GemCap announced a $1.0 million term loan to a developer and manufacturer of medical devices.  The loan is based against the company’s machinery and equipment.

“The company is pre-revenue and this loan is an important part of funding the research, development, and manufacture of its medical devices”, said Richard Ellis, Co-President. “This is an innovative Company and we are excited to help support this start-up”.

GemCap additionally extended a $9.8 million term loan against machinery and equipment to an automotive factory and a $4.5 million revolving facility against inventory and accounts receivables to a manufacturer of casual and functional footwear. 

GemCap is an asset-based lender specializing in inventory, equipment and accounts receivable loans from $500,000 to $10 million.