Flexible Funding gets OK to sell assets to eCapital for $51.35 million

By Sarah Lizee

Olympia, Wash., Nov. 10 – Flexible Funding, LLC secured court approval to sell substantially all of its assets to eCapital Corp. for about $51.35 million, according to an order filed Tuesday with the U.S. Bankruptcy Court for the Northern District of Texas.

As previously reported, the company said it engaged in negotiations with eCapital for the purchase of the assets, which resulted in the parties signing a letter of intent on Sept. 29.

The letter of intent was subject to higher and better offers and included a $300,000 breakup fee and a $300,000 expense reimbursement.

The Fort Worth-based asset-based lending and factoring company is primarily focused on the staffing and transportation industries. The company filed bankruptcy on Sept. 19 under Chapter 11 case number 21-42215.

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