eCapital closed a $245 million increase to the syndicated bank line supporting its asset-based lending group. The upsize brings the total facility size to $815 million.
The latest increase follows a $110 million line upsizing last August. Wells Fargo acted as the administrative agent for the lenders and, with Regions Bank and BMO, acted as joint lead arrangers and joint book runners for the facility.
With this latest increase, eCapital’s total bank facility commitments across its three syndicated bank lines now exceeds $1.6 billion. This enhanced capacity allows eCapital to continue offering customized working capital solutions to more SMBs.
“Our pipeline of deals remains strong, reflecting current market and bank conditions. We are proactively bolstering available liquidity to capitalize on our position and the opportunity,” Marius Silvasan, CEO of eCapital, said. “We successfully upsized our bank lines and mezzanine capital availability by more than $400 million during 2023, demonstrating our lenders continued support and reflecting the growth experienced in our portfolio. We remain ready to empower SMBs with unmatched access to capital, enabling them to grow and thrive in any market.”
Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!