36th Street Capital Partners, LLC announced it has expanded its three-year, senior secured revolving credit facility to $125 million, an increase of $25 million.
Bridgeport, CT-based People’s United Bank has joined the existing syndicate for the amount of the increase, which will be used to fund portfolio growth.
“We are excited to partner with the 36th Street Capital team and look forward to fostering this relationship to support their long-term strategy and growth objectives," said Kate Lepak, Head of Asset-Based Lending, People’s United Bank. “Our goal is to provide our customers with specialized financial flexibility and industry expertise to facilitate sustainable growth.”
Founded in 2014, 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 pleased to continue the expansion of our credit facility with the addition of People’s United Bank,” said Kiran Kapur, 36th Street’s Co-Founder and CEO. “As we grow, finding bank partners like People’s United who understand the attributes unique to our business and that of our clients, is an important part of our ability to deliver creative solutions to our origination partners.”
36th Street Capital Partners, LLC is a joint venture affiliate of BlackRock TCP Capital Corp.