MIAMI, February 16, 2020 – eCapital Commercial Finance (“eCapital”), a division of eCapital Corp., a leading North American alternative finance provider for small and medium-sized businesses, today announced the issuance of a $750,000 factoring facility to an industrial staffing service provider.
Recently, demand in the industrial space has grown. As a result, this staffing company began to enter into a period of accelerated growth, acquiring contracts and significantly expanding its business. The staffing company turned to eCapital for a financing solution that could support this increase in demand and provide the funding it needed, enabling the company to grow at a faster pace.
The staffing firm works on a contractual basis, primarily receiving monthly payments on its invoices from clients while paying employees weekly. In order to meet this payment structure, flexible, rapid and reliable cash flow was vital. eCapital’s facility structure allowed for an increase in capital so the company could meet its changing business demands, which resulted in a growing need for cash flow.
President of eCapital Commercial Finance Dave Ciccolo said, “We’re excited to have the opportunity to continue our support of this staffing firm and work with them to accelerate their rapid growth in an efficient manner. Our team at eCapital partners with approximately 90 staffing companies that vary in size. We place a premium on our ability to provide the necessary expertise, guidance and flexible financing solutions that expand alongside our clients’ growth.”
About eCapital Corp.
eCapital Corp. is committed to supporting small and middle-market companies in the United States, Canada and the UK by accelerating their access to capital through alternative financing solutions like invoice factoring, factoring lines of credit and asset-based lending. Through its Commercial Finance and Freight Factoring divisions and its subsidiaries Advantedge Commercial Finance Ltd. and Gerber Finance, Inc., eCapital offers alternative finance solutions to a broad set of industries. Based in Miami, Florida, eCapital is an innovative leader in providing flexible, customized funding to businesses. For more information about eCapital, visit eCapital.com.
Courtney Ford, eCapital Corp.
Source: eCapital, Corp., 20807 Biscayne Blvd., Suite 203, Aventura, FL 33180