Entrepreneur Growth Capital closed an $8 million asset-based facility for a wholesale distributor selling products to well known retailers and ecommerce companies. The facility includes a $4 million revolver and a $4 million term loan that will repay existing debt, support current operations and permit management to pursue several growth strategies.

Dean Landis, CEO, stated that “the company faced several upcoming challenges and opportunities. Our innovative approach offered management the ability to pursue these without the restrictions required by their previous bank lender.”

“We are excited to partner with this Midwest based company and provide a flexible structure that fits their objectives,” said Ryan Ray, Vice President of Business Development. “Given the current climate we have seen an increase of distressed and challenged companies needing access to capital.  I am glad that we were able to provide a solution that worked for both parties in an expedited timeframe.