Entrepreneur Growth Capital (“EGC”) is pleased to announce the closing of a $10 million asset-based facility to one of Amazon’s leading brand developers (“the Company”).
The credit facility provides availability against both accounts receivable and inventory and provides for a $5MM seasonal overadvance. The client is well known to EGC as it was a client for several years before graduating to a money center bank. In a bittersweet scenario, the Company had a couple of difficult years and was asked to find another lender.
Dean Landis, CEO of EGC, stated, “The Company had a terrific track record with EGC and we hope that round two has the same positive performance.”
