WebBank appointed Eraj Asadi senior vice president and head of asset finance. In his new role, Asadi will be responsible for leading the asset finance team in the expansion, management and strategy of the bank’s asset finance platform.
WebBank appointed Kelsey Hardy senior vice president of business development. In her new role, Hardy will be responsible for leading WebBank’s business development team in sourcing and structuring new strategic partner programs.
Oportun, an artificial intelligence-driven financial technology company, closed a $150 million credit facility secured by credit card receivables. WebBank is the lender under the new facility.
WebBank provided a new senior secured, asset-backed revolving credit facility to an affiliate of Libertas Funding. WebBank is the sole arranger and lender under the facility.
WebBank partnered with Synovus Bank’s specialty finance division to provide an additional commitment for an asset-based revolving credit facility for AB Private Credit Investors. The additional commitment upsized the original facility from $100 million to $150 million.
Stratos Technologies secured leverage through a first-out participation structure with WebBank in an asset-based revolving credit facility to one of its financial technology portfolio clients.