Mountain Ridge Capital (MRC) and Alpine Ridge Funding (ARF), both independent asset-based lending and factoring companies backed by Arena Investors, closed a $110 million senior credit facility from Wells Fargo Capital Finance. The facility will support MRC’s and ARF’s continued growth in serving the credit needs of middle-market companies across North America.
“Wells Fargo is pleased to support MRC and ARF with additional financial flexibility to advance their growth strategy,” Stewart Hayes, managing director at Wells Fargo Capital Finance, said. “We look forward to building a long-term relationship with MRC and ARF teams as they continue to scale their capabilities.”
“We are excited to partner with Wells Fargo, and combined with our existing facility we have with Encina Lender Finance, the addition of this facility allows us over $200 million of lender finance commitments which provide substantial incremental funding capacity as MRC and ARF continue to expand and service our customers,” Craig Winslow, CEO of MRC, said.
“Arena welcomes MRC’s relationship with Wells Fargo, and we remain supportive of MRC’s efforts to provide competitive and flexible financing solutions for small and medium-sized enterprises across North America,” Victor Dupont, managing director at Arena Investors and a member of MRC’s board of managers, said.
