NexMatrix is one of the largest manufacturers of non-woven fabrics in the geotextile industry. Their fabrics are used worldwide in industrial and commercial applications, as well as in the production of a wide variety of consumables ranging from home and garden and furniture and bedding applications. NexMatrix has three manufacturing plants in India, and distribution warehouses in Charleston, Houston, Los Angles, Toronto, and Vancouver.


NexMatrix was in a significant growth period, having secured substantial contracts with retailers in the USA. This growth was fuelled in-part by COVID-driven spikes in demand for home improvement goods but mostly due to the long-term vision and steadfast drive of the management team. To increase production accordingly, NexMatrix was funnelling resources toward the purchase of capital equipment for oversees manufacturing, as Canadian lenders hesitated to finance offshore equipment. With much of their profits and liquidity tied up in equipment, the company had little working capital maneuverability for purchasing raw materials.


Ashdown went to work to find a bespoke financing solution that paired high loan-to­-value for inventory financing with flexible reporting and covenant structure, allowing the client to continue to take advantage of buyer financing programs from their customers while getting maximum value for on the ground inventory. We carefully evaluated the benefits of Asset Based Lending versus a conventional line of credit, ultimately pursuing conventional financing to minimize reporting. We packaged NexMatrix’s strengths and needs for market, and successfully partnered them with a senior lender along with Export Development Canada – two partners who understand and support their future growth.

NexMatrix is now able to focus on bustling production timelines and enjoys the day-to­-day benefits of flexible working capital.

Client Testimonial

“Matt MacGregor and Ashdown did a great job in guiding us on each step of the process. They provided a summary of requirements and were very prompt on all replies. Weekly meetings to help Nex Matrix meet our strict deadlines on financing. Very turn key approach. Excellent experience all around.” – Bobby Shokar, CEO, NexMatrix Corp.

Services Used

  • Line of credit