Channel closed a new revolving credit facility with CIBC Bank USA, bringing CIBC’s total committed financing to Channel to $135 million. The new facility supports origination of equipment finance leases and loans, complementing an existing CIBC facility dedicated to Channel’s working capital products. The expanded commitment builds on a longstanding relationship between two organizations and supports Channel’s continued equipment financing activities.
“CIBC has been an important partner to Channel for many years and has developed a deep understanding of our business, our people, and how we manage risk,” Robert Moskovitz, chief financial officer at Channel, said. “The most valuable capital relationships are built on that kind of knowledge. This expanded commitment gives our equipment finance platform the flexibility to scale, and we value our continued partnership with CIBC.”
Jeff Michalczyk, regional group head at CIBC Bank USA, added, “Access to flexible capital is essential for equipment finance companies as they navigate evolving business needs and opportunities. At CIBC, we work closely with our clients to understand their financing needs and structure solutions that support their long-term objectives.”
This transaction furthers Channel’s broader strategy to diversify its funding platform and support growth across both business lines that enables the organization to consistently deliver for its partners and their customers.
