Gibraltar Business Capital received an increase in its credit line with Wells Fargo for the second straight year.
In 2018, Wells Fargo raised Gibraltar’s facility from $75 million to $100 million. This new increase takes the line up to $125 million, giving the asset-based lender additional capacity to serve its market.
In addition to the larger credit line with Wells Fargo, Gibraltar recently added two new sales people to its team.
“At Gibraltar Business Capital, we’re in an exciting period of expansion,” said Gibraltar CEO Scott Winicour. “Growth for us depends on being able to provide more businesses with capital to solve short-term challenges or seize opportunities. This increase in our credit line will enable us to build new partnerships with companies and financial sponsors to provide them with effective financing solutions.”
“Gibraltar has a proven track record of providing stability for businesses in transition, enabling them to reach the next level,” said Dave Koshenina, head of Lender Finance for Wells Fargo. “We’re proud to work closely with Gibraltar, supporting their vision for growth.”