InterNex Capital provided a $6 million line of credit to a technology payments company in the financial services industry.
The company sought a working capital line that offered the flexibility to meet its seasonality needs, a daily (versus monthly) borrowing base and additional liquidity beyond borrowing base as required.
InterNex delivered the $6 million LOC with an ongoing stretch facility up to $1 million.
InterNex Capital is a digital lender providing working capital financing to lower middle market businesses. InterNex Capital offers a suite of financing solutions from $100,000 to $10 million for general working capital needs.
Editor’s note: The original version of this article incorrectly referred to InterNex Capital as InterNext Capital in one mention. The error has been corrected. ABF Journal apologizes for the error.