicated strategy support from fundraising experts. Featured clients include United Way, The Salvation Army, American Heart Association, University of Southern California, Habitat for Humanity and many more.

The Company:

A manufacturer of various Hispanic themed ice creams, frozen yogurt, fresh fruit bars and other icy treats distributed throughout major big box and supermarket chains.

The Financing Situation:

The Company was in technical default with its senior lender and had an immediate seasonal over-advance capital need to finance raw materials for its summer busy season.

The Solution:

The senior lender assigned its note to Super G to facilitate a smooth closing and Super G upsized the loan to provide working capital for the Company’s busy season and position the Company to obtain a new permanent senior lender.  The Super G loan enabled the Company to finance a large seasonal need and to transition to a new senior lender that will provide a revolving facility to support the Company’s continued growth.