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eCapital Provides $12MM Asset-Based Lending Facility to Uniform Manufacturer

Date: Jan 17, 2024 @ 07:55 AM
Filed Under: Manufacturing

eCapital funded a $12 million 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.

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