eCapital closed a $7 million asset-based lending deal with a Michigan-based business services provider. The transaction was finalized in late March.
Encountering resistance from its conventional banking partner, the company pursued a new funding ally to transfer its asset-based loan. After a vetting process to find a suitable finance partner, eCapital emerged as the company’s preferred option, as it was endorsed through a referral relationship. The credibility of the recommendation, combined with eCapital’s accessibility, covenant flexibility and client assistance, solidified its selection.
“This deal is noteworthy as it highlights our team’s commitment to providing alternative financial solutions for businesses facing challenges with traditional banking agreements,” Brian Cuttic, CEO of ABL at eCapital, said. “It demonstrates our ability to align our funding model with the specific needs of such clients. We take pride in nurturing strong relationships with organizations seeking flexible financing options, solidifying our reputation as a reliable partner.”
