Recent Fundings

This manufacturer has been in business since the 1930s and had always borrowed from banks.  It has a long history of success until it showed a loss in 2008.  Although the client still had a healthy balance sheet, its bank of several years asked them to find a new lender.  This deal is unique for two reasons:  1) its largest customer will barter its payment several times throughout the year and 2) EGC had to enter into an intercreditor agreement with an inventory supplier that has a first lien on their raw material.  EGC is also providing a $500,000 term loan against corporate owned real estate.  To make the real estate deal more attractive to the borrower, EGC is using a 15 year amortization schedule for the real estate.

This third generation printer had fallen behind on payables and subsequently had tax liens.  This prompted their long term bank to ask them to exit.  EGC was able to replace their a/r facility and bring in a third party equipment lender.  This equipment lender was able to provide enough liquidity to get the client caught up on payables and taxes.

This client had been with a bank that decided to go “upstream,” and no longer focus on loans under $1,000,000.  Because the client only invoices monthly, in order to get this deal done, EGC is providing a full advance on unbilled a/r.