Daily News: August 15, 2016

Investors Bank ABL Unit Arranges $5MM Revolver for Plus Funding

Investors Bank’s Asset-Based Lending (ABL) group recently arranged a $5 million revolving line of credit for the Plus Funding Group. White Plains, NY-based Plus Funding Group, which serves small to medium-sized firms by providing financing solutions, will invest a portion of the revolver in growing the business and meeting its ongoing capital needs.

“We have built a solid business relationship with Plus Funding Group’s executives, and they are experienced, capable lenders,” said Joseph DeVito, SVP and director of business development for Investors Bank’s ABL Group. “Also, the company is very well managed, and the organization has developed a solid list of clients.”

Investors Bank’s ABL lenders leveraged Plus Funding Group’s assets to maximize the revolving facility that was made available to the firm. Plus Funding Group assists companies in a range of industry sectors including media, IT, manufacturing, energy and apparel.