36th Street Increases Facility to $170MM with Wells Fargo Participation
MAR 9, 2020 - 7:00 am
36th Street Capital increased its expandable senior secured revolving credit facility to $170 million in addition to amending terms to a new five-year facility.
Wells Fargo has joined the syndicate with an additional $35 million participation. The credit facility includes four lenders and is led by Capital One as agent.
“Wells Fargo is pleased to work with 36th Street and provide additional capital to help support their continued growth,” said Stewart Hayes, managing director in the Lender Finance division of Wells Fargo Commercial Capital.
Founded in 2015, 36th Street Capital is an independent finance company specialized in structuring customized equipment financing solutions for middle market companies seeking alternative funding sources.
“We are very pleased to have the Wells Fargo Lender Finance team join our credit facility,” said Kiran Kapur, 36th Street’s co-founder and CEO. “Our lenders continue to be important partners as we strive to bring creative financing solutions to the market. We sincerely appreciate their confidence in our business and the increasing support as we grow.”
Participating in the circular economy is clearly a good move for the planet. Plus, according to research from Accenture, it could create $4.5 trillion in economic growth by 2030 and up to $25 trillion by 2050. Equipment finance companies are... read more
AI (Artificial Intelligence): The theory and development of computer systems able to perform tasks that normally require human intelligence, such as visual perception, speech recognition, decision-making and translation between languages. Data-driven AI will accelerate the speed of online lending. Lenders... read more