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eCapital Provides $1.5MM DIP Financing for Industrial LED Lighting Company

January 19, 2021, 06:24 AM
Filed Under: Factoring News

eCapital Commercial Finance (“eCapital”), a division of eCapital Corp. 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.

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