Crystal Financial completed a $45 million senior credit facility for CARite Holdings, a seller and leaser of pre-owned vehicles. Proceeds will be used to refinance existing debt and to fund lease portfolio growth.
“At this important juncture in our company’s history, it was critical that our first institutional debt capital partner understand our business and our goals. Crystal’s extensive underwriting expertise in the specialty finance sector in addition to their creative structuring approach set them apart as we considered various options,” said John Neary, CEO of CARite.
Steven A. Migliero, Jr., co-CEO of Crystal Financial, said, “John and his team have done a tremendous job building an organization that delivers a very strong consumer value proposition. We are excited to help facilitate their future growth and continued success.”