CapitalSource Provides $50MM Revolver to National Funding
National Funding announced that it entered into a loan and security agreement deal with CapitalSource, a division of Pacific Western Bank.
Under the agreement, CapitalSource is providing National Funding with a secured loan of $50 million. This new credit facility provides National Funding with an increased amount of flexibility to capitalize on key marketplace opportunities, including the ability to invest in new products and to expand their marketing presence.
“We have been growing to meet the high demand we are seeing in the marketplace, and see incredible potential for innovation,” said Dave Gilbert, founder and CEO of National Funding. “This is a significant relationship that will allow us to increase the amount we can lend to our customers, and grow National Funding in new and exciting ways.”
“CapitalSource is pleased to provide this loan to National Funding.” commented Christopher Hague, group head, Lender Finance at CapitalSource.
“National Funding has a seasoned management team and a strong track record of success. The firm is well positioned for growth and we are pleased to play a role in funding their success.”