Equify Business Funding funded two new working capital relationships:
A $5 million asset-based credit facility to a thermal and metallurgical coal distributor based in the Appalachian region
The client was financing operations through internal cash flow and utilized Equify Business Funding to alleviate its working capital constraints due to a high-concentration customer base.
A $1 million factoring facility to a Texas-based component manufacturer for the oilfield industry
The client was previously funding operations through equity and partnered with Equify to free up cash held within its accounts receivable.
