MIAMI, January 18, 2021 – eCapital Commercial Finance (“eCapital”), a division of eCapital Corp., a leading North American alternative financing solution provider for small and medium-sized businesses, today announced it has provided a $1.5 million debtor in possession (DIP) factoring facility to an industrial LED lighting company in Chapter 11 bankruptcy. The company will utilize the factoring facility to continue operations as they move through the Chapter 11 process.
Dave Ciccolo, president of eCapital Commercial Finance said: “As a patented LED lighting solution provider in high demand from some of the top lighting companies in the U.S., our client is poised for growth and needed an alternative financier to help them through this transition. eCapital worked in partnership with the assigned trustee, the previous lender and the company’s debtors to ensure a beneficial outcome for all parties, and ultimately help them turn the company around.”
As part of the DIP factoring facility, eCapital leveraged its underwriting expertise and underlying technology to provide the organization with fast access to the cash flow it needed pay off debt, increase inventory and drive sales.
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 portfolio companies 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