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Align Business Finance Closes $4MM Capital Lease to Probitas Ventures

May 13, 2021, 07:10 AM

Align Business Finance announced the closing of a $4 million capital lease to Probitas Ventures. The facility was structured as an amended and re-started lease that drew upon the increased value of the underlying machinery and equipment to provide additional working capital and to fund the completion of the company’s manufacturing plant.

Probitas (operating as AAC East, LLC) is a manufacturer and distributor of autoclaved aerated concrete (AAC) products, an energy-efficient, fire resistant, and sustainable building material used widely in Europe, Latin America, and Asia. Demand for AAC is projected to exponentially increase in the U.S. and globally due to the cost of traditional building materials (such as lumber) and government mandates and enforcement of stricter building codes related to fire safety, energy efficiency and a reduced carbon footprint.

Align had previously provided a lease to Probitas Ventures, which was due to mature inside one year. When Probitas informed Align that it needed additional funding for a finite period, Align was able to structure a short-term, bridge style financing to Probitas Ventures’ needs.

“The Align team were a pleasure to work with and they made sure the process moved quickly and smoothly,” said Charles Paterno, CEO.

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