Citizens served as sole lead arranger on a $70 million asset-based revolving credit facility for Chicago-based Stonegate Capital Holdings to support its acquisition by SG Credit Partners.
SG Credit Partners acquired Stonegate Capital Holdings and its entry into asset-based lending with a focus on consumer and recurring revenue verticals. Stonegate will operate independently as a new division of SG Credit Partners and continue to build upon its position as a non-bank direct lender.
In the face of continuing bank regulation, alternative lending companies are launching to fill in the gaps. ABF Journal contributor Hugh Larratt-Smith examines the types of loans these lenders are providing and shows how ABL lenders can benefit by teaming up with these new players.