Gibraltar Provides Financing Solution for EcoSMART
Gibraltar Business Capital announced that it closed a revolving line of credit for EcoSMART Technologies, a provider of safe pesticide solutions. The working capital financing will be earmarked for operations, sales and marketing efforts in support of the company’s ongoing organic growth, and will help to leverage millions of dollars already invested in the business by major clean tech and green tech venture capital firms, including Element Partners and Rockport Capital Partners, among others.
Working in close collaboration with EcoSMART management, Gibraltar was able to execute the line of credit in an expedited time frame and without the typical restrictions often required by traditional lenders. The term of this facility is for a two-year period, which helps EcoSMART better plan for its ongoing growth and financing needs.
“We are very pleased to have the support and commitment of Gibraltar Business Capital,” said Evan Rogoff, chief financial officer. “The Gibraltar Business Capital team is practical, methodical and took the time to truly understand our business and unique operating environment. They have delivered a tailored solution that provides EcoSMART the financial flexibility to address significant seasonality inherent in our business, and the ability to respond to varying market conditions.”
“We take great satisfaction in being able to support the strategic financing needs of EcoSMART, a unique green tech company recognized for its safe, all natural pesticide solutions,” said Darren Latimer, CEO Gibraltar Business Capital. “As a forward thinking enterprise, and a trusted name in the industry, EcoSMART is poised for continued success delivering products relied upon by both commercial businesses and consumers.”