Dwight Funding completed three asset-based loans in its consumer products portfolio, including a $5 million asset-based loan for an OTC medicine and supplements brand.
IDB Bank closed up to a $100 million asset-based revolving credit facility for Dwight Funding, a New York-based lender to modern brands and platforms. IDB Bank was the sole lead arranger and administrative agent for the facility.
Dwight Funding named Jessica Bates as managing director and head of business development. Bates, who has been with the company since 2016, is now responsible for driving product growth, market expansion and leading the sales team across products and industries.
Duy Nguyen joined Dwight Funding as director of business development. Nguyen has more than five years of experience in SMB lending, most recently serving in business development and portfolio management roles at Wells Fargo.
The transition to a more e-commerce-focused economy has been underway for more than two decades. At this point, it is no longer a trend but a permanent (and dominant) piece of the consumer spending landscape. Such a reliance on e-commerce will continue to call for a reimagining of how asset-based lenders provide capital to businesses that sell their goods virtually. In a Q&A for ABF Journal, Derrick Wong of Pacific Premier Bank spoke with Jessica Bates of Dwight Funding about the ins and outs of asset-based lending to e-commerce brands.
Dwight Funding closed a combined $4 million in funding to two direct-to-consumer companies, including a men’s personal care company and a bicycle company.
Dwight Funding provided a working capital line of credit to Credo. The facility will be used to finance inventory as the company adds additional store locations and expands its e-commerce presence.
Dwight Funding provided a $5 million credit facility to new client, I and Love and You, a pet food company based in Boulder, CO.