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MidCap Financial Trust Agents $25MM Credit Facility for Lendr

March 22, 2018, 07:12 AM
Filed Under: Lender Finance

Lendr, a provider of flexible working capital to small- and medium-sized businesses, specializing in business finance and factoring solutions, announced the closing of a $25 million senior credit facility. MidCap Financial Trust served as the Administrative Agent for the transaction. The deal agreement provides Lendr with increased financing power and the expansion of the facility to $50 million.

"Partnering with MidCap will strengthen Lendr's position to expand and support the small- and medium-sized business community," said Tim Roach, CEO of Lendr. "All of us at Lendr are excited to work with MidCap who has displayed a unique understanding of our industry as well as the ability to think creatively in structuring the transaction.  We look forward to growing our financing platform with the oversight of MidCap." 

"We are excited to partner with Tim and the rest of the Lendr team as they grow the platform," said JD Gettmann, Managing Director at MidCap Financial. "This transaction provides flexible capital that will enable Lendr to execute on its near-term growth plan."

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