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.
Renewable Energy Group extended and increased its line of credit with Wells Fargo Capital Finance, Fifth Third Bank and Bank of America to a maximum of $250 million. The facility was also extended through five years through September 2026.
Drips, concurrently with a previously announced growth investment, established a credit facility with Wells Fargo Capital Finance’s technology finance group.
Siena Lending Group, an independent asset-based lending company, increased its senior credit facility with Wells Fargo Capital Finance to $400 million.
Wells Fargo Capital Finance Delivers $208.9MM Asset-Based Credit Facility to City Electrical Factors
Acting as the sole lender, Wells Fargo Capital Finance provided a five-year £150 million ($208.9 million) asset-based credit facility to City Electrical Factors, an electrical wholesale network based in the United Kingdom. The facility will provide liquidity for the future growth and working capital requirements of City Electrical Factors.
Accel-KKR Credit Partners, Centre Lane Partners and Wells Fargo Capital Finance led a $67 million financing round for Salary.com, a compensation solutions provider. Prior investors H.I.G. Capital and Salary.com’s management also participated.
Old Compass Financial, a new field examination firm, commenced operations from its headquarters in Charleston, SC. The firm is led by Joel A. Good, an asset-based lending industry veteran with more than 24 years of field examination and audit experience.
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.
The Secured Finance Network’s 76th Annual Convention, “This Way Forward,” will take place from Nov. 17 to 19 and will cover financial, economic and political disruptions that banks and finance companies face in the midst of a pandemic and the aftermath of the U.S. election.
Alterna Capital Solutions completed an additional $15 million private equity investment from Alterna Equity Partners, coinciding with a line increase of $30 million from Texas Capital Bank to complement a $50 million asset-based credit facility led by Wells Fargo Capital Finance.