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Fundation Secures $120MM Credit Facility from SunTrust Bank

May 16, 2018, 08:00 AM
Filed Under: Lender Finance

Fundation, a leading digitally-enabled lender and credit solutions provider, announced that it has secured a $120 million asset backed credit facility from SunTrust Bank. Waterfall Asset Management was included in the facility as a Class B lender. This additional credit facility further enhances Fundation’s capacity to extend credit to small businesses across the United States.

Sam Graziano, CEO of Fundation said, “Garnering the support of one of the leading super regional banks engaged in asset backed finance is another milestone for our Company. As we continue to bolster the size and quality of our capital base, we can become an even stronger ally to our strategic partners and their small business clientele.”

Fundation focuses on delivering credit to small businesses through various forms of strategic partnerships, including banks, other financial institutions, and various service providers to the small business market. Fundation currently has strategic partnerships with Regions Bank, Citizens Bank, the BancAlliance network of community banks, the Minority Business Development Agency and a host of other partners.

Fundation, majority-owned by New York based private equity firm Garrison Investment Group, performs origination services for regional and community banks as well as originates small business loans and lines of credit for its balance sheet. Fundation maintains a separate $120 million asset backed credit facility with Goldman Sachs Bank USA which was secured in August of 2016, and a $35 million facility with MidCap Financial which was secured in March of 2017.

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