ENGS Commercial Capital Closes $30MM Working Capital Facility

ENGS Commercial Finance’s working capital subsidiary, ENGS Commercial Capital, closed and funded a $30 million non-recourse factoring facility for a market technology services company.

The company has been in business for more than 40 years and provides data and analytics used in making marketing and supply chain decisions. With growth plans in mind, the company was seeking to gain liquidity by selling a portion of its accounts receivable.

According to Tania Daniel, managing director of ENGS Commercial Capital, based on the company’s history, along with the diversity within their investment grade customer base, ENGS Commercial Capital structured an accounts receivable financing solution in partnership with fintech provider PrimeRevenue. The off-balance sheet facility met the true sale requirements that were required by the company’s senior lender, legal counsel and CPA firm.

ENGS Commercial Capital, a subsidiary of ENGS, a Mitsubishi UFJ Lease & Finance company, provides factoring, asset-based lines of credit, supply chain financing and floor plan financing.

ENGS, a Mitsubishi UFJ Lease & Finance company, provides lease and loan solutions to the transportation, construction and industrial equipment segments, and is also a provider of working capital and insurance products.