BALA CYNWYD, Pa., March 23, 2021 /PRNewswire/ -- Context Business Lending, LLC ("CBL") a family office-backed leading, national asset-based lender, has grown its investing power by increasing its warehouse line by bringing Texas Capital Bank as Joint Lead Arranger into its warehouse facility, led by CIBC Bank USA as agent. CBL has enjoyed tremendous growth in its quest to disrupt asset-based lending (ABL), nearly quadrupling its portfolio in 2020. The enhanced credit facility will enable CBL to keep costs down and facilitate further portfolio growth.
"It was extremely important for us to find a leverage provider that could think outside the traditional ABL box and understand how we are working to improve the lending landscape. CIBC and Texas Capital Bank both took the time to understand our vision and partner with us to allow for needed flexibility as we continue to grow." said Meredith Carter, President and CEO.
CBL is becoming increasingly well known in the specialty lending space for its differentiated thinking as evidenced by its focus on a customer-centric, bottoms-up approach to lending and new products like their E-Commerce division. "We are excited to welcome CBL to our growing list of specialty finance clients. Lender finance has been an increasingly important focus for us and CBL embodies the forward-thinking lenders we want to be aligned with." Said Steven Katz, SVP, Commercial Lender Finance at Texas Capital Bank. Jeff Michalczyk, Managing Director, CIBC US Commercial Banking added, "We are pleased to provide access to financing as CBL realizes its ambitions to serve its asset-based lending clients."
In 2020, CBL hired many experienced new team members, was recognized by the ABFJournal as one of the Top 25 Most Innovative Companies in Commercial Finance, and CEO Meredith Carter was recognized by SFNet as a 40 Under 40 winner. Click here to learn more about some of the success stories at CBL.
About Context Business Lending, LLC
Context Business Lending is a leading, national asset-based lender focused on providing flexible working capital for lower middle market businesses that do not qualify for traditional bank financing. During this period where COVID-19 is having a profound impact on working capital needs of many businesses, Context Business Lending is increasingly flexible and continuing to take a holistic view of a businesses' challenges and opportunities. Context Business Lending is sector agnostic and works with businesses in the manufacturing, distribution, wholesaling, consumer products, eCommerce and service industries. To learn more, please visit www.ContextBL.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/context-business-lending-increases-its-investment-power-301253982.html
SOURCE Context Business Lending