nFusion Capital Finance, a commercial finance company to entrepreneurs, closed and funded a line of credit agented by Synovus Bank, through its specialty finance division, for $75 million. This new facility will allow nFusion Capital to continue its exponential growth.
TAB Bank and Zions Bank, nFusion’s previous senior lenders, joined Synovus as co-lenders in the new credit facility.
“TAB and Zions have supported us over the past few years, and it is a great relationship,” Jason Lippman, CEO of nFusion Capital, said. “This major credit expansion better positions us for future growth. We embarked on a rigorous selection process for a partner with scalable, flexible capital. Synovus is that perfect fit. They bring big bank capabilities and an entrepreneurial spirit that dovetails with ours.”
With Synovus Bank as the new senior lender, administrative agent and lead arranger, nFusion Capital will be able to support its current portfolio funding needs and will be further enabled to scale and achieve its next target of over $100 million. The financial commitments from its consortium of lenders will allow the company to continue its growth strategy, investing in its core factoring and asset-based lending businesses as it supports entrepreneurs across the United States.
“We are grateful for the trust and commitment our lenders have given nFusion Capital, and we will use the capital to build an even stronger business as we move forward,” Lippman said.
“We are very excited to be working with Jason and the nFusion Capital team and are thrilled to provide the company with access to flexible capital to support its growth and strategic initiatives,” Steven Safirstein, director of asset-based lending, specialty finance division for Synovus, said.
“This new loan facility underscores nFusion’s exceptional growth and strategic vision,” Curtis Sutherland, head of sales and business development at TAB Bank, said. “Partnering with Synovus and Zions Bank enables us to deliver more comprehensive financing solutions to meet nFusion’s expanding needs. We are proud to continue to support their journey and be a part of their future success. This collaboration highlights our commitment to fostering dynamic partnerships that drive business growth and innovation. We’re thrilled to be part of nFusion’s story as they reach new milestones.”
