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Capital One Closes $200MM Senior Secured Credit Facility for Harvest Commercial Capital

August 01, 2018, 07:00 AM
Filed Under: Real Estate

Capital One announced that it has closed a four-year, $200 million senior secured credit facility for Harvest Commercial Capital, LLC (Harvest), an SBA 504 and conventional small business mortgage lender affiliated with Harvest Small Business Finance, LLC. Both entities are owned in part by a fund managed by Medalist Partners LP (Medalist). The Capital One facility provides Harvest Commercial Capital with financing to grow its commercial mortgage loan originations. In December 2017, Capital One closed a $60 million warehouse facility to Harvest Small Business Finance to support nationwide originations of SBA 7(a) loans.

“We are very pleased to be partnering with Harvest as the company embarks on the next phase in its development,” said Brian Talty, Managing Director at Capital One’s Financial Institutions Group.

Formed in 2016, Harvest is headquartered in Laguna Hills, CA and focuses on providing commercial real estate loans to borrowers too small to be served by large, regional, or community banks. Medalist is a private institutional investment management firm based in New York specializing in structured credit and asset finance. Medalist manages capital primarily on behalf of institutional investors including pensions, endowments, foundations, family offices and high net worth individuals.

“We turned to Capital One once again for financing because their team has demonstrated that they understand our strategy and have the expertise and creativity to develop a customized credit facility that supports our goals,” said David Scherer, Harvest’s Co-Founder and President.

Capital One’s Financial Institutions Group is dedicated to the lender finance market and works with a wide variety of non-bank financial institutions and asset managers. The team is focused on providing customized lending, advisory, and financing products and solutions—including asset securitization, recourse financing, and interest-rate hedging.

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