Daily News: March 2, 2012

Entrepreneur Growth Capital Inks $1 Million to Robotics Maker

Entrepreneur Growth Capital closed a $1 million credit facility to a Michigan-based robotics manufacturer.

This closely held business was a longtime bank borrower that was asked to exit due to recent losses. The manufacturer’s turnaround was successfully in place and revenues were rapidly increasing.

EGC was able structure a lending facility that met this borrower’s requirement by utilizing AR, both foreign and domestic, and inventory as collateral for the revolving line. Additionally a term facility was provided in order to provide the required capital to retire the existing bank debt and support future growth.