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National Funding Announces The Upsize Of Their Bank Credit Facility And The Issuance Of Corporate Notes

Oct 12, 2021•over 3 years ago
San Diego

Description

National Funding, Inc., one of the largest U.S. specialty finance companies serving small- and medium-sized businesses, announced the recent renewal and upsize of a $60.0 million senior secured warehouse line of credit. The facility, which includes an accordion to expand to $75.0 million, was provided by a prominent U.S.-based commercial bank. The facility will continue to be used by the Company to fund new originations and support additional growth of the platform.

Company Information

Company

National Funding

Location

San Diego, California, United States

About

To date, National Funding has provided more than $4.3 billion in working capital and equipment leasing for more than 75,000 small- to medium-sized businesses nationwide. Joe Gaudio, President of National Funding, stated, "These new facilities represent the continued evolution of the Company's funding sources, providing National Funding with a unique opportunity to reduce our cost of funding and access more diversified sources of capital. Having closed this additional financing, National Funding is well-positioned to support its partners and the funding enhances the Company's ability to take advantage of significant market opportunities. About National Funding Founded in 1999, National Funding is a leading U.S. specialty finance company serving small- and medium-sized businesses.