Entrepreneur Growth Capital closed a $3 million term loan for a New Jersey-based distributor of consumer products.
The distributor is experiencing a great deal of growth and is expecting a bank line of credit to close in the next six months. Entrepreneur Growth Capital provided a six-month bridge loan collateralized by accounts receivable and inventory with extensions available if needed.
“The company has grown tremendously without outside financing. We are happy to help, even if briefly, until their bank line closes,” Dean Landis, CEO of Entrepreneur Growth Capital, said.
