nFusion Capital Finance entered into a multi-year senior bank facility with TAB Bank and participating banks Zions Bank and Pathward. The line more than doubles the size of the company’s existing revolving credit facility and supports the company’s long-term expansion strategy.
The financial commitments will allow nFusion Capital to continue its multi-prong growth strategy, investing in its core factoring and asset based lending businesses and exploring disciplined accretive acquisitions. With this facility and the support of its consortium of bank lenders, the company has a clear path to grow its portfolio size to well more than $100 million before the end of 2023.
“We have been the primary capital partner provider for nFusion Capital for over two years, and CEO Jason Lippman has grown the company conservatively during our relationship,” Rick Bozzelli, president and CEO of TAB Bank, said. “As such, we have been able to enhance our credit facility accordingly. In anticipation of further credit needs to support the company’s strategy, we have again increased our facility by over 100% and look forward to furthering our great relationship with Jason and the nFusion Capital team.”
“To double our credit line in this market is a true testament to TAB and our bank participants’ faith in our team and the historical performance we have consistently generated,” Jason Lippman, CEO of nFusion Capital Finance, said. “Current challenges in the general banking environment are a double-edged sword. On the one hand, it creates many opportunities for us to grow as banks have become more conservative, but on the other hand, it is more difficult for commercial finance companies to grow and expand their senior facilities in this environment. We are thrilled to continue our lending relationship with TAB Bank.”
