LSQ Creates $15MM Credit Facility, AR Management Program for Pennsylvania Coal Producer

News provided by

Sep 01, 2022, 10:00 ET

ORLANDO, Fla., Sept. 1, 2022 /PRNewswire/ -- LSQ, a leading provider of working capital finance and payments solutions, recently expanded its relationship with Wilson Creek Energy by originating a $15 million credit facility for the Pennsylvania-based metallurgical coal producer.

The company will use the additional capital to expand their operations and take on new clients.

As part of the solution, LSQ will also provide Wilson Creek with comprehensive accounts receivable and credit management to help better manage repayment risk and monitor customer health.

The relationship with LSQ is not a new one for Wilson Creek; they have been a participating supplier in a supply chain finance program sponsored by one of its large steel manufacturing customers.

"We have been using FastTrack for some time now, it has been easy to use and has given us much greater control over our cash flow," said Dan Bonacci, Interim Chief Financial Officer at Wilson Creek. "As we are looking to grow our business outside of the one customer's supply chain finance program, LSQ was a natural fit because we have had success working with them in the past."

"Over the last few years, we have gotten to know the team at Wilson Creek and it is rewarding to grow our relationship with them as their business grows," said LSQ Regional Vice President DJ Krystopa. "Earning and maintaining the trust of our clients is important and we are proud that Wilson Creek has chosen to deepen their partnership with us."

LSQ offers (and partners on) myriad flexible options, including accounts receivable, inventory, purchase order and supply chain finance in facility sizes ranging from $250,000 to $200 million to meet companies' individual funding needs.

About LSQ | lsq.com

LSQ is a market leader and pioneer in working capital finance and payments solutions. For more than 25 years, LSQ has leveraged innovative technology, credit and risk expertise, and proprietary data that empowers thousands of businesses to optimize their working capital, automate and accelerate payments, manage collections, and mitigate risk. Every year, we accelerate billions of dollars in payments to businesses and their suppliers through our LSQ FastTrack platform to help them obtain the funds they need to grow and thrive. LSQ is headquartered in Orlando, Florida. Learn more at www.lsq.com.

SOURCE LSQ