Excel, a provider of integrated financial and transaction processing services, secured a new $25 million term loan facility through Great American Capital Partners.

The credit facility consists of an initial term loan of $13.5 million, with availability to borrow an additional $11.5 million during the first year of the three-year term. Proceeds from the initial loan amount were used to repay all of the company’s existing secured debt, including approximately $8 million incurred in connection with the purchase of the U.S. assets of Calpian in November 2015, as well as for working capital and general corporate purposes.

“After the Calpian acquisition in late 2015 and with the profitable restructuring of our Securus subsidiary earlier this year, Excel now enters a fresh stage of growth fueled by the support of our new financing relationship with Great American. This capital will enable us to move quickly on future acquisition opportunities, allowing us to successfully execute on our strategy of being a significant merchant acquirer in the U.S. market,” said T. A. “Kip” Hyde, Jr., Excel CEO. “Just as importantly for our stockholders, this $25 million facility provided us with access to capital without equity dilution.”

Great American Capital Partners is a wholly owned subsidiary of B. Riley Financial.