Azadian Group's Small Business Growth Fund has provided $190K to a NYC-based commercial fireproofing provider.
The company is a sub-contractor to major general contractors such as Skanska USA, Turner Construction, Sciame, etc. They provide the latest building fireproofing solutions for end-customers including Madison Square Garden, JFK Int'l. Airport, and numerous public and private schools and universities.
The funding was drawn down in increments over the course of 5 months, as needed by the company.
The company is utilizing the capital to hire additional skilled labor to take on bigger jobs.
UPDATE (3/16/15): Azadian Group has advanced this company another $100K, refinancing the outstanding balance into a new, longer term and at a lower rate, based on positive experience with the company.