Iron Horse Credit Secures a $40 Million Senior Credit Facility and $5MM of Subordinate Capital
Iron Horse Credit provides inventory, accounts receivable, and purchase order financing to small and medium-sized businesses across the United States and Canada.
JACKSONVILLE, FLORIDA, UNITED STATES, August 6, 2024 /EINPresswire.com/ -- Jacksonville, FL, August 6, 2024 – Iron Horse Credit (“Iron Horse”), a leading non-bank, asset-based lender, is pleased to announce it has secured a $40MM senior credit line from Forbright Bank and MA Asset Management (formerly Blue Elephant Capital Management) with an additional $30MM accordion. Iron Horse has also locked in an additional $5MM of Subordinate Capital from PruVista Capital. These new facilities will allow IHC to continue the expansion of its loan origination footprint and fuel growth initiatives. With the completion of these transactions, Iron Horse will continue to provide asset-based debt capital solutions to small and medium-sized enterprises that regularly face capital constraints and cannot easily access traditional sources of financing through banks.
“We are pleased to have collaborated with the Forbright Bank, MA Asset Management and PruVista Capital teams to successfully establish this credit facility,” said Bill DiPaula, CEO of Iron Horse Credit. “These relationships enhance our capacity to accomplish our strategic growth plans.”
The leadership team at Iron Horse has decades of experience in financial services and asset-based lending. Their tailored lending facilities and competitive rates have helped scores of businesses in the e-commerce, retail, and consumer goods industries grow and meet the changing demands of their customers and clients.
For more information about our products, please contact us at 904-703-3079 or info@ironhorsecredit.com.
About Iron Horse Credit
Founded in 2016 and headquartered in Jacksonville, FL, Iron Horse Credit provides inventory, accounts receivable, and purchase order financing to small and medium-sized businesses across the United States and Canada. Businesses that have benefited from Iron Horse Credit’s flexible and specialized financing solutions include a hydroponic growth system manufacturer, an agricultural equipment manufacturer, and a supply chain management vendor.
About Forbright Bank
Forbright Bank (www.forbrightbank.com), Member FDIC, Equal Housing Lender, is a full-service bank and lender taking action to decarbonize the economy. Headquartered in Chevy Chase, Maryland, Forbright is committed to accelerating the transition to a sustainable economy by financing the companies, investors, and innovators driving that change.
About MA Asset Management
MA Asset Management is a New York-based private credit asset manager established in 2013 providing capital solutions across a range of alternative credit.
MA Asset Management is part of MA Financial Group, an Australia-based, ASX-listed firm specializing in managing alternative assets, lending, corporate advisory, and equities. Launched in 2009 as a joint venture with NYSE-listed investment bank Moelis & Company, MA Financial has $6.4BN1 in assets under management, is responsible for $74.7BN1 in managed loans, and has advised on over $80BN1 in advisory and equity capital market transactions.
About PruVista Capital
PruVista Capital is an investment company focused on building specialty finance platforms through equity and debt capital investments with over $225 million of assets under management. PruVista is led by a tenured management team of former consumer banking executives and founding partners of a privately held, multi-billion-dollar specialty finance company. PruVista has built an exotic auto leasing platform (Luxury Lease Partners), a commercial lending platform (Iron Horse Credit), and an affordable modular housing & commercial building company (Custom Home Shop). For more information, please contact us at (904) 371-3800.
Notes:
1. All figures are as of March 31, 2024, from the ASX operating update announcement. The subsequent conversion from AUD to USD is based on the exchange rate as of June 28, 2024. For the full report, please refer to https://yourir.info/resources/3f404fb6a1cb6a88/announcements/maf.asx/2A1518947/MAF_Announcement_2A1518947.pdf.
Bill DiPaula
Iron Horse Credit
+1 904-703-3079
bill.dipaula@ironhorsecredit.com
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