Sentinel Security Receives Credit Facility From Alarm Financial Services
The company will use the $750,000 credit facility to consolidate existing debt under more favorable terms and provide capital to meet growth demands.
Sentinel Security will use the credit facility to consolidate existing debt under more favorable terms, as well as to provide capital to meet the growth demands of the company.
GROVER BEACH, Calif. — Sentinel Security Solutions, based here, has received a new $750,000 senior debt facility from Alarm Financial Services (AFS).
Sentinel Security will use the credit facility to consolidate existing debt under more favorable terms, as well as to provide capital to meet the growth demands of the company, according to an announcement. The credit facility includes both term loan and revolving line of credit components with increased borrowing ability as Sentinel’s business grows.
Founded in 2006, Sentinel Security is a family run business by husband and wife Justin and Leela Sherbon. The company, serving California’s Central Coast region, provides access control, intrusion, fire alarm, video surveillance, medical/wellness and audio systems, and home automation as an Alarm.com authorized dealer.
“Working with AFS has been a great experience. [AFS President Jim Wooster, Jr.] has really done a good job getting to know our business and providing the capital needed to successfully continue our growth,“ says Justin Sherbon, Sentinel’s president.
“This capital puts us in a position to bring on additional staff and updated software, as well as consolidate existing debt to more favorable terms. Our operations will run smoother through the transitions setting us up to successfully fuel our growing business,” states Leela Sherbon, Sentinel’s vice president.
AFS provides funding programs from $150,000 to $1,500,000 to small- and medium-sized security, fire alarm and personal emergency response system (PERS) companies throughout the United States. AFS programs include term loans and lines of credit for dealers who are looking to grow their business, consolidate debt, expand operations or buy-out a partner.
“We are excited to be working with such a dynamic company,” says Wooster. “Sentinel has put together a solid business plan and have been effectively implementing it to grow in their market. This is another great example of a security company leveraging the recurring monthly revenue they have created to gain access to capital and further increase that RMR.”
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