Equify Business Funding Announces $6,000,000 in New Senior Credit Facilities for Distributor and Manufacturer

Equify Business Funding is pleased to announce the funding of two new working capital relationships: 

• A $5,000,000 asset-based credit facility to a thermal and metallurgical coal distributor based in the Appalachian region. The client was financing operations through internal cash flow and utilized Equify Business Funding to alleviate its working capital constraints due to a high-concentration customer base. 
• A $1,000,000 factoring facility to a Texas-based component manufacturer for the oilfield industry. The client was previously funding operations through equity and partnered with Equify to free up cash held within its accounts receivable. 

Equify Business Funding is an independent direct lender based in the Charlotte area, serving small and lower middle market businesses seeking working capital support for growth capital, turnaround, or expansion. An affiliate of Equify Financial, the Equify group of companies was founded in 2011, focusing on equipment loans and revolving credit facilities.