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Entrepreneur Growth Capital LLC Provides $2,000,000 Line of Credit to Frozen Seafood Distributor
July 8, 2024
Source: Entrepreneur Growth Capital LLC
Entrepreneur Growth Capital LLC (“EGC”) is pleased to announce the closing of a $2 million asset-based facility for a frozen seafood distributor. The facility provides availability against both accounts receivable, inventory and monthly recurring revenue (“MRR”).
Dean Landis, CEO, stated, “This venture backed company experienced explosive growth during the pandemic. However, when buying patterns returned to normal their existing bank had “lender fatigue.” Most of their business was subscription based and having positive experiences with MRR businesses, EGC was able to offer an attractive alternative to traditional financing.”
About Entrepreneur Growth Capital (EGC):
EGC is a privately held specialty finance company providing asset-based loans from $1 to $15 million. EGC provides revolvers and term loans to companies that either aren’t ready for, or choose not to pursue, traditional bank financing. Throughout its 87-year history, EGC has always served small and middle market borrowers and prides itself on flexibility and direct access to decision makers. For more information, visit www.egcap.com or call 212-838-4858.
