eCapital Empowers Michigan-Based Services Company with $7MM in ABL Funding

MIAMI – April 17, 2024 – eCapital Corp. (“eCapital”), a leading finance provider for businesses across North America and the U.K., today announced the successful closure of a $7 million asset-based lending deal with a Michigan-based business services provider. This transaction, finalized in late March, highlights eCapital's powerful referral network and dedication to boosting SMB growth.

Encountering resistance from its conventional banking partner, the company pursued a new funding ally to transfer its asset-based loan. After a diligent vetting process to find a suitable finance partner, eCapital emerged as the optimal option, endorsed through a trusted referral relationship. The credibility of the recommendation, combined with eCapital's accessibility, enhanced covenant flexibility, and personalized client assistance, solidified its selection.

Brian Cuttic, CEO, ABL, at eCapital commented, “This deal is noteworthy as it highlights our team's commitment to providing alternative financial solutions for businesses facing challenges with traditional banking agreements. It demonstrates our ability to align our funding model with the specific needs of such clients. We take pride in nurturing strong relationships with organizations seeking flexible financing options, solidifying our reputation as a reliable partner.”

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.