Business Capital Closes A/R Line for Cyber Security Firm
Commercial finance and debt restructuring firm Business Capital announced it delivered a $500,000 accounts receivable line of credit for a high-end supplier of network servers and cyber security.
The San Francisco, CA-based company sold its software division to a private equity firm that contacted Business Capital to secure funding to bolster liquidity, complete the transaction and grow the hardware division. Financing was needed quickly, in the 15-day range.
Faced with a challenging time frame, Business Capital said it was able to quickly structure and deliver a credit facility based on accounts receivable. The new liquidity will allow the company to close the sale and continue to grow.