Recent Fundings

This temporary help agency was asked to leave its bank of 12 years. Having gone through a recent internal shake up, its books and records would make it unattractive to a traditional lender. It had negotiated with another factor but was unable to come to agree on some key terms. Because EGC has years of experience, and its own in-house counsel, we were able to come create solutions instead of roadblocks and get the bank paid off on a timely basis.

This $50,000,000 turnaround was recently purchased by a private equity group. Despite extensive due diligence, management continued to uncover a variety of issues from the former owners. In fact, the problems were so extensive, that the asset based lender that originally proposed to provide financing, backed out upon performing its field exam. Not only was EGC ready, able, and willing to provide the working capital portion of this loan, but we were able to bring an equipment lender that brought additional capital to the situation.

This venture capital based business had experienced several of the ups and downs of an internet startup, having been founded in the 1990s. They created a new technology and recruited a new CEO to help transition the company. Until this technology could be marketed, the company was going to experience at least two more quarters of negative cash flow. The owners had two alternatives to finance these losses: 1) invest more capital and increase dilution, or 2) find a creative asset based lender that could understand their business model. EGC was quick to respond and came up with a formula that included more availability than any other lender was able to provide.