Business Capital Structures & Secures $8MM Financing Package for AlterG, Inc.
“Many thanks to the BizCap Team for the fantastic job helping AlterG close two new lenders for our business. When no bank was interested in taking on the challenge of our refinancing, BizCap jumped in and in less than 4 months, secured multiple term sheets from credible lenders. In fact, when we closed both lending agreements I couldn’t believe how low the fees were for their efforts. Especially after going through the diligence and closing process together. Looking forward to doing more business together as our financing needs arise.”– Charles Remsberg, CEO, AlterG, Inc.
Our Client, AlterG, manufactures and sells medical equipment for rehabilitation, athletic training and exercise enablement. The Company owns over 20 patents for its unique technology, including its Anti-Gravity Treadmills. AlterG is a global leader in mobility-enhancement equipment that is used by top healthcare firms, professional and collegiate athletes, and physical therapy clinics worldwide. Their innovative products enable a broad range of patients to regain mobility, develop strength and fitness, and increase range of motion through natural movement – all while minimizing pain and stress on the injury site during rehabilitation.
AlterG’s product and technology is unique with no similar competing product or alternative therapies. Their ability to deliver a marked increase in the quality of service for patients has produced high demand from customers in the medical and physical therapy communities and led to rapid growth in revenue and reputation. Sales are currently strong and forecasted to increase. The Company has been able to attract significant investment capital and was looking for a different debt structure to properly leverage its assets and fund a new business model to support sales growth. A change in management and restructuring had produced a previous period of flat sales making it a challenge to find conventional capital sources.
Business Capital was able to successfully underwrite AlterG’s financial strengths, competitive advantages, market strategy, product and technology, solid investor support, and attract multiple lenders who were able to maximize the amount of leverage needed to refinance outstanding debt and provide for growth capital to fund its business goals and objectives.
“AlterG’s product allows patients to safely achieve mobility and exercise when they might not otherwise be able to. BizCap’s team is made up of several former collegiate athletes, so we can personally appreciate faster rehab with less risk and were particularly excited to get them the financing they needed to support growth”– Chuck Dole, Managing Director, Business Capital