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Bridge Finance Group Commits $26.5 Million Financing Package To Help Rockford Products Corporation Focus On Business Operations CHICAGO, IL – July 26, 2007 - Bridge Finance Group today announced the completion of a Debtor-In-Possession financing arrangement with Rockford Products Corporation. The facility includes a $20.5 million revolving line of credit and a $6.0 million term loan. Rockford Products is an employee owned ESOP that manufactures and distributes steel cold-formed components, fasteners and other related products. The company is based in Rockford, IL and has been in business since 1929. “This financing will allow us to focus on the operations of the business. We anticipate a smooth transition into and out of bankruptcy with the help of Bridge” said Ray Wood, Rockford Products President and CEO. “Bridge Finance Group expects Rockford to exit a much stronger company and better poised to build enterprise value and service its customers” said Randy Abrahams, President and Chief Executive Officer of Bridge Finance Group. ABOUT BRIDGE FINANCE GROUP Bridge Finance Group offers a combination of comprehensive loan products, decades of financial expertise and an unparalleled service approach unique to the lending industry. Through accounts receivable, cash flow and real estate based term loan lending products, Bridge is able to address the differing capital needs of its customers. Bridge is based in Chicago, Illinois with offices in the Northeast, Southeast, and West Coast. Contact: Amanda Bowser, Marketing Associate |
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