Eclipse Business Capital (EBC) provided a $40 million M&E term loan facility to an existing customer in the steel industry. In conjunction with the term loan, EBC increased the company’s revolving credit facility by $25 million from $125 million to $150 million. The initial revolving credit facility transaction was closed in April of 2022.
The credit facilities are secured by accounts receivable, inventory, and machinery and equipment. The proceeds will be used to refinance an existing term loan facility and support the company’s reinvestment in its manufacturing plants.
