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Capital One Closes $75MM Credit Facility for 36th Street Capital Partners

August 15, 2018, 08:20 AM
Filed Under: Lender Finance

Capital One announced that it has renewed and upsized the three-year, expandable senior secured revolving credit facility it originally provided 36th Street Capital Partners in June 2017. The revolver is now $75 million—an increase of $25 million.

“We are very pleased to be able to increase the size of the facility to support the company’s growing pipeline,” said Dan Tsacoumangos, Director at Capital One’s Financial Institutions Group. “The 36th Street Capital team has been able to successfully execute in this market, and we are proud to serve as their financing partner.”

Founded in 2014, 36th Street Capital is an independent finance company specialized in structuring customized equipment financing solutions for middle market companies seeking alternative funding sources. It partners with lessors, private equity firms, and advisory firms to originate equipment leases and loans for their clients.

“The expansion of our credit facility with Capital One is another important milestone for 36th Street Capital,” said Kiran Kapur, 36th Street’s Co-Founder and CEO. “It bolsters our ability to meet the evolving needs of clients in search of alternative equipment financing solutions.”

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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