Bastion Management agented a senior debt investment of $20 million with accordions up to $60 million in Vernance LLC to fund future growth of their consumer lease-to-own ("LTO") portfolio.

Vernance provides financing solutions for a wide range of consumer discretionary products. They work closely with their extensive network of approximately 4,000 third-party retailers, enabling customers to access financing options through both in-store and online transactions.

"Teaming up with Bastion marks a pivotal moment in our journey to expand Vernance's LTO solutions and reach a wider consumer base," said Daniel Collins, CFO of Vernance. "Our goal is to equip consumers with financial tools that simplify budget management. We're enthusiastic about the opportunity to elevate Vernance to a prominent position in the LTO sector, and we believe Bastion is the perfect partner to support our growth."

Tim Joyce, Co-President of Bastion, added, "We are excited to partner with Vernance, a company with an exceptional track record and commitment to customer satisfaction. This credit facility represents a significant step in the Company's growth and will help support the management team's mission of offering flexible and accessible leasing solutions to consumers.