Advantage Capital Partners and its small business lending division BizCapital has provided financing to Old South Brick & Supply Co., a distributor and retailer for bricks, brick supplies, fireplaces and fireplace accessories.
The funding was made in connection with the federal New Markets Tax Credit and Mississippi New Markets Development programs. Both programs are designed to stimulate economic growth in communities that historically have been underserved by traditional sources of capital.
The funding will allow Old South Brick to retain its 60 employee workforce and position itself for future growth. Founded in 1982, the company distributes and supplies bricks, brick supplies, fireplaces and fireplace accessories to the construction industry. It is headquartered in Jackson, Miss., with additional locations in Brookhaven, Batesville and Greenville.
Commenting on the financing, Jerry Crosby, owner of Old South Brick & Supply Co., said: “Given the current economic conditions, this financing from the Mississippi New Markets program will make a critical difference for us and for our employees and customers”.