Equipment finance company Targeted Lending closed a $50 million credit facility with Wells Fargo Capital Finance. The team at Targeted Lending been tailoring solutions for the equipment finance industry for more than 25 years.
Legacy Corporate Lending, an independent asset-based lending company, closed a $100 million senior credit facility with Wells Fargo Capital Finance. The facility will support Legacy Corporate Lending’s growth in serving the middle-market ABL space.
With nearly 30 years of experience in asset-based lending, Stewart Hayes has enjoyed a rich history of helping to build Wells Fargo’s lender finance unit and financing companies that have flourished in the industry. He shared his significant career experience and outlook on the industry with ABF Journal.
Alterna Capital Solutions added Bank of America to its senior lending syndicate and increased its line of credit by $65 million, with Bank of America supplying $50 million and Wells Fargo delivering an additional $15 million. Alterna’s line of credit now totals $205 million.
MidCap Business Credit increased its senior credit facility with Wells Fargo Capital Finance to $200 million. This upsize will enable MidCap to support the growth of its existing asset-based lending business and support the launch of its equipment finance vertical.
Siena Lending Group increased its senior credit facility with Wells Fargo Capital Finance to $575 million. This upsize will enable Siena to continue its growth following a historic year in which it closed more than $565 million in facilities across 20 relationships.
The Secured Finance Foundation announced its new board members and co-chairs for 2022 and noted the board members’ various areas of special attention, ranging from education, fundraising and community development to data and next generation initiatives.
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.
AP Equipment Financing has closed a $110 million line of credit with the Lender Finance division of Wells Fargo Commercial Capital.
Great Rock Capital closed a leverage facility with Wells Fargo Capital Finance.