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Inuvo (INUV) has issued an announcement.
In a strategic financial move, Inuvo, Inc. and its subsidiaries have entered into a substantial $10 million Financing Agreement with SLR Digital Finance LLC, effective July 31, 2024. This agreement, with an initial 36-month term and provisions for renewal, allows the company to borrow against up to 90% of eligible accounts receivable. The terms also include a facility fee and monthly servicing charges, as well as a detailed structure for rates post-advance and stipulations for default situations. This deal marks the termination of a previous loan agreement with Mitsubishi HC Capital America, Inc., as Inuvo moves forward with new financing strategies to bolster its financial standing.
For detailed information about INUV stock, go to TipRanks’ Stock Analysis page.
