IDB Bank closed up to a $100 million asset-based revolving credit facility for Dwight Funding, a New York-based lender to modern brands and platforms. IDB Bank was the sole lead arranger and administrative agent for the facility.
“We are very pleased for the tremendous opportunity to agent a credit facility for Dwight Funding, as they continue to distinguish themselves through their exceptional management team and a proven formula for success,” Lissa Baum, head of New York commercial banking at IDB Bank, said. “We are proud to expand our leadership role in the lender finance space with the closing of this new syndication.”
Ben Brachot, Dwight Funding’s co-founder, said this facility will support the continued growth of the company’s portfolio. The financing also will allow Dwight Funding to continue investing in its proprietary technology.
