Increase to $500 Million Enhances ePlus’ Working Capital Financing Capacity
ePlus inc. a leading provider of technology and financing solutions, announced that its wholly-owned subsidiaries ePlus Technology, inc., ePlus Technology Services, inc. and SLAIT Consulting, LLC (collectively, the “Borrowers”) recently entered into an amendment to their credit agreement with their lenders (the “Lenders”) for which Wells Fargo Commercial Distribution Finance Corporation (“WFCDF”) acts as administrative agent. The credit facility, as modified by the amendment, consists of a discretionary senior secured floorplan facility in favor of the Borrowers in the aggregate principal amount of up to $500 million, an increase from $425 million, together with a sublimit for a discretionary senior secured revolving credit facility for up to $200 million, an increase from $150 million.
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“The increase and adjustments to our credit facility will allow us to continue to support our customers’ IT needs including digital transformation, hybrid workforce support, security, and cloud. We are pleased with the continued support by WFCDF and our Lenders, including two new banks which have joined the facility,” said Elaine Marion, chief financial officer.
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About ePlus inc.
ePlus has an unwavering and relentless focus on leveraging technology to create inspired and transformative business outcomes for its customers. Offering a robust portfolio of solutions, as well as a full set of consultative and managed services across the technology spectrum, ePlus has proudly achieved more than 30 years of success in the business, carrying customers forward through adversity, rapidly changing environments, and other obstacles. ePlus is a trusted advisor, bringing expertise, credentials, talent and a thorough understanding of innovative technologies, spanning security, cloud, data center, networking, collaboration and emerging solutions, to organizations across all industry segments. With complete lifecycle management services and flexible payment solutions, ePlus’ more than 1,700 associates are focused on cultivating positive customer experiences and are dedicated to their craft, harnessing new knowledge while applying decades of proven experience. ePlus is headquartered in Virginia, with locations in the United States, UK, Europe, and Asia–Pacific.
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