FREE MEMBERSHIP Includes » ABL Advisor eNews + iData Blasts | JOIN NOW ABLAdvisor Gray ABLAdvisor Blue
 
Skip Navigation LinksHome / Articles / Read Article

Print

Blackstone Asset-Based Finance to Provide $1.14B in Financing to Triad Financial Services

Date: Aug 15, 2023 @ 07:45 AM
Filed Under: Lender Finance

Triad Financial Services, a subsidiary of ECN Capital Corp signed a letter of intent for $1.14 billion in financing from Blackstone’s Asset-Based Finance (“ABF”) Group. The capital will be used to originate high-grade consumer loans that will be serviced by Triad.

“Triad provides critical financing solutions that help prospective homeowners meet their family’s needs,” said Steve Hudson, CEO of ECN. “We look forward to continuing to innovate with our dealers and provide affordable housing to more Americans. We anticipate this new capital will accelerate growth.”

""We are pleased to expand our relationship with Triad, providing capital to help more families access affordable housing and an attractive opportunity for our investors,”” said Rob Camacho, Senior Managing Director, and Co-Head of Asset Based Finance.

The Blackstone ABF capital will enable the origination of new, high-grade consumer loans and aligns with Blackstone’s goal of providing investment-grade like corporate credit investments for clients including leading insurance companies.

Comments From Our Members

You must be an ABL Advisor member to post comments. Login or Join Now.