eCapital, a source of business financing, declared on Monday, September 12, that it had established a new branch that would concentrate on offering speedy, adaptable funding to businesses in the healthcare industry.
According to the statement, the division, known as eCapital Healthcare, would provide asset-backed financing to healthcare providers such as hospitals, nursing homes, home-health providers, and mental health providers.
Tim Peters, a seasoned professional in the field, will head eCapital’s healthcare segment as its CEO. The action comes after Peters oversaw eCapital’s purchase of CNH Finance in May.
“eCapital Healthcare builds on the rich tradition of CNH Finance,” said Peters in a statement. “We provide more focus, resources, and technology to develop the division and allow us to reach and help even more healthcare enterprises achieve long-term success.”
According to the release, eCapital now offers loans to businesses across more than 80 industries. Currently, ECapital works with businesses in the US, Canada, and UK.
According to marketing materials, eCapital furthermore offers freight factoring, invoice factoring, lines of credit, payroll funding, and equipment financing in addition to asset-based lending. In addition to the healthcare division, there are further divisions for staffing, wellness, and commercial financing.
Following the acquisition of England’s Advantedge Commercial Finance, which added offices in the Thames Valley, Newport, Manchester, the Midlands, and Glasgow, ECapital first entered the United Kingdom in 2020. Similar to eCapital, Advantedge provided small- to medium-sized enterprises with services including invoice factoring.
Factoring, the process of buying receivables at a discount, has a contentious history, but it has recently earned support after helping businesses survive the COVID-19 outbreak.
