Garrington Capital (garringtoncapital.com), a leading provider of captial solutions to middle-market companies in the United States and Canada, is pleased to announce the closing of a $2.5 Million Senior Secured Term Loan (the “Loan”) to a coal mine operator located in the Central Appalachian Basin in West Virginia.
In 2020, the borrower purchased the coal mine to produce thermal coal for the steel production industry. The mine is situated on 10,000 acres in the Central Appalachian Basin and includes a cleaning plant and load facility. The funds will be used to acquire four Komatsu hauling trucks to transport the thermal mined coal from the mine to railroad for transport to their offtake partners.
About Garrington:
Garrington Capital US Corp. and its affiliates (collectively, “Garrington”) provide working capital lending facilities ranging from $1 million to $30 million to small- and medium-sized companies through creative investment funding solutions. Garrington has deployed more than USD $5 billion since inception. With offices in Toronto, Chicago, Austin, Texas, and Westport, Connecticut, Garrington has approximately 60 employees in Canada and the United States. Our leadership and investment teams are an experienced, well-seasoned and creative group of investment and finance professionals who have the shared belief that Garrington is well-positioned to respond to the working capital challenges facing small- and medium-sized enterprises. Garrington strives to support entrepreneurial businesses with practical and creative working capital solutions and aims to be the first call when opportunities arise.