Hercules Capital expanded its credit facility with Wells Fargo Capital Finance under which EverBank has committed $25 million, for a total of $120 million in credit capacity under a $300 million accordion credit facility, subject to borrowing base, leverage and other restrictions.

Borrowings under the enhancement maintain the current interest rate of LIBOR+3.25% with no floor and a maturity date to August 2018, plus a 12-month amortization period. The advance rate of 50% against eligible loans remains the same.

This is in addition to the company’s previous announcement on March 8, 2016 of adding AloStar Bank of Commerce to the Wells Fargo accordion credit facility by an additional $20 million commitment.

“We are excited to have EverBank join our facility and increase our capacity to $120 million,” said Mark R. Harris, chief financial officer of Hercules. “Expanding our debt capacity and enhancing our treasury capabilities, at a lower cost of debt, is very beneficial for Hercules shareholders as it potentially increases net investment income and earnings per share. We look forward to further business opportunities with our two new partner banks, AloStar and EverBank, as well as our long-time partner Wells Fargo.”

Hercules Capital is a specialty finance company focused on providing senior secured venture growth loans to high-growth, innovative venture capital-backed companies in a broadly diversified variety of technology, life sciences and sustainable and renewable technology industries.