Rosenthal & Rosenthal completed a $2.5 million asset-based lending deal to support the growth capital needs of a company specializing in video remote interpretation technology.
A relatively young brand, the company was experiencing tremendous demand for its interpreter services and technology in 2021, especially within the healthcare sector. With an expectation of continued growth in its industry, the company determined there was a need to invest in its proprietary platform and grow the number of professional interpreters in its network to meet demand.
With no existing outside financing to date, the company was introduced to Rosenthal by another lender to explore options beyond traditional bank debt that would allow for more flexibility with less restrictive covenants. Rosenthal structured a $2.5 million asset-based lending facility that provided more flexibility and availability than traditional institutional financing. The new liquidity from Rosenthal will provide capital to fund the company’s ongoing investments in its technology, workforce and overall business.
“We are so pleased to partner with this growing company and the entrepreneurial team behind it,” Ying Yang, vice president of business development at Rosenthal & Rosenthal, said. “Our asset-based lending facilities are an excellent solution for companies like this who are just dipping their toe into outside financing and don’t want to be bogged down by red tape and other restrictions that often come with more traditional institutional financing.”
