Access Capital provided a revolving credit facility of $1.65 million and a term loan of $100,000 to an IT consulting company based in New Jersey. The company is also a reseller of software suites.
The company was experiencing losses as well as volatile revenue patterns within the software business. Its lender, a large national bank, suggested the company seek an alternative financing arrangement. Access Capital was introduced to the company via a management consultant and was able to provide financing to replace its bank line and provide additional working capital to support the future plans of the company.