Entrepreneur Growth Capital Provides $1.5MM ABL to Education Company

Entrepreneur Growth Capital provided a $1.5 million asset-based line of credit to an Ohio-based provider of educational tools.

The 20-year-old company was purchased by a New York-based private equity firm. Although slowed by the COVID-19 pandemic, the company pivoted by purchasing another company that was focused on hybrid learning models. Between the acquisition and uneven cash flows due to academic year cycles, the company turned to Entrepreneur Growth Capital to provide liquidity against its receivables and inventory. Once the deal was closed, the private equity firm felt more comfortable in providing additional capital for future acquisitions.