Verdant Commercial Capital’s increased its primary warehouse line of credit, led by Wells Fargo Bank, to $225 million with the addition of Regions Bank as a participant in the lending group. The line was extended for two years. Wells Fargo is the administrative agent for this facility.
“The extension and expansion of our main warehouse line provides Verdant with greater stability to support growth,” Robert Moskovitz, CFO at Verdant Commercial Capital, said. “Verdant’s first term securitization coupled with expanding our warehouse capacity improves our funding efficiency, allowing us to better meet our customer demands.”
“We’re very appreciative of the ongoing support and confidence our banks have shown towards the Verdant platform,” Mike Rooney, CEO of Verdant Commercial Capital, said. “As we move into 2023, we’re optimistic of continued record growth in our originations. This line expansion is coming at the right time.”
