Credibly, a data science-driven fintech lending platform, refinanced a maturing $10 million corporate note into a new five-year term. The note received a one notch rating upgrade from Egan-Jones to “BBB”.
Brean Capital served as the company’s exclusive financial advisor and sole placement agent in connection with the transaction.
Founded in 2010, Credibly has provided more than $1.5 billion in capital to SMBs, while maintaining a strong emphasis on risk management and a culture of compliance.
“This rated issuance improves Credibly’s cost of capital and strengthens its financial position as it continues profitable growth, while also demonstrating the company’s ability to manage risk for stable and consistent results when financing businesses not well-served by banks,” Michael Seneski, CFO of Credibly, said.
