Altriarch Asset Management, a private credit manager headquartered in Charleston, South Carolina, continues to redefine the landscape of factoring with its innovative and bespoke financing solutions in 2024.  Through its wide variety of financing solutions, including senior, mezzanine, subordinated debt, terms loans, and participation capital, Altriarch has empowered multiple factors in every corner of the U.S. by extending, restructuring and renewing credit facilities tailored to the unique needs of each of its borrowers.

“At Altriarch, we remain committed to advancing the interests of the factoring industry by providing favorable terms that drive operational efficiency and client satisfaction,” said McLean Wilson, Managing Partner of Altriarch.  “Thoughtfully structured debt facilities have been key to our success this year, and I’m extremely proud of the approach our team takes to ensure optimal cash flow strategies for our clients.”

Altriarch’s recent initiatives emphasize the significance of collaborative efforts in propelling the business financing community forward.  Noteworthy recent engagements include:

• A commitment to participate in a factoring facility for a mechanical contractor located on the West Coast that specializes in plumbing, HVAC and other maintenance services.  The lead on the transaction, an alternative lending company focused on construction receivables financing with over 25 years of experience, approached Altriarch in order to avoid concentration limits on their senior line of credit.  The Altriarch team was able to quickly structure a commitment up to $5 million, or 90% of total net funds employed.

• The extension of a senior secured credit facility for a factoring company that is focused on the manufacturing, oil and gas and temporary staffing industries.  Altriarch worked diligently with this borrower to structure a facility that would support the growth of this factor's business and provide the best opportunity for the company to compete on industry pricing.  The facility, which had an original maximum commitment of $5 million, was immediately expanded to $7.5 million, and includes an accordion feature to extend to $10 million.

• The renewal of a senior secured line of credit for a long-term factoring partner based in the Southeast.  The borrower, who Altriarch has worked with for over two years, requested to continue the relationship with Altriarch and extend the facility an additional two years.  In addition to renewing the facility, Altriarch was able to increase the maximum commitment from $5 million to $7.5 million, as well as restructure the agreement to include provisions that will best support the future growth of the company.

• An agreement to participate in the DIP facility with a long-term factoring partner located in the Northeast.  Given the factor’s track record around similar workouts the Altriarch team was comfortable with this transaction.  The facility is with a government medical staffing firm located in the Northeast that has been in operation for over 30 years.  On the $10 million commitment, Altriarch agreed to participate 25% of NFE, or up to $2.5 million.

By championing these partnerships, Altriarch exemplifies its dedication to fostering innovation, stimulating healthy competition and facilitating efficient access to capital for small businesses.