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SELECTED TRANSACTION DETAILS
Needhan Bank Closes $70MM Secured Credit Facility for XS Financial
Friday, June 7, 2024

Lenders/Participants Needham Bank [Lender]
Structure Secured Credit Facility
Amount $70.000 Million
Borrower(s) XS Financial
Description Company amended and upsized its current $54 million line of credit with Needham Bank to $70 million. Loans made under the line of credit will bear interest at an annual rate equal to the Wall Street Journal Prime rate plus one percent (1.0%) when the advance rate applied to eligible borrowing base receivables is < 65% and the Wall Street Journal Prime rate plus one and a half percent (1.5%) when the advance rate applied to eligible borrowing base receivables is between 65% and 75%. The amended Credit Facility has an extended term, expiring in June 2027, and may be prepaid with no penalty.
Industry Lender Finance
Location CA
Related Tags Equipment Finance, Needham Bank, XS Financial




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