Iron Horse Credit, a non-bank, asset-based lender, has secured a $40 million senior credit line from Forbright Bank and MA Asset Management (formerly Blue Elephant Capital Management) with an additional $30 million accordion. The company also secured an additional $5 million of subordinate capital from PruVista Capital.
These new facilities will allow IHC to continue the expansion of its loan origination footprint and fuel growth initiatives. With the completion of these transactions, Iron Horse will continue to provide asset-based debt capital solutions to small-to-medium sized enterprises that regularly face capital constraints and cannot easily access traditional sources of financing through banks.
“We are pleased to have collaborated with the Forbright Bank, MA Asset Management and PruVista Capital teams to successfully establish this credit facility,” Bill DiPaula, CEO of Iron Horse Credit, said. “These relationships enhance our capacity to accomplish our strategic growth plans.”
