Daily News: November 3, 2016

Coral Capital Secures $25MM Line of Credit from WFCF


Coral Capital Solutions, a provider of financing solutions for North American medium-sized enterprises, secured a $25 million senior credit facility from Wells Fargo Capital Finance.

The line of credit accelerates Coral Capital Solutions’ ability to grow as a product focused financing company and advances its ability to extend funding to its expanding client base.

“We are very pleased to support Coral Capital Solutions’ continued business growth with the extension of this line of credit,” said Andrea Petro, executive vice president and division manager of the Lender Finance division of Wells Fargo Capital Finance. “The company has an impressive business model, dedicated executive team and a longtime successful track record that underscores the confidence we have in Coral Capital Solutions’ ability to meet increased demand and capture new business opportunities.”

“As Coral Capital continues to grow and attract larger clients, especially in the telecommunications and digital publishing markets, we were looking for a trusted partner that understood our business model and would help us amplify our lending capabilities,” said Einat Steklov, president of Coral Capital Solutions. “The Lender Finance Division team at Wells Fargo demonstrated a clear understanding of our business and worked with us to design a flexible program that allows us to capitalize on opportunities.”

Coral Capital factoring transactions range from $500,000 to $10 million and support businesses at critical times of growth by financing their purchase orders and accounts receivables. Coral Capital also assists business owners and senior management teams through turnaround transitions, helping to revitalize their business with consistent working capital at times when it is needed the most.