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Growth Capital Obtains Funds For Textile Manufacturer

Growth Capital Associates, Santa Monica, Calif., an advisory company that specializes in arranging tax-exempt industrial development bond (IDB) financing, recently announced that it has completed a low interest rate financing of $4 million for Lafayette Textile Industries LLC, Los Angeles.Lafayette will use the IDB funds to acquire new production equipment to be installed at an existing factory in Commerce, Calif. The funding will enable the company to consolidate its business into one state-of-the-art facility and create more than 120 jobs over the next two years.The consolidation will allow Lafayette to increase responsiveness to market changes and demands, improve product quality through greater control of the manufacturing process, maintain competitive pricing and improve product development efficiency.

September 1999




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