eCapital, an AI-powered fintech company building the next generation of specialty finance, provided a $10 million asset-based lending revolving credit facility to a Florida-based flight training company undergoing an extensive operational and financial restructuring. The financing provides critical working capital to support ongoing operations as the company executes a strategic turnaround plan and positions itself for future growth.
Brought in by the company’s new CFO, eCapital worked closely with management to develop a customized working capital solution tailored to the complexities of the restructuring process, which included asset sales, cost reduction initiatives and broader operational changes. The facility features an enhanced advance rate on accounts receivable, includes a foreign receivables component without requiring credit insurance and allows an existing split cash flow term loan to remain in place. The flexible structure provides the liquidity needed to support day-to-day operations while enabling management to focus on executing its turnaround strategy.
“The strongest restructuring outcomes occur when management has the flexibility to focus on execution rather than liquidity constraints,” Mike Conrad, senior vice president, business development officer at eCapital, said. “Our role was to provide a financing solution that supports operational stability today while creating room for the business to pursue its longer-term objectives.”
