Entrepreneur Growth Capital (“EGC”) Closes $4MM Working Capital Facility
August 27, 2019
Source: Entrepreneur Growth Capital (“EGC”)
Entrepreneur Growth Capital (“EGC”) is pleased to announce that it has closed a $4MM working capital facility to a mid-western wireless phone distributer (“the Company”).
When the Company’s long time bank decided not to renew its facility, it tuned to EGC for creativity and flexibility. The line uses accounts receivable, inventory and marketable securities for its revolver, and telecommunications equipment for a term loan. Receivables include commercial, consumer, and governmental customers, some of which are also being factored.
Dean Landis, President of EGC, stated, “We are very pleased to offer additional working capital to a company that was no longer favored by its bank. It took a little ingenuity and perseverance, but I think that the client is going to be well served and continue on its long track record of success.”
For further information, please contact Dean Landis at 212-838-4858
