iFabric Corp Secures New $2.5 Million Trade Finance Facility

Executive Summary

• iFabric Corp. secured a new unsecured $2.5 million trade finance facility with Ebury Partners Canada Ltd. to increase financial flexibility for growth and expansion.
• The new facility complements an existing secured credit facility of up to $12 million, providing additional working capital to support anticipated sales growth.
• Management highlighted that the partnership will also give iFabric access to Ebury’s foreign‑exchange expertise and risk‑management tools to better manage currency exposure.

Key Details

• Facility Amount: $2.5 million (unsecured)
• Lender: Ebury Partners Canada Ltd. (a subsidiary of global fintech Ebury)
• Purpose: Provide additional working capital for growth initiatives; support new revenue from recently announced programs; mitigate foreign‑currency risk.
• Existing Credit Facility: Up to $12 million secured line with a Canadian chartered bank.
• Use of Proceeds: Fund sales growth objectives, finance new revenues, and implement currency‑risk mitigation strategies using Ebury’s tools.
• Management Comments: CFO Hilton Price stated the facility “will provide the Company with an additional resource to finance the new revenues anticipated from recently announced programs and initiatives” and will aid in managing challenging foreign‑exchange conditions.

Notable Quotes

“We are extremely pleased to have secured this facility with Ebury,” said Hilton Price, CFO of iFabric. “This will provide the Company with an additional resource to finance the new revenues anticipated from recently announced programs and initiatives… we look forward to working with Ebury to develop ongoing strategies to mitigate our currency risks.”