Access Capital provided a revolving credit facility in the amount of $1.5 million to a software reseller who also provides complimentary IT consulting services. The New York-based borrower has been in business since 1995.
The company was financed via a bank for many years until the bank decided not to renew the existing credit facility while the company was reckoning with pending shifts in its organizational structure. The relationship manager at the bank contacted a member of Access Capital’s business development team to make an introduction to the borrower. Access Capital was then engaged to provide a working capital facility as the company executed necessary changes in its management team.