Wells Fargo Capital Finance increased Alterna Capital Solutions’ asset-based credit facility by $30 million. The line increase brings the firm’s total credit facility to $110 million.
“Extreme stress on small business supply chains since early 2020 and the resulting working capital crunch prove out worst-case scenarios foreseen by our experience and expertise in alternative and specialty financing,” Stan Carpenter, founder and president of Alterna Capital Solutions, said. “To say that no one saw this coming is misleading. We have always partnered with small business owners who are experiencing their own working capital and lending ecosystem events caused by regulatory and covenant forces beyond their control and that of their bankers. Our ability to provide growth capital, combined with strategic financing advice, is supported by our lending relationship with Wells Fargo Commercial Capital’s lender finance team and the Wells Fargo Ft. Lauderdale, FL, commercial banking team.”
“The team at Alterna Capital Solutions are experts at providing growth capital to business owners to support their return to financial health,” Stewart Hayes, managing director at Wells Fargo Capital Finance, said. “We look forward to continuing our relationship as their business continues to grow.”
Alterna Capital Solutions is a specialty and alternative financing lender.
