Wingspire Capital provided a $30 million revolving credit facility to a consumer rent-to-own financing business. The borrower provides financing for outdoor structures such as sheds, carports and other storage structures.
The sponsor-backed borrower is using the proceeds to refinance existing debt on more attractive terms, creating additional liquidity to support portfolio growth. The financing is secured by a portfolio of consumer receivables and thousands of storage structures sold through dealers who white-label the borrower’s financing services.
“We enjoyed working with the borrower and sponsor on a creative structure with better terms and greater liquidity, which allows them to focus on growing their portfolio,” Ryan Jones, managing director at Wingspire Capital, said.
