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.
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