MIAMI – January 8, 2024 – eCapital Corp. (“eCapital” or “the Company”), a leading technology-enabled provider of financing to small and medium-sized businesses (SMBs) across North America and the U.K., closed a $245 million increase to the syndicated bank line supporting its asset-based lending (ABL) group. The upsize brings the total facility size to $815 million. The latest increase follows a $110 million line upsizing completed less than six months earlier. Wells Fargo Bank acted as the administrative agent for the lenders and, with Regions Bank and BMO, acted as joint lead arrangers and joint book runners for the facility.
With this latest increase, eCapital’s total bank facility commitments across its three syndicated bank lines now exceeds $1.6 billion. This enhanced capacity allows eCapital to continue offering customized working capital solutions to an even greater number of SMBs. Powered by its proprietary technology, eCapital’s scalable and flexible financial solutions, together with the Company’s extensive financial and sector-specific expertise, help support SMBs in over 80 industries get access to the funding they need.
“Our pipeline of deals remains strong reflecting current market and bank conditions. We are proactively bolstering available liquidity to capitalize on our position and the opportunity,” said Marius Silvasan, CEO of eCapital. “We successfully upsized our bank lines and mezzanine capital availability by more than $400 million during 2023, demonstrating our lenders continued support and reflecting the growth experienced in our portfolio. We remain ready to empower SMBs with unmatched access to capital, enabling them to grow and thrive in any market.”
About eCapital Corp.
eCapital is committed to accelerating access to capital for companies in the United States, Canada, and the U.K. By leveraging a team of over 700 experts and proprietary, industry-leading technology, eCapital is creating the future of business funding. With a full suite of products such as freight factoring, invoice factoring, lines of credit, asset-based lending, payroll funding, and equipment refinancing, eCapital ensures businesses have access to the funds they need to do more. Through its Transportation, Healthcare, Consumer Goods, Staffing, Factoring, and ABL divisions, eCapital delivers customized funding solutions in over 80 industries. To learn more about eCapital, visit eCapital.com.