SAN FRANCISCO – (COMMERCIAL THREAD) –BizCap® (Business Capital since 2002), a national trade finance and advisory firm, today announced that it has structured and successfully secured $ 8 million in growth financing for its loyal client, AlterG, the creator of the anti-treadmill. gravity. This funding will be used to repay existing debt with the proceeds remaining available to accelerate growth initiatives and working capital needs, including new product development and expansion into new markets, as well as broad adoption. in rehabilitation and elite athletics.
“When the time came to seek new sources of capital to fund our growth initiatives, we naturally re-engaged with our trusted advisor BizCap, who previously fulfilled their mandate of securing a credit facility with the lowest cost of capital. as well as the smarter, personalized structure for AlterG, ”said Charles Remsberg, CEO of AlterG. “Their process of understanding our business model and strategic plan was meticulous and once again resulted in an excellent selection of a capital provider who, together with BizCap, implemented a perfectly suited solution. ”
AlterG first hired BizCap in 2017, when identifying the best financing solution to support their refinancing goals proved difficult. BizCap then succeeded in gaining significant interest from several capital providers in its extensive portfolio of financial partners, ultimately allowing AlterG to finance the rapid growth of their business.
“We were delighted to receive Charles’s call to bring our proven model back into service,” said Chuck Doyle, President and CEO of BizCap. “AlterG’s innovations in equipment designed for physical rehabilitation and elite sports training have a significant extension into new markets and product lines, and by applying our proven methodology, we have again achieved the optimal capital partner who is confident and already supports AlterG’s vision and growth trajectory. ”
BizCap® is a proven national commercial finance and consulting company specializing in non-dilutive personalized security credit-based solutions for fast growing or struggling mid-market companies nationwide that require unique, timely and tailored financing structures to meet their particular needs, especially where conventional sources of capital are not an option. BizCap is a proud supporter of Team IMPACT, a national non-profit organization that connects children facing serious and chronic illnesses with local college sports teams, creating lasting connections and life-changing results.
AlterG® develops transformative, gravity-defying technology to empower and inspire people to achieve their physical aspirations. Our patented differential air pressure (DAP) technology redefines what is possible in rehabilitation and athletic training by increasing physical deficits and increasing mobility to improve orthopedic rehabilitation, neurological and chronic disease management, active aging and athletic efforts. AlterG products are found in thousands of leading sport and physical rehabilitation facilities around the world.