TimePayment Announces New $375Million Revolving Credit Facility
Summary
TimePayment, an award-winning FinTech company and market leader in sales financing for specialty equipment sellers, has announced the closing of a new $375 million revolving credit facility, including a $50 million accordion. BMO Harris Bank serves as the Lead Agent for a bank syndicate that includes eight commercial banks.Latest Fintech News: Bank of America Announces Small Business Down Payment Grant Program to Drive Women and Minority Business GrowthThis new facility is an important part of our overall, long term capital markets strategy. The expansion and extension of our primary facility was a priority as we continue to realize record originations and earnings growth. Having the support of an outstanding group of banking partners, many of which have worked with us for more than a decade, is something we greatly appreciate.Latest Fintech News: Moove Signs MoU with MUFG and Suzuki to Promote Financial Inclusion for Mobility Gig Workers GloballyTimePayment is a Boston-based FinTech company owned by affiliates of Fortress Investment Group, a leading, highly diversified global investment manager. The companys proprietary credit scoring and risk-based transaction model delivers competitive lease financing solutions across the credit spectrum; from Fortune 500 companies to small business start-ups.