When an environmental testing company was asked by their bank to seek alternative financing, they reviewed offers from several sources. At first glance, all of the offers seemed the same, but when the company looked closer, they realized the Summit structure fit their needs more closely than the competition.

  • First, Summit was able to offer a higher advance rate (90%) than the others.
  • Second, Summit leveraged inventory to provide $100,000 more initial availability.
  • Finally, Summit did not have any financial covenants in our financing agreement.

Summit was also able to approve the deal within a few days, while others took several weeks to do so. The $750,000 credit facility provided by Summit allows the company to continue on its positive trend, with immediate cash flow to buy product, pay vendors, and support its future growth plans.