BizCap (Business Capital from around 2002), a national trade finance and advisory firm, today announced that it has arranged and secured $ 8 million in development funding for its recurring client, AlterG, the carpet maker. anti-gravity rolling. This funding will be used to support the existing obligation with the remaining returns accessible to accelerate development efforts and working capital goals, including new product development and expansion into new markets, as well as ‘expanded adoption in rehabilitation and elite athletics.
AlterG first hired BizCap in 2017, when identifying the best financing solution to support their refinancing goals proved difficult. BizCap then succeeded in gaining significant interest from several capital providers in its extensive portfolio of financial partners, ultimately allowing AlterG to finance the rapid growth of their business.
âWhen the time came to seek new sources of capital to fund our growth initiatives, we naturally re-engaged with our trusted advisor BizCap, who previously fulfilled their mandate of securing a credit facility with the lowest cost of capital. as well as the smarter, personalized structure for AlterG, âsaid Charles Remsberg, CEO of AlterG. âTheir process of understanding our business model and strategic plan was meticulous and again resulted in an excellent selection of a capital provider who, together with BizCap, implemented a perfectly suited solution. “
âWe were delighted to receive Charles’s call to bring our proven model back into service,â said Chuck Doyle, President and CEO of BizCap. âAlterG’s innovations in equipment designed for physical rehabilitation and elite sports training have a significant extension into new markets and product lines, and by applying our proven methodology, we have again achieved the optimal capital partner who is confident and already supports AlterG’s vision and growth trajectory. “
Summary of the news:
- BizCap raises $ 8 million in debt financing to keep AlterG growing
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