$2,000,000 Accounts Receivable Growth Capital Facility
Electronic Vehicle Charging Station Provider Seizes Growth Opportunity
This Maryland-based company is one of the leading electric vehicle (EV) charging station manufacturers in North America. The company has three revenue streams; equipment sales, maintenance revenue and network service fees.
and network service fees are paid to the company in advance, but in order to optimize the Electrify America program, the manufacturer needed additional working capital to speed up their cash flow cycle.
Accord was able to meet the company’s growth needs by providing a notification, recourse growth capital facility, using equipment sale receivables. The solution offered immediate working capital for the company to capture leading growth opportunities in the industry.