Essex Capital Group arranged a $500,000 bridge loan for a large crane company in the Midwest.

The 12-month bridge facility was put in place in just five business days, from initial information exchange to funding.

The funds were used to bridge a cash crunch created by delays in closing a total company recapitalization.

Robert Swain, president of Tampa, FL-based Essex Capital, said, “Over the past 13 years that Essex has been raising capital, we have seen numerous situations where unforeseen delays in the process to complete a refinancing can cause financial stress on a company. With this bridge product, we’ve been able to develop a financing program that can alleviate almost any short term financial crisis. We were pleased to be able to step in and assist this company, solving their short term liquidity issue in only a week.”