“Our former loan prevented us from growing our company the way we needed to. We found a replacement lender, and then worked with Tech Capital, LLC to secure a larger loan that would let us hire engineers and product developers — all while growing our company and taking care of marketing needs. Tech Capital worked with us every step of the way to ensure that we received the loan we needed to drive expansion without disrupting any business activities.” - Jeff Bennett, President and COO, Allgress, Inc.
A compliance and risk management service provider with robust sales to Fortune 1000 companies. The principals invested their own capital to build the organization and keep up with demand. The principals are experienced, serial entrepreneurs who had previously built and sold a similar business.
Our customer needed to hire more qualified engineers and developers for product development. They also needed a larger marketing budget to sponsor tradeshows to help meet increased demand from Fortune 1000 clients (resulting in a purchase backlog). Working capital constraints made both future hiring and broader marketing efforts problematic.
In addition, a current term loan secured by the company’s assets, had created a limitation on growing their business.
Our customer needed a revolving line of credit for working capital and future growth.
The company found a replacement lender for their original term loan who agreed to release the business assets — providing Tech Capital, LLC the opportunity to come in and structure a customized credit facility to meet their working capital needs.
With an asset-based working capital line of credit from Tech Capital, LLC, the company was able to meet backlog obligations, add capacity and drive expansion without disrupting their business or utilizing “outside” equity.
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