eCapital Provides $3.9MM in Factoring Facilities to Consumer Electronics Distributor and Veteran-Owned Staffing Company
eCapital, a North American alternative finance provider, funded two factoring facilities totaling $3.9 million.
eCapital funded a $3 million factoring facility to a distributor of consumer electronics products. The company distributes electronics for brands including Apple, Samsung, Google, Microsoft and Sony, both domestically and internationally, and chose eCapital’s commercial finance division to help support business growth.
“When a company experiences rapid growth, they need a financial partner that can provide the necessary capital quickly without the restrictive covenants a traditional bank loan may have,” David Ciccolo, president of eCapital Commercial Finance, said. “eCapital was the ideal partner for this company because we provide the flexible and easy access to the working capital they need to run their business today and into the future.”
eCapital also provided a $900,000 factoring facility to a veteran-owned temporary staffing agency that specializes in the placement of healthcare professionals for the U.S. government. The company chose eCapital’s commercial finance division because it required a lender that understood the government contracting business and could quickly scale according to its contract demands.
“It’s our privilege to support a company that is veteran-owned and also supports government healthcare workers during these challenging times,” Ciccolo said. “As a specialist in lending to government contractors, eCapital is in a unique position to supply the capital for businesses like these to grow to meet our nation’s needs.”
The staffing company has a legacy of government contracting experience with more than 30 years in business managing more than 475 government contracts with the Department of Defense and Veterans Affairs, and across much of the continental United States. The company is also an accredited Service-Disabled Veteran-Owned Small Business and SBA Small Disadvantaged Business.