Spartan Capital announced that it closed a new senior credit facility with a leading specialty finance lender. The facility provides $60 million at closing and can be increased by an additional $100 million, giving Spartan Capital up to $160 million in total funding capacity.
The new facility is designed to expand Spartan Capital’s ability to provide fast and flexible capital to small and medium-sized businesses across the United States. Spartan Capital is a revenue-based financing provider serving SMBs seeking working capital outside traditional bank lending channels.
The company said the facility gives it greater capacity to support business owners seeking non-bank capital to manage cash flow, invest in growth, and respond to changing operating needs. The financing also supports Spartan Capital’s broader expansion across the alternative financing market.
Spartan Capital plans to use the facility to widen access to its core revenue-based financing products and business loans. The company also intends to accelerate the rollout of additional product offerings and continue shortening the path from application to funding.
The facility also deepens Spartan Capital’s relationship with its lender and supports the company’s data-driven, technology-led underwriting model. Spartan Capital said the facility reflects the strength of its asset performance and the confidence its capital partners have in the company’s leadership team.
The transaction was sourced, structured, and closed entirely by Spartan Capital’s in-house team. The company said this highlights the depth of its capital markets and underwriting capabilities.
Founded in 2016, Spartan Capital provides revenue-based financing solutions to partners, SMBs, and entrepreneurs across a wide range of industries. The company has funded thousands of businesses nationwide.
KEY QUOTES:
“Securing this facility is a major step for us and a clear vote of confidence in the platform we’ve built. Pairing disciplined underwriting with institutional capital of this scale lets us put more money to work for small business owners, and do it faster, as we keep expanding our footprint across the alternative financing space.”
Frank Ebanks, CEO of Spartan Capital
“From a capital markets standpoint, this facility gives us a more efficient and scalable source of funding, along with the runway to grow responsibly. It reflects the strength of our asset performance and the confidence our partners have in the company’s leadership team.”
Terence Walsh, CFO of Spartan Capital
