Context Business Lending (CBL), a family office-backed national asset-based lender, has grown its investing power by increasing its warehouse line by adding Texas Capital Bank as joint lead arranger to its warehouse facility led by CIBC Bank USA as agent. CBL has grown in its quest to disrupt asset-based lending, nearly quadrupling its portfolio in 2020. The enhanced credit facility will enable CBL to keep costs down and facilitate further portfolio growth.
“It was extremely important for us to find a leverage provider that could think outside the traditional ABL box and understand how we are working to improve the lending landscape. CIBC and Texas Capital Bank both took the time to understand our vision and partner with us to allow for needed flexibility as we continue to grow,” Meredith Carter, president and CEO of CBL, said.
“We are excited to welcome CBL to our growing list of specialty finance clients. Lender finance has been an increasingly important focus for us and CBL embodies the forward-thinking lenders we want to be aligned with,” Steven Katz, SVP of commercial lender finance at Texas Capital Bank, said.
“We are pleased to provide access to financing as CBL realizes its ambitions to serve its asset-based lending clients,” Jeff Michalczyk, managing director at CIBC US Commercial Banking, said.
In 2020, CBL hired many experienced new team members, was recognized by the ABFJournal as one of the Top 25 Most Innovative Companies in Commercial Finance. CEO Meredith Carter was recognized by SFNet as a 40 Under 40 winner.