Bloomfield Hills, MI (PRWEB) July 29, 2011
HV Capital Investors (HVCI) recently announced that it has provided eCampus.com with an $8,000,000 senior debt facility. eCampus.com, a leading online textbook retailer, will use the funds from HVCI to aggressively expand its position in the textbook rental market. The partnership with HVCI places eCampus.com in position to accommodate their growing brand and revenue stream.
eCampus.com began offering the option to rent textbooks in August 2009. Since then, the rentals have proven to be more cost-efficient for students, saving them even more money than buying new or used textbooks. “The textbook rental market is growing,” said Matt Montgomery, CEO of eCampus. “We are constantly working on ways to provide a low-cost and convenient alternative for students to acquire their textbooks.”
The eCampus.com rental program is straightforward, designed with busy college students in mind, while expanding options and increasing affordability. Anyone can visit the eCampus.com web site (http://www.ecampus.com) and search for a textbook. Once the textbook is located, the customer is able to choose the duration of the rental period. Options are available for three different time frames with varying prices: semester, quarter (90 days), or short term (60 days). the customer needs to keep it longer, he or she can extend the contract. When the customer is done with the textbook, he or she visits the eCampus.com website, prints out a return shipping label, and sends the book back free of charge.
HVCI, a specialty finance company, is very excited about eCampus's prospects. “eCampus.com is firmly established as a low-cost source for textbooks,” stated Glenn Healey, Managing Director of HVCI. “We feel they are well-positioned to further expand their rental offering.”
The additional capital enables us to provide great service to students at the lowest possible cost,” Montgomery said. “Students will continue to reap the benefits that eCampus.com offers through multiple textbook buying options.”
Since its founding in July of 1999, eCampus.com has grown into a major online retailer providing cheap textbooks for college and high school students. eCampus.com’s stated mission is to provide the easiest, fastest, and cheapest way for college and university students to rent textbooks, buy textbooks and sell textbooks. eCampus.com believes the Internet buying experience should be fun and that shopping for textbooks should be as fast and convenient as possible. The company makes a personal commitment to every customer that eCampus.com will be the best source for everything they need.
About HV Capital Investors (HVCI),
HV Capital Investors, LLC (http://www.hvcapitalinvestors.com) is a private investment company that provides debt and equity financing to companies that have the capacity to generate predictable cash flow from operations. The firm provides both senior and subordinated debt, and it makes non-control equity investments through an affiliate. HVCI was formed in 2003 and is headquartered in Bloomfield Hills, Michigan.