Bryant Park Capital announced that Golden Pear Funding recently closed a new $60 million junior secured credit facility with a leading lender to the specialty finance sector. Bryant Park Capital said itacted as the exclusive financial advisor to Golden Pear.
Founded in 2008, Golden Pear has quickly developed into the top pre-settlement funding company in the U.S., funding over $230 million in legal advances nationwide. The senior and junior credit facilities combined provide the company with over $200 million in funding capacity.
This financing, the company’s first institutional subordinated facility, was used to replace notes from a number of high net worth investors as well as an interim credit facility and to provide additional working capital.
“With the addition of our new junior credit facility coupled with our recent senior line which was closed two months ago, our company is positioned perfectly to expand its footprint throughout the United States. We are proud to have partnered with two top-tier lenders who understand our business and are willing to grow with our company. We could not have accomplished any of this without the stewardship and deep banking expertise of Bryant Park Capital who worked tirelessly with us to restructure and significantly enhance our capital structure,” said Rich Palma, COO of Golden Pear Funding.
Golden Pear Funding is an originator of pre-settlement advances in the United States. Golden Pear provides non-recourse advances against potential settlements of legal claims.