SAN DIEGO–(BUSINESS WIRE)–National Funding, Inc., one of America’s largest specialty finance companies serving small and medium-sized businesses, announced the recent renewal and expansion of a senior secured warehouse line of credit of $100.0 million. The increase includes an accordion to be extended to $125.0 million, which was provided by a major US-based commercial bank. The facility will continue to be used by the Company to fund new creations and support the growth of the additional platform.
This increase follows a $55 million corporate note that closed in October 2021. With this additional funding, National Funding is well positioned to continue supporting small businesses as the economy continues to recover. .
To date, National Funding has provided more than $4.5 billion in working capital and equipment leasing to more than 80,000 small and medium businesses nationwide.
“As the economy continues to rebound from the pandemic, the increase in our bank credit facility ideally positions National Funding to provide more flexible capital solutions to our small and medium business clientele,” said Dave Gilbert, CEO of the society.
National Funding President Joe Gaudio added, “Due to better-than-expected lending growth, the timing of this expansion was ahead of our original plan. Additionally, the continued support of our banking partners enables National Funding to live out its mission to transform the way small businesses access the capital they need to grow.
For more information on national funding, go to www.nationalfunding.com.
About National Funding, Inc.
Founded in 1999, National Funding is a leading US specialty finance company serving small and medium-sized businesses. The company’s foundation serves American small business owners by providing financing solutions to meet their needs to reinvest in their day-to-day operations and help them grow. Additionally, National Funding’s Digital Funding Process has enhanced its digital capabilities by offering a quick and easy online application. For more information on National Funding, visit https://www.nationalfunding.com.