Express Business Funding Provides $5.65M Mixed Facility & $250k Revolving ABL to Subsidize Sales Growth, CRA Arrears, and Partner Buyout

Toronto, Canada – November 2023: Express Business Funding (EBF) provides a fast-growing Canadian construction firm with the capital required to mitigate three critical pain points.

The customer experienced substantial sales growth post-2021 and expanded beyond its bank’s capacity. A $4,000,000 factoring facility allowed the business to address immediate cashflow shortfalls, as well as arrears with the CRA, while a $250,000 revolving Asset-based Loan allowed the business to maintain positive supplier & subcontractor accounts.

$1,650,000 ABL structured bridge financing allowed one of the firm’s partners to purchase a controlling share in the business and maintain the business’s upward trajectory.

“It’s important to understand a business’ needs before offering a solution. Alternative Finance isn’t a one-size-fits-all solution, and this project exemplifies that. We worked hard to strike a balance between short- and long-term needs, and I believe that we found the right mix for the customer in this case,” says Kevin Fagundes, EBF’s Chief Financial Officer.

***

Express Business Funding is a leading Alternative Finance Service Provider based in Burlington, Canada. EBF strive to not only provide superb quality service but also strive to redress the negative connotations that accompany the alternative finance industry. This is done by way of exemplary service, delivering on promises made, and providing informative content highlighting the pros (and cons) of engaging an alternative financer. Find out more at www.ebf.ca