An organization that provides company finance called eCapital said on Monday, September 12, that it had opened a new division that would focus on providing quick, flexible funding to companies in the healthcare sector.
The subsidiary, known as eCapital Healthcare, will offer asset-backed finance to healthcare organizations like hospitals, nursing homes, home-health agencies, and mental health providers, the announcement said.
Tim Peters, a seasoned expert in the industry, will serve as CEO of eCapital’s healthcare division. The move follows Peters’ supervision of eCapital’s acquisition of CNH Finance in May.
According to a statement from Peters, “eCapital Healthcare draws on the long legacy of CNH Finance.” “We provide the division greater emphasis, resources, and technology to enable us to reach and assist even more healthcare organizations achieve long-term success.”
The press release states that eCapital currently provides loans to companies in more than 80 different industries. ECapital now works with companies in the US, Canada, and the UK.
Marketing materials claim that in addition to asset-based lending, eCapital also provides freight factoring, invoice factoring, lines of credit, payroll funding, and equipment finance. There are further divisions for staffing, wellness, and commercial financing in addition to the healthcare section.
ECapital initially established itself in the UK in 2020 after acquiring England’s Advantedge Commercial Finance, which added offices in the Thames Valley, Newport, Manchester, the Midlands, and Glasgow. Advantedge offered small- to medium-sized businesses services including invoice factoring, much like eCapital did.
Although the practice of factoring, which entails purchasing receivables at a discount, has a tumultuous past, it has lately gained popularity after assisting businesses in surviving the COVID-19 epidemic.
