(MENAFN- PR Newswire) Leading small business finance company strengthens balance sheet and demonstrates continued growth
SAN DIEGO, Oct. 26, 2022 /PRNewswire/ --
, a leading small business finance company, today announced it closed on certain amendments to its existing accounts receivable securitization facility, notably increasing the committed amount from $75 million to $125 million.
'Reliant Funding has always led small business owners - America's backbone - to the road of success by providing the ability to achieve their greatest growth,' said Chief Executive Officer of Reliant Funding, Steve Kietz. 'We are very pleased with the terms of the facility as it provides us with greater flexibility to continue our mission and grow our portfolio.'
Credit funds managed by , a leading global alternative investment manager, provided the facility with Ares Agent Services, L.P., acting as the administrative agent and collateral agent. , a full-service investment bank and broker-dealer specializing in the financial services sector, served as Reliant Funding's exclusive financial advisor for the transaction.
The facility, which has a 4-year revolving period (with approximately 2.5 years remaining) and is expandable subject to certain conditions, provides increased availability and has a committed term of five years (with approximately 3.5 years remaining).
Since 2008, Reliant Funding has funded over $3 billion to 30,000 small businesses nationwide. For more information on Reliant Funding, .
Reliant Funding provides customized, short-term funding to small and mid-sized businesses nationwide. Headquartered in San Diego with an office in New York, Reliant Funding has surpassed $3 billion in total funding and has been recognized by Inc. Magazine as part of the 5000 fastest growing privately held companies in America. For more information, visit .
Contact: Kate Kelly, , (858) 848-9706
SOURCE Reliant Funding
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