Daily News: June 27, 2014

AloStar Commits $20MM to Lenders Funding

AloStar Business Credit announced it provided a $20 million line of credit to Lenders Funding, a private funding source for factors and ABLs with offices in California, Virginia and New Jersey. Additionally, the company makes direct loans on other classes of collateral that are not traditionally suited for factoring or asset-based lending.

“Lenders Funding supports the needs of small to middle market factoring and asset-based lending companies that need to participate loans due to concentration issues or lending limits,” said Andy Mcghee, president AloStar Business Credit. “We are happy that we can support their efforts in the industry.”

Robert Zadek said, “After interviewing fourteen banks over a five-year period, we have finally found one who truly understands our business. Alostar’s credit and corporate culture is just what we have been seeking. They are a pleasure to do business with, and will enable us to realize our full earnings potential. Lenders Funding has finally found a home.”