Wholesale Distributor
The Problem
Due to COVID-related closures causing extended negative performance, bank financing was not an option.
Facility Size
$5,000,000
Collateral
AR & Inventory
Employees
64
The Funding Story
The company approached Edge and a competitor for financing – both issued term sheets. Initially, the competitor was chosen, based on a perceived speed-to-close.
Later, it was revealed that the competitor had “adjusted” their terms from the original term sheet.
Our Edge
Edge was re-engaged for our commitment to our terms, and the flexibility we offered the company.
The Result
Edge funded the company in October 2020, being able to stay true to our original terms, providing the certainty that the company needed.