Standard Premium Finance, a specialty finance company, closed a revolving credit facility providing up to $115 million in borrowing capacity, incorporating an initial commitment of $75 million and an additional $40 million accordion feature. The syndication, led by First Horizon Bank, includes participation from Flagstar Bank and Cadence Bank.
“We are proud to expand our relationship with Standard Premium and welcome Flagstar and Cadence as participants in this agreement,” Jack Perkins, vice president at First Horizon Bank, said.
The new line of credit more than doubles the company’s previous $50 million facility.
“This syndicated credit facility positions Standard Premium for the next phase of growth as we invest in innovation and deliver value for our customers and stakeholders,” William Koppelmann, CEO of Standard Premium, said. “We are grateful to First Horizon, Flagstar and Cadence for establishing this credit facility, and we look forward to building on our relationship with them.”
