MIAMI – January 17, 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., announces the recent funding of a $12MM asset-based lending facility tailored to support a US-based manufacturing company experiencing financial stress.
The manufacturing company faced difficulties in meeting the covenants of their existing bank loan, which ultimately led to the termination of their credit line. After evaluating alternatives from various banks and lenders, eCapital was selected as their new financial partner with a customized and innovative solution that met their immediate working capital needs and set the stage for long-term success.
The inherent flexibility in the asset-based lending facility played a key role in the company’s decision to choose eCapital. By leveraging accounts receivable and inventory, eCapital provided the financial support needed to help the client rebuild their balance sheet, secure new contracts, and maintain their relationship with their existing bank for treasury services.
“This significant asset-based lending facility underscores our commitment to supporting businesses during challenging economic times. At eCapital, we understand the unique industry-specific requirements of our clients and can provide flexible solutions tailored not only to address immediate concerns but also designed to handle change and pave the way for achieving their financial goals and greater success,” said Brian Cuttic, CEO, Asset-Based Lending, eCapital.
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, Staffing, Consumer Goods, Healthcare, Factoring, and ABL divisions, eCapital delivers customized funding solutions in over 80 industries. To learn more about eCapital, visit eCapital.com.