Entrepreneur Growth Capital closed a $3 million term loan to a New Jersey distributor of consumer products. The distributor is experiencing a great deal of growth and is expecting a bank line of credit to close in the next six months. EGC provided a six-month bridge, with extensions available if needed, that is collateralized by accounts receivable and inventory.
Dean Landis, CEO, stated, "The company has grown tremendously without outside financing. We are happy to help, even if briefly, until their bank line closes."