Bolton Capital, a niche specialty finance company providing working capital solutions to the bulk hauling and transportation industry, closed a new $20 million revolving line of credit led by Texas Capital. This financing will augment Bolton’s equity base to support working capital origination volume in the large U.S. construction transportation market. With the new credit facility, Bolton Capital is positioned to execute immediate market opportunities by expediting funding of their haulers’ receivables and partnering in their long-term growth.
“We are very excited about our new relationship with Texas Capital. This new facility will allow Bolton to continue meeting our clients’ need for capital to compete in the large construction transportation market by accelerating cash flow by up to 60 to 90 days. Our proprietary underwriting technology, decades of industry knowledge, and funding capabilities bring unmatched growth opportunities to underserved dump truck owners and operators,” Douglas Lindsay, managing partner of Bolton Capital, said. “We are excited about the value we will deliver to both our clients and general contractors on both government and private projects.”
Steven Katz, managing director, commercial lender finance at Texas Capital, said, “We are pleased to secure this initial debt capital for Bolton Capital to fund its innovative business model in the bulk hauling space. Through customized financial, treasury and advisory solutions, Texas Capital is proud to deliver substantial value to our clients at every stage of their business lifecycles.”
