Alterna Capital Solutions, a specialty and alternative financing lender to small businesses experiencing growth, completed a $50 million asset-based credit facility with Wells Fargo Commercial Capital.
The line increase, with an accordion to $70 million, will be used by Alterna Capital Solutions to meet the growing demand from small-business owners seeking a financing partner capable of long-term guidance and funding complementary to established bank relationships.
“We’re extremely encouraged by our performance during Alterna’s first 12 months, and I’m proud of our team’s nimbleness and commitment to business owners seeking a creative financial partner,” said Stan Carpenter, founder and President of Alterna Capital Solutions. “Without a doubt, our efforts are strengthened by our relationship with the Wells Fargo Commercial Capital’s Lender Finance team and the Wells Fargo Ft. Lauderdale, FL, Commercial Banking team. This line increase is indicative of our model’s effectiveness in providing small-business owners access to working capital to fund growth, as well as critical guidance in the moment and down the road.”_x000D_
Founded in 2018 and headquartered in Winter Park, FL, Alterna Capital Solutions provides financing for up to $10 million in growth capital.
