Alterna Capital Solutions added Bank of America to its senior lending syndicate, which includes Truist Financial and is led by Wells Fargo Capital Finance, and increased its line of credit by $65 million, with Bank of America supplying $50 million and Wells Fargo delivering an additional $15 million. Alterna’s line of credit now totals $205 million.
“I’m extremely proud of the team and the results we’ve achieved in less than five years,” Stan Carpenter, president and founder of Alterna Capital Solutions, said. “As we grow and our client base widens and deepens, we’re seeing an increase in the size of the deals and duration of engagement. Thanks in part to support from Wells Fargo, Truist and Bank of America, we’re positioned strongly for continued growth as we serve small businesses seeking a financing partner capable of long-term guidance and funding complementary to their established bank relationships.”
“We are pleased to further expand our relationship with the team at Alterna Capital Solutions,” Stewart Hayes, managing director at Wells Fargo Capital Finance, said. “ACS’s mission to support the needs of the small business sector is an important one, and we look forward to continuing to support their growth.”