Garrington Capital, a provider of capital solutions to middle-market companies in the United States and Canada, closed a working capital revolver of up to $20 million to a California-based vehicle finance company. The proceeds of the facility will be used to refinance existing debt and to provide capital to grow the business.
Garrington’s lender finance facilities provide investors with a diversified portfolio of loans with conservative loan-to-value metrics. Its dedicated team is focused on the financial services industry, having originated, underwritten and managed more than 50 loans to both commercial and consumer lenders, totaling over $1 billion in transactions. Garrington focuses on mid-sized U.S. and Canadian finance companies with portfolios between $10 million and $100 million, needing access to more flexible working capital financing than banks will provide.
