eCapital named Raphael Torres its new managing director of staffing, a key division of its commercial finance group. Torres will lead a specialized team of account management and operations professionals to support the unique financial needs of the staffing industry.
eCapital’s staffing division has provided nearly $18 million in payroll funding solutions to 17 staffing companies since its inception in late 2021.
eCapital Commercial Finance, a division of eCapital, has delivered more than $10 million in additional funding to clients with existing factoring facilities during the COVID-19 pandemic to help them meet demand for products and services.
eCapital Commercial Finance, a division of eCapital, provided a $2 million factoring facility to a hard seltzer provider to support its increasing production demands.
eCapital provided a $5 million factoring facility to an importer and distributor of wine and spirits. The beverage company will use the factoring facility to support its new imported product available for purchase from retailers such as Costco.
eCapital, a North American alternative finance provider, funded two factoring facilities totaling $3.9 million, including a $3 million factoring facility to a distributor of consumer electronics products and a $900,000 factoring facility to a veteran-owned temporary staffing agency.
Bibby Financial Services has named David Ciccolo, as its new president and CEO for North America, replacing Ian Watson.
Bibby Financial Services brought on board David Ciccolo as its new managing director for its U.S. Factoring & Asset Based Lending business based in Atlanta.