Daily News: May 23, 2013

First Tennessee Bank Expands Gateway Commercial Facility

Gateway Commercial Finance announced that it completed an amendment to its senior credit facility with First Tennessee Bank. The increased borrowing capacity coupled with an aggressive cost of funds will allow Gateway to offer invoice factoring facilities to a wider spectrum of businesses at a lower cost.

“The increase in our borrowing capacity is a direct result of the success our existing clients have experienced over the last 12 months,” said Marc J. Marin, managing director. “The amended credit facility will support the growth of our existing clients while creating additional opportunities for our new business initiatives. We are particularly pleased to renew with First Tennessee Bank given their support of invoice factoring companies and our excellent working relationship.”

Gateway Commercial Finance provides a variety of funding and factoring options to small and medium-sized businesses.