TriState Capital Bank introduced a national treasury management offering tailored to the needs of private credit and asset-based lending (ABL) lenders, as well as specialty finance companies. The solution addresses a common challenge in asset-based finance: delays in funding borrowers when existing treasury arrangements must be restructured to meet the requirements of a new credit agreement.
The offering was developed in response to feedback from private credit and ABL lenders and their borrowers. New credit agreements can require borrowers to repaper existing treasury management arrangements, establish new account controls and provide lenders with greater control over funds and incoming receivables. Facilitating the timely execution of deposit account control agreements (DACAs) is a key part of this process. Coordinating these changes and completing the necessary documentation can delay funding and affect a lender’s ability to close a transaction on schedule.
“We heard from lenders that funding can be delayed while their borrowers’ treasury arrangements are updated to meet the requirements of a new credit agreement,” Dustin Goldstein, executive vice president, treasury management at TriState Capital Bank, said. “These are often time-sensitive transactions, and coordinating the necessary changes and documentation can take time. We saw an opportunity to work directly with both parties to simplify treasury management implementation and help keep the financing process moving on schedule.”
The offering includes lockbox services, balance reporting, merchant processing, cash processing, ACH and wire services, remote deposit, information reporting and supply chain financing. Borrowers can also benefit from an enhanced service model through a single point of contact for treasury management services.
