Eyesonic Enterprises Inc.
Share:

Eyesonic Enterprises Inc.

Eyesonic is a cutting-edge tech company specializing in video surveillance solutions, offering high-quality cameras, advanced analytics, and seamless integration for enhanced security. They serve the Canadian and USA market in the wholesale and corporate client verticals.

Eyesonic Enterprises Inc.

Issue

The company was looking for financing and had been declined by one lender in the market. Three years of declining revenue and some issues around the quality of the reporting hurt the company’s ability to obtain financing. However, the banker saw there was a deal to be done so they referred it to Ashdown Capital to take a broader survey of the market.

Solution

Ashdown’s experience helped the client clean up their reporting and present the positive aspects of the deal. Ashdown’s reputation and experience with the lender helped to create a financing structure that set up the client for success.

We used an equity take-out of the property to pay down working capital debt that was locked in due to previous performance. We were then able to get a line of credit based on revolving assets where previously the client worked operating without one. In addition, we were able to reduce the interest rate on the whole
loan portfolio by 125 basis points.

To facilitate a strong year to date performance we negotiated a pre-approval for an increase to the line of credit based on acceptable year-end financial results as a condition precedent to draw down.

Services Used

  • Line of Credit
  • Owner Occupied Commercial Mortgage