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Investors Bank Originates $5MM Credit Line for Plus Funding Group

August 15, 2016, 07:56 AM
Filed Under: Lender Finance

Investors Bank Asset Based Lending (ABL) Group recently arranged a $5 million revolving line of credit for the Plus Funding Group. Based in White Plains, New York, the Plus Funding Group, which serves small to medium-sized firms by providing financing solutions, will invest a portion of the revolver in growing the business and meeting its ongoing capital needs. Plus Funding Group assists companies in a range of industry sectors including media, IT, manufacturing, energy and apparel.

In announcing the lending transaction, Investors Bank ABL Group Sr. Vice President and Director of Business Development Joseph DeVito said, “We have built a solid business relationship with Plus Funding Group’s executives, and they are experienced, capable lenders. Also, the company is very well managed, and the organization has developed a solid list of clients.”

Investors Bank’s ABL lenders leveraged Plus Funding Group’s assets to maximize the revolving facility that was made available to the firm. Working closely with their client, the lenders structured the loan with attractive rates, and the transaction was completed in a timely manner.

Investors Bank is a full-service commercial bank that has been serving customers since 1926. With more than $21 billion in assets and over 145 retail branches in New Jersey, New York City and on Long Island, Investors Bank delivers personalized services and products tailored to the needs of its customers. Investors Bank’s consumer banking services include complete deposit products, online and mobile banking, home equity loans and lines of credit and an array of home mortgages.

Serving the business community, Investors provides deposit accounts, cash management services, business loans and lines of credit, asset-based lending, and commercial real estate financing solutions to small and middle market companies, professional services firms, municipalities, not-for-profit organizations, healthcare firms and a broad range of businesses.

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