36th Street Capital announced it increased its expandable senior secured revolving credit facility to $170 million in addition to amending terms to a new five-year facility.
San Francisco, CA-based Wells Fargo Bank has joined the syndicate with an additional $35 million participation. The credit facility includes four lenders and is led by Capital One Bank, N.A. as agent.
“Wells Fargo is pleased to work with 36th Street and provide additional capital to help support their continued growth,” said Stewart Hayes, Managing Director in the Lender Finance division of Wells Fargo Commercial Capital.
Founded in 2015, 36th Street Capital is an independent finance company specialized in structuring customized equipment financing solutions for middle market companies seeking alternative funding sources.
“We are very pleased to have the Wells Fargo Lender Finance team join our credit facility,” said Kiran Kapur, 36th Street’s Co-Founder and CEO. “Our lenders continue to be important partners as we strive to bring creative financing solutions to the market. We sincerely appreciate their confidence in our business and the increasing support as we grow.”
36th Street Capital Partners, LLC, with offices in New Jersey, Illinois and California, is a joint venture affiliate of BlackRock TCP Capital Corp.