nFusion Capital, a provider of financing solutions to small and middle-market businesses, provided a $6 million asset-based lending facility to a Southern California-based electrical contractor. The financing will support the company’s large project backlog and accelerate its regional expansion.
Experiencing rapid growth and expanding into Nevada and Arizona, the company needed a financing partner that could scale alongside its momentum. When its previous lender could not accommodate its increasing capital needs, the company decided to align with a non-bank lender for increased flexibility and scalability. A broker referred the company to nFusion Capital.
nFusion responded quickly, closing the $6 million asset-based lending facility in less than 60 days from term sheet to funding. The financing has enabled the contractor to expand operations, fulfill a significant backlog of projects and capitalize on new opportunities in its expanded markets.
“In less than 60 days, we delivered a $6 million asset-based lending facility to a client that is truly bankable,” Alexandra Scoggin, senior executive vice president at nFusion Capital, said. “With a strong project backlog and a healthy pipeline, they made the strategic decision to leave their bank and partner with a lender who thinks outside the box, offers greater borrowing availability against their assets and can grow in step with their evolving working capital needs.”
