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The ABL Advisor Deal Tables
SELECTED TRANSACTION DETAILS
Victory Park Capital Upsizes Senior Secured Loan Facility $150MM for Dave
Wednesday, September 20, 2023
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Lenders/Participants
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Victory Park Capital [Lender]
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Structure
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Delayed Draw Senior Secured Loan Facility Upsize, Amendment
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Amount
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$150.000
Million
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Borrower(s)
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Dave, Inc.
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Description
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The amendment to the Credit Facility accomplishes the following: Increases the total size by $50 million to $150 million; Increases the advance rate by over 800 basis points based on the $75 million outstanding balance on the Credit Facility as of June 30, 2023; Reduces cost of funds by nearly 200 basis points based on the outstanding balance as of June 30, 2023; and Extends the maturity by approximately two years to December 15, 2026.
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Industry
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Lender Finance
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Location
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CA
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| Related Tags |
Fintech, Lender Finance, Victory Park Capital Advisors
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