Eclipse Business Capital provided a $23.4 million senior secured ABL credit facility to a distributor of travel products and accessories. The Company primarily sells branded products through Amazon and other various retailers.
The credit facility is secured by accounts receivable, inventory, and intellectual property (IP). The transaction will refinance the Company’s existing debt into a revolving credit facility and an IP term loan.
EBC’s demonstrated track record of executing quickly, coupled with its flexible approach, provided the borrower with confidence that its business needs would be met.