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AloStar Capital Finance Provides $30MM Credit Facility to BlackRiver Business Capital

July 31, 2019, 08:50 AM
Filed Under: Industry News

AloStar Capital Finance successfully agented and closed a $30 million credit facility to BlackRiver Business Capital (doing business as ACG Equipment Finance), an equipment finance company focused on the small-to-mid-ticket market from $10,000 to $250,000.

“Our company is rapidly growing as we expand our platform and customer base. This committed credit facility from AloStar will propel our company to the next level by expanding our reach,” said Rob Childers, CEO of BlackRiver Business Capital. “With AloStar’s support, we look forward to continuing to provide quick turnaround times, competitive pricing and flexible finance programs to a greater number of equipment sellers and buyers.”

BlackRiver Business Capital provides creative equipment finance solutions to help businesses obtain the equipment they need, and to help equipment sellers increase their sales. Founded in 2015, the firm merged with an equipment finance origination company in April 2018. The combined company has financed more than $500 million in commercial equipment across a diverse group of industries.

“Our team of experts collaborated with BlackRiver’s leaders to understand the firm’s needs and goals, and offered the necessary liquidity for the company to manage its growth,” said Andy McGhee, President of AloStar Capital Finance. “BlackRiver is committed to providing best-in-class service to both its equipment seller and business owner customers, and we’re pleased to provide the resources needed to serve a larger audience.”

AloStar Capital Finance is a division of Cadence Bank, N.A.

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