Entrepreneur Growth Capital (EGC) closed a $3 million asset based line of credit to a 10-year old, Chicago-based staffing company known as a digital talent marketplace.
After years of missing projections and tripping covenants, the company’s long-time banking partner decided to call its loan. The venture-backed company chose EGC for its flexibility, speed and a successful prior experience with another portfolio company.
“After years of disappointing performance, one of the lead investors took the reins,” Dean Landis, CEO of EGC, said. “The turnaround is slow but tangible and we have confidence in management and the company’s prospects.”
The new CEO added, “Our customers love us; our investors have confidence in us; and now our lender is enthusiastic to work with us. We look forward to a long and rewarding relationship with EGC.”
