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ENGS Commercial Capital Closes $30MM Working Capital Facility

August 06, 2020, 07:18 AM
Filed Under: Technology

ENGS Commercial Finance Co. announced that its working capital subsidiary, ENGS Commercial Capital (ECC), recently closed and funded a $30 million non-recourse factoring facility for an industry leading market technology services company.

For over 40 years, the company has been providing their 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 their accounts receivable.

According to Tania Daniel, Managing Director of ECC, based on the company’s long and successful history, along with the diversity within their investment grade customer base, ECC was able to structure an accounts receivable financing solution, in partnership with fintech leader PrimeRevenue, 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.

ECC, a subsidiary of ENGS, a Mitsubishi UFJ Lease & Finance company, specializes in helping businesses with their cash flow needs through working capital solutions. ECC provides factoring, asset-based lines of credit, supply chain financing and floor plan financing.

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