Coast Funding, a leading provider of alternative financing for small and mid-sized businesses, announced the successful closing of a senior credit facility with Plains Commerce Bank, a South Dakota-based, FDIC-insured institution with over $1.2 billion in assets. The terms of the transaction were not disclosed.

This milestone significantly enhances Coast’s funding capacity, enabling the company to serve more clients, deliver faster approvals, and offer more competitive rates.

“This transaction is a meaningful endorsement of the strength of our portfolio, our underwriting discipline, and our team,” said Matt Price, Founder and CEO of Coast Funding. “Plains Commerce has been a valued partner for the past three years. This facility is the natural evolution of our relationship and a critical step forward in executing our long-term vision.”

Earlier this year, Plains Commerce Bank introduced its proprietary Plains Pay platform—a modern treasury management solution designed to provide the fintech sector with efficient ACH, wire, payment processing, and warehouse lending capabilities.

“Coast Funding has demonstrated exceptional growth and a strong commitment to serving small businesses,” said Chris Wasmund, COO of Plains Commerce Bank. “We’re proud to support their continued expansion and be part of a partnership that helps entrepreneurs thrive.”