Loeb Term Solutions closed a $25 million senior secured revolving line of credit with Pinnacle Financial Partners subsidiary, Pinnacle Bank (d/b/a Synovus Bank). The facility expands Loeb’s capacity to fund equipment term loans for manufacturers and businesses that do not meet traditional bank credit standards.
This partnership pairs Loeb’s experience in industrial asset valuation and lending with the backing of a large financial institution. With this added capital, Loeb can continue to provide flexible financing at greater scale.
“This is a milestone moment for Loeb. A $25 million line from a bank as well regarded as Pinnacle fuels our next stage of growth and lets us do more of what we do best: getting our clients the working capital they need without the hurdles traditional lending can put in their way,” Eric Schwartz, president of Loeb, said.
“Loeb has built a differentiated, disciplined approach to equipment and machinery finance, appraisal and liquidation for more than 140 years,” Steven Safirstein, managing director, head of asset-based lending at Pinnacle, said. “This facility reflects our confidence in Loeb’s platform and management team and our commitment to supporting well-run specialty finance companies that serve the middle market. We look forward to supporting Loeb as it continues to grow.”
