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Wells Fargo Upsizes Verdant Commercial Capital’s Warehouse Line of Credit to $225MM

February 24, 2023, 07:37 AM
Filed Under: Lender Finance

Verdant Commercial Capital has grown its funding capacity. Verdant’s primary warehouse line of credit, led by Wells Fargo Bank, was increased to $225 million with the addition of Regions Bank as a participant in the lending group. At the same time, the line was extended for two years. Wells Fargo acts as the Administrative Agent for this facility.

“The extension and expansion of our main warehouse line provides Verdant with greater stability to support growth,” said Verdant Chief Financial Officer Robert Moskovitz. “Verdant’s first term securitization coupled with expanding our warehouse capacity improves our funding efficiency, allowing us to better meet our customer demands.”

“We’re very appreciative of the ongoing support and confidence our banks have shown towards the Verdant platform,” said Verdant Chief Executive Officer Mike Rooney. “As we move into 2023, we’re optimistic of continued record growth in our originations. This line expansion is coming at the right time.”

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