CIT Northbridge Credit, as advised by CIT Asset Management, served as sole lead arranger on a $45 million senior secured credit facility for MVP Payroll Financing.
Based in Chandler, AZ, MVP Payroll Financing provides business clients with staffing and administrative solutions covering human resources, payroll and workers’ compensation.
“The continuing economic rebound is leading to growing demand for third-party staffing solutions and associated managed services,” Alex Campos of MVP Payroll Financing, said. “We appreciated the expertise of the CIT Northbridge team in arranging this financing to support our operations and empower us to serve our customers.”
“We worked closely with the company’s leadership to understand their needs and develop a financing package that advances their business strategy,” Neal Legan, executive officer at CIT Northbridge Credit, said.