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Wells Fargo CF Adds $30MM LOC to Alterna Capital Solutions’ ABL Facility

March 03, 2021, 06:00 AM
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Alterna Capital Solutions announced a $30 million increase to its asset-based credit facility with Wells Fargo Capital Finance. The line increase brings the firm’s total credit facility to $110 million, positioning Alterna Capital Solutions to meet growing demand in the small-business sector for customized options, with a financing partner capable of long-term guidance and flexible funding complementary to established bank relationships.

“Extreme stress on small-business supply chains since early 2020 and the resulting working capital crunch prove out worst-case scenarios foreseen by our experience and expertise in alternative and specialty financing,” said Stan Carpenter, founder and President of Alterna Capital Solutions. “To say that no one saw this coming is misleading—we have always partnered with small-business owners who are experiencing their own working capital and lending ecosystem events caused by regulatory and covenant forces beyond their control and that of their bankers. Our ability to provide growth capital, combined with strategic financing advice, is supported by our lending relationship with Wells Fargo Commercial Capital’s Lender Finance team and the Wells Fargo Ft. Lauderdale, FL, Commercial Banking team.”

“The team at Alterna Capital Solutions are experts at providing growth capital to business owners to support their return to financial health,” said Stewart Hayes, Managing Director at Wells Fargo Capital Finance. “We look forward to continuing our relationship as their business continues to grow.”

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