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Victory Park Capital Upsizes Senior Secured Loan Facility $150MM for Dave
Wednesday, September 20, 2023

Lenders/Participants Victory Park Capital [Lender]
Structure Delayed Draw Senior Secured Loan Facility Upsize, Amendment
Amount $150.000 Million
Borrower(s) Dave, Inc.
Description The amendment to the Credit Facility accomplishes the following: Increases the total size by $50 million to $150 million; Increases the advance rate by over 800 basis points based on the $75 million outstanding balance on the Credit Facility as of June 30, 2023; Reduces cost of funds by nearly 200 basis points based on the outstanding balance as of June 30, 2023; and Extends the maturity by approximately two years to December 15, 2026.
Industry Lender Finance
Location CA
Related Tags Fintech, Lender Finance, Victory Park Capital Advisors