Alliance Funding Group upsized its corporate notes to $39 million. The new issuance was assigned a BBB rating by a nationally recognized statistical ratings organization. Alliance Funding Group will use proceeds from this transaction for working capital purposes and to finance growth, including potential future acquisition opportunities.
Alliance Funding Group is a vendor-direct specialty finance company that provides small-ticket and middle-market equipment leasing, financing and working capital solutions to a range of businesses throughout the U.S. Since inception, the company has funded more than $2 billion to more than 25,000 businesses.
“We are grateful for the continued support from a core base of institutional investors that have demonstrated strong conviction in our growing platform,” Brij Patel, founder and president of Alliance Funding Group, said. “As competitors tighten their credit boxes, we recognize an outstanding opportunity to pick up market share, both organically and through potential synergistic acquisitions.”
“Following our successful securitization placed earlier in the year, this recent financing helps further fortify our balance sheet,” Brent Hall, senior vice president of capital markets of Alliance Funding Group, said. “We are experiencing significant demand from our customers and this additional capital will enable us to continue to meet their financial needs in a volatile economic environment.”
Brean Capital served as Alliance Funding Group’s exclusive financial advisor and sole placement agent in connection with the transaction.
