Waterworks Products Distributor Secures $20MM in ABL Funding From eCapital
Miami, April 15, 2024 – eCapital Corp. ("eCapital") a leading finance provider across North America and the United Kingdom, today announced the funding of a $12 million asset-based lending facility with an $8 million accordion feature for a North Carolina-based distributor specializing in waterworks products and related items for contractors and municipalities. This infusion of funds positions the company to act on its growth plans and scale its operations.
After evaluating various financing options, the distributor’s bank partner referred them to eCapital, with whom the partner maintains a strong and trusted working relationship. Subsequently, the distributor was confident that eCapital would provide it with a customized finance solution that included optimal deal terms and timelines to suit its goals.
“The forward-thinking approach eCapital has to financing allows us to support companies as they seek to continue to grow during any economic climate,” said Brian Cuttic, CEO, ABL for eCapital. “Our dedication to supporting our referral network creates opportunities for deals like this. We understand the industry-specific challenges of each of our clients, and focus on providing flexible, tailored solutions that meet both their current and future business needs.”
About eCapital Corp.
eCapital is committed to accelerating access to capital for companies in the United States, Canada, and the U.K. By leveraging a team of over 700 experts and proprietary, industry-leading technology, eCapital is creating the future of business funding. With a full suite of products such as freight factoring, invoice factoring, lines of credit, asset-based lending, payroll funding, and equipment refinancing, eCapital ensures businesses have the funds they need to do more. Through its Healthcare, Transportation, Staffing, Consumer Goods, Factoring, and ABL divisions, eCapital delivers customized funding solutions for over 80 industries. To learn more about eCapital, visit eCapital.com.