nFusion Capital Increases and Extends Revolving Credit Facility

nFusion Capital Increases and Extends Revolving Credit Facility

AUSTIN, TX–AUGUST 3, 2023–nFusion Capital Finance (the “Company”), a leading commercial finance company to entrepreneurs, today announced that it has entered into a new multi-year senior bank facility with TAB Bank and participating banks Zions Bank and Pathward. The new line more than doubles the size of the existing revolving credit facility and supports the Company’s long-term expansion strategy.

The financial commitments will allow nFusion Capital to continue its multi-prong growth strategy, investing in its core factoring and asset based lending businesses and exploring disciplined accretive acquisitions. With this new facility and the support of its consortium of bank lenders, the Company has a clear path to grow its portfolio size to well more than $100 million before the end of 2023.

“We have been the primary capital partner provider for nFusion Capital for over two years, and CEO Jason Lippman has grown the company conservatively during our relationship,” said Rick Bozzelli, President & CEO of TAB Bank. “As such, we have been able to enhance our credit facility accordingly. In anticipation of further credit needs to support the Company’s strategy, we have again increased our facility by over 100% and look forward to furthering our great relationship with Jason and the nFusion Capital team.”

In illustrating the company’s anticipated growth, nFusion Capital points to significant increases in funding opportunities since the banking sector turmoil began at the beginning of the year and increased demand for small business funding in general.

“To double our credit line in this market is a true testament to TAB and our bank participants’ faith in our team and the historical performance we have consistently generated,” Lippman said. “Current challenges in the general banking environment are a double-edged sword. On the one hand, it creates many opportunities for us to grow as banks have become more conservative, but on the other hand, it is more difficult for commercial finance companies to grow and expand their senior facilities in this environment. We are thrilled to continue our lending relationship with TAB Bank.”

nFusion Capital’s mission is to support business growth and the spirit of entrepreneurism where every individual has the opportunity to fulfill their dreams or fail trying. “Entrepreneurism is not for everyone – but it is the key to growth and success of our nation and rising prosperity for all,” Lippman added.

 

 

 

 

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