Entrepreneur Growth Capital Provides $5,000,000 Line of Credit to Housewares Manufacturer

Entrepreneur Growth Capital (“EGC”) is pleased to announce the closing of a $5 million asset-based facility to a family owned manufacturer of chef-quality kitchen products.  Like many in its field, the Company saw unprecedented growth during the pandemic, but when demand fell off, management failed to adjust.  Two years of losses ensued and the Company was in need of a more flexible lender.

The credit facility provides availability against both accounts receivable and inventory and is sensitive to both the seasonality of the sales cycle and the concentrations created by some big box retailers.

Dean Landis, CEO of EGC, stated, “EGC has really enjoyed working with management.  About six months ago, they brought on a new CFO who has really helped turn the company around.  With the increased availability under EGC line of credit, we expect the Company to meet and surpass its previous level of success.”

About Entrepreneur Growth Capital (EGC):

EGC is a privately held specialty finance company providing asset-based loans from $1 to $20 million.  EGC provides revolvers and term loans to companies that either aren’t ready for, or choose not to pursue, traditional bank financing.  Throughout its 88-year history, EGC has always served small and middle market borrowers and prides itself on flexibility and direct access to decision makers.  For more information, visit www.egcap.com or call 212-838-4858.