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ENGS Commercial Capital Closes $30MM Facility for Tech Firm

July 23, 2020, 07:11 AM
Filed Under: Factoring

ENGS Commercial Capital announced the recent closing of a $30 million Non-Recourse Factoring Facility for an industry-leading technology services company.  For over 40 years, the company has been providing its customers with data and analytics that can be used in making essential marketing and supply chain decisions.
With growth plans in mind, the company was seeking to gain liquidity by selling a portion of its accounts receivable. Based on the company’s long and successful history along with the diversity within their investment grade customer base, ENGS was able to structure an accounts receivable financing solution that addressed all the company’s needs. The off-balance sheet facility met the true sale requirements that were required by its senior lender, legal counsel and CPA firm.

ENGS Commercial Capital, a Mitsubishi UFJ Lease and Finance company, provides working capital financing solutions to companies in a broad range of industries, size, and credit profiles.  The combination of a strong capital base, along with a variety of product offerings and a creative approach to providing financing solutions makes ENGS a great resource and partner.

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