Second Avenue Capital Partners, a provider of asset-based lending solutions, expanded its existing credit facility with Huntington Business Credit (HBC). The facility was upsized by $235 million, bringing the total to $700 million, to support the firm’s ongoing growth trajectory. The syndicated transaction was oversubscribed.
The expanded facility includes a multi-currency sublimit, enabling SACP to fund transactions in both U.S. and Canadian dollars (CAD).
Huntington Business Credit acted as administrative agent, bookrunner, and joint lead arranger. Bank OZK, Bank of Montreal, M&T Bank, and Wells Fargo Bank joined HBC as joint lead arrangers.
In addition to the HBC facility, Pathlight Capital, a private credit investment manager, served as the administrative agent on a senior secured term loan facility for SACP. Proceeds from the term loan will be used to support working capital needs for growth purposes.
“SACP’s consistent growth over the past seven years reflects the market’s strong appetite for our creative, partnership-driven capital solutions,” Aaron Miller, president of SB360 Holdings, said. “This upsized facility with HBC, as well as the Pathlight term loan, marks an important milestone in our continued expansion and positions us to meet rising demand with even greater flexibility and scale. We’re grateful for the continued support of Huntington Business Credit — a consistent partner to our broader organization — and our other bank partners. Their confidence empowers us to thoughtfully grow our platform and extend our impact as we help middle-market businesses navigate complexity and unlock opportunity.”
Mark Gallivan, founding member of SACP and head of investments and operations, said, “This expanded facility reflects the confidence our lending partners have in SACP and validates the growth we’ve achieved across our platform. We are proud to deepen our relationship with Huntington and welcome the continued support of a strong syndicate. We’re also very pleased to expand our partnership with Pathlight. The increased capacity will enable us to further execute on our strategy, broaden our reach, and continue delivering value to our borrowers and stakeholders.”
Lance Rapp, senior vice president, ABL managing director of portfolio at Huntington Business Credit, said, “We are pleased to lead and structure this transaction in support of SACP’s strategic growth. The oversubscribed syndication speaks to the market’s recognition of SACP’s strong leadership and disciplined approach to credit. We look forward to continuing our relationship as they scale their platform.”
