MIAMI – November 16, 2020 – eCapital Corp. (“eCapital”), a leading alternative finance provider in North America, today announced the company has provided a $5 million factoring facility to an importer and distributor of wine and spirits. The beverage company will use the factoring facility to support the company’s new imported product available for purchase from major retailers such as Costco, Total Wine & More, and BevMo!, among others in select states across the United States.
The company chose eCapital due to its experience working with fast-growing companies, knowledge of the alcoholic beverage industry and its requirements, and ability to provide a quick turnaround. eCapital partnered with a third-party purchase order finance company to coordinate the agreement.
“When working with a rapidly growing business, time is a critical factor because of the need to meet distributor and shipping timelines requiring a quick turnaround for approval,” said David Ciccolo, president of eCapital Commercial Finance. “eCapital was able to provide an all-encompassing financing solution by working with a third-party supply chain finance lender and complete the agreement within 10 days, which was the deciding factor for the company selecting eCapital.”
“In addition, as a business experiencing rapid growth, the company chose eCapital because we could provide the capital necessary that would have otherwise been challenging to obtain through applying for a traditional banking line of credit,” Ciccolo added.
About eCapital Corp.
eCapital Corp. is committed to supporting small and middle-market companies in the United States and Canada 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 company 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.
Laura Stadler, eCapital Corp.
Source: eCapital, Corp., 20807 Biscayne Blvd., Suite 203, Aventura, FL 33180