Business Capital Provides $1.5 Million Credit Facility
Business Capital has provided a $1.5 million credit facility for a world provider of aftermarket engineering, service and supply solutions for diesel engines.
The client is dedicated to finding new ways to increase efficiency, maintain operability and profitability via upgrades and enhancements to diesel engines deployed in the field. These heavy-duty engines are used for maritime vessels, pumping oil, generating electricity and power for a wide variety of other large equipment. The company’s patented components, innovative engineering and extensive supply and manufacturing capabilities makes it the premier distributor of replacement parts, covering 40 countries worldwide. The client was in need of a higher working capital facility to fund an expected increase in revenue from a new multi-year, multi-million dollar contract to provide parts and service to one of the most productive oil fields in the U.S.
“Our process generated a tremendous amount of interest in securing competitive growth capital for our client,” said Chuck Doyle, managing director of Business Capital. “We have a long track record and history of working with manufacturers and suppliers in every industry and were able to understand and concisely articulate their particular financial situation to credit committee partners and provide a funding solution customized to our client