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eCapital Provides $10MM Factoring Facility for Energy Sector Staffing Leader

May 16, 2024, 07:49 AM
Filed Under: Staffing Services
Related: eCapital, Energy, Staffing

eCapital completed a $10 million factoring facility for a prominent Canada-based staffing company specializing in the recruitment and management of talent in the global energy sector.

Established in the 1970s, the staffing company swiftly ascended to international leadership within the energy industry. Confronting the challenge of rapid expansion and complex cash management needs, the company found traditional financing options limiting. Encountering inflexibility from their Schedule A bank, which lacked a North American cross-border solution to support their ambitious growth plans, the company sought assistance from eCapital.

Leveraging their knowledge in facilitating cross-border transactions and understanding the intricacies of the staffing sector, eCapital’s team of experts swiftly crafted a customized solution to meet the company’s requirements.  Providing a $10 million factoring facility, which represented a significant increase in availability, eCapital was able to offer ample room for the company to expand its operations seamlessly across borders.

Tom Siska, SVP, Commercial Finance at eCapital, highlighted the vital role of staffing companies in the energy sector, stating, “We are thrilled to partner with this client to support their growth ambitions. Given the industry’s heavy reliance on specialized skills and flexible workforce solutions, ensuring our client's ability to sustain operations and pursue expansion plans is paramount. Our expertise in understanding complex cash management needs and our ability to facilitate seamless cross-border transactions, make eCapital the finance company of choice for SMBs across North America and the U.K.”

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