Edge Capital Closed Three New Loans During the Height of the Pandemic, Supporting Companies Through This Uncertain Time
Bala Cynwyd, Penn. –While other lenders have gone “pencils down,” Edge Capital, LLC, a leading, national asset-based lender, announced today that it is more committed than ever to provide working capital to help businesses through this time of uncertainty. Context also noted that they are open to purchasing portfolios of asset-based loans. Over the last few weeks, amidst global chaos, Context provided revolving lines of credit to three new companies: a Mining Technology Company, an eCommerce distributor, and a designer and manufacturer of consumer products.
- The Mining Technology company needed growth capital to take advantage of favorable market conditions in the mining industry. The Company required a lender that would provide a flexible solution to both its United States and Canadian operating units. Context was chosen as its partner for its ability to provide a flexible working capital line of credit and a stretch term loan, creating the liquidity needed to execute the Company’s growth plans. The line of credit and term loan allowed the Company to meet its initial obligations and will fund it sales expansion in both the United States and Canada.
- When an eCommerce distributor of toys and branded products needed working capital to support its ability to remain current in its inventory supply, Context was chosen as its partner, creating the liquidity needed to assist the Company’s operations. This line of credit advances on both eCommerce A/R and high levels of inventory. While others in the space are restricted by their leverage provider on how much inventory they can lend against, being privately funded, Context is well-situated to help inventory heavy companies.
- During their first week fully working from home, Context provided a new loan to a Private Equity-owned designer and manufacturer of consumer products. That borrower needed an increased line of credit to support its growing demand. The Company needed more capital available to support its growing back log, above and beyond what it was able to attain from its existing relationship with a traditional bank. Edge Capital doubled its borrowing facility, creating the liquidity the Company needed to achieve its growth goals. The line of credit advances on A/R and on Inventory, including Inventory considered to be Work in Progress. “As the results of the pandemic continue to unfold, private lenders are uniquely positioned to provide flexible working capital solutions to sustain and eventually help rebuild lower middle-market companies,” said Meredith Carter, CEO of Edge Capital. “We continue to stand by our
borrowers to help them through this hard-hitting time and hope that knowing they have a supportive working capital partner provides a form of relief.”
About Edge Capital, LLC
Edge Capital is a leading, national asset-based lender focused on providing flexible working capital for lower middle market businesses that do not qualify for traditional bank financing. During this period where COVID-19 is having a profound impact on working capital needs of many businesses, Edge Capital is increasingly flexible and continuing to take a holistic view of a businesses’ challenges and opportunities. Edge Capital is sector agnostic and works with businesses in the manufacturing, distribution, wholesaling, consumer products, e-Commerce and service industries.
Edge Capital is a subsidiary of Context Capital Partners, LP, www.ContextCP.com, an alternative specialist company that allocates capital to talented investment manages and whose subsidiaries offer a diverse range of investment strategies including hedge funds, liquid alternative mutual funds, and private equity funds.