Skip to main content Announces $20 Million Financing Line From IBM Global Financing

Select a topic or year

MENLO PARK, CA - 07 Mar 2001:, Inc. (Nasdaq: EGGS), today announced that it has obtained a $20 million financing line from IBM Global Financing, secured by's inventory, accounts receivable and other assets.

"In our Q4 2000 earnings call, we stated that we were pursuing a variety of financing opportunities, and are pleased to announce that we have finalized
this credit line with IBM Global Financing," said John Labbett, executive vice president and CFO of "Based on our cash position at the
beginning of the year and this new financing, we believe we will have sufficient funds to take us through to profitability. In addition, we are continuing to explore other financing options in order to maintain a solid cash balance."

"This secured financing line agreement with adds to our broad Commercial Financing portfolio, which provides flexible financing for
inventory, accounts receivable and acquisitions," said William Doscas, vice president, market and sales operations, IBM Global Financing.

Related XML feeds
Topics XML feeds
Global Financing
Hardware leasing, software and services financing, commercial financing, inventory, accounts receivable, term loans, acquisition financing