Alleon Healthcare Capital closed an $8 million accounts receivable financing facility for a Virginia-based professional services firm providing enterprise consulting, IT modernization and healthcare innovation services.

The company delivers skilled information technology systems integration, secure software lifecycle development, intelligence community support, and a range of program management and administrative support services to various federal government departments and agencies. The company also provides a suite of digital technology and IT infrastructure.

The company approached Alleon Healthcare Capital with a request to leverage its accounts receivable balance to assist with working capital and the refinancing of existing debt. Alleon Healthcare Capital structured the transaction as a financing facility made up of accounts receivable from various government agency contracts with an advance rate of 80% on eligible receivables.

“The company observed first-hand the critical need to improve our nation’s health equity and increase overall access to public health resources. We are excited to assist in the change,” Ben Malyar, vice president of business development at Alleon Healthcare Capital, said.