36th Street Capital Partners, an independent provider of alternative funding solutions for the equipment financing industry, expanded its three-year, senior secured revolving credit facility to $125 million, an increase of $25 million.
Bridgeport, CT based People’s United Bank joined the existing syndicate for the amount of the increase, which will be used to fund portfolio growth.
“We are excited to partner with the 36th Street Capital team and look forward to fostering this relationship to support their long-term strategy and growth objectives,” said Kate Lepak, head of Asset-Based Lending, People’s United Bank.
“We are pleased to continue the expansion of our credit facility with the addition of People’s United Bank,” said Kiran Kapur, 36th Street’s co-founder and CEO. “As we grow, finding bank partners like People’s United who understand the attributes unique to our business and that of our clients, is an important part of our ability to deliver creative solutions to our origination partners.”
