AEC provides a $1,500,000 factoring facility for Canadian-based property maintenance company
Advanced Energy Capital provided a factoring line for Pristine Property Management, Ltd (PPM) to enhance their working capital position. Pristine Property Maintenance is a mid-size company that has years of experience providing grounds-keeping and landscape maintenance services throughout the Greater Toronto Area. Their focus and expertise lies largely in the grounds and snow and ice maintenance for condominium townhomes and municipal properties.
The 1,500,000 facility was completed and funded on January 17, 2019 and provided significant working capital over and above Pristine’s incumbent lender’s line of credit.
“As a company that invoices in advance of our service and under long term contracts, we needed a capital provider who was comfortable with our operating history to structure a working capital facility that provides us the ongoing capital to propel PPM to the next level,” said Adam Watson, CEO of Pristine.
“Adam’s cooperation, history of corporate success and blueprint for long term growth made our job easy in closing and funding this cross-border transaction” Reported Richard Rudy, Principal at AEC. “We look forward to a long term relationship with Adam and PPM as they continue to execute on their business plan,” said Steven Feldman, Managing Director of AEC.
AEC is a commercial finance company which provides working capital financing ranging from $500,000 to $8,000,000 to small and middle market manufacturers, distributors, and service companies nationwide. Based in New York, AEC is committed to helping businesses increase their capacity for business transactions. AEC’s programs provide companies with capital in a fraction of the time it would take to process a loan through the bank and in many cases provide significantly higher proceeds than the traditional factoring companies and asset-based lenders, while taking on assignments the traditional commercial finance market ignores.
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