eCapital Commercial Finance, a division of eCapital, provided a $1.5 million debtor-in-possession factoring facility to an industrial LED lighting company in Chapter 11 bankruptcy. The lighting company will utilize the factoring facility to continue operations as it moves through the Chapter 11 process.
“As a patented LED lighting solution provider in high demand from some of the top lighting companies in the U.S., our client is poised for growth and needed an alternative financier to help them through this transition,” Dave Ciccolo, president of eCapital Commercial Finance, said. “eCapital worked in partnership with the assigned trustee, the previous lender and the company’s debtors to ensure a beneficial outcome for all parties and ultimately help them turn the company around.”
As part of the DIP factoring facility, eCapital provided the lighting company with access to the cash flow it needed pay off debt, increase inventory and drive sales.