eCapital closed a $5 million non-notification ledger line factoring facility for a private equity-backed medical supply company.
The client, a Canadian-based medical supply company selling products to the biomedical and pharmaceutical industries in Canada, Europe and the U.S., recently obtained FDA approval for its main product, complementing existing approvals from Health Canada and the European Union. With this significant milestone, the company, projecting a surge in U.S. sales, required additional working capital to ramp up inventory and receivables to meet anticipated demand.
Facing resistance from its previous lender, which declined to increase exposure due to recent losses, the client turned to eCapital for a solution. Leveraging its expertise and network, eCapital collaborated with Canada Economic Development, Investissement Québec, Business Development Bank of Canada and the client’s real estate lender to provide refinancing and additional capital necessary for the company to execute its growth strategy.
“At eCapital, we’ve mastered the art of collaboration across borders to secure vital financing for companies like this Canadian medical supplier,” Tom Siska, senior vice president of commercial finance at eCapital, said. “While many factors primarily finance U.S. clients, our unique capability to fund Canadian-based clients is just one aspect that sets us apart. Our adeptness in navigating complex deals highlights our expertise and unwavering commitment to supporting businesses during pivotal growth phases.”
