Business Capital structured and secured $10 million of mezzanine financing for the largest independent fabricator and installer of steel bar products and post-tension cables in California and Nevada.
CIT named Mike Jones president of Business Capital, replacing Steve Solk who will focus on Consumer Banking. Jeff Lytle was named president of Rail, replacing George Cashman who will retire.
Business Capital provided $4 million in financing to support Asteria Education’s acquisition of test-prep publisher ECS Learning Systems.
Business Capital structured and secured an asset-based credit facility for Rancho Harvest, a labor contracting provider for farmers, food shippers and processors.
Siena Lending Group completed a $3.5 million revolving credit facility for AlterG to partially refinance the company’s existing senior debt and support their working capital needs.
Business Capital structured and secured a $32 million term loan for a California rancher who sells and conveys water to farming operations and water districts.