36th Street Capital announced it has expanded its three-year, expandable senior secured revolving credit facility to $100 million, an increase of $25 million.
Los Angeles-based City National Bank has agreed to participate in the syndicate, which is led by Capital One Bank, N.A.
“City National is so proud to be part of the growth and success of 36th Street Capital,” said Cecilia Park, Senior Vice President of Structured Finance/Specialty Banking at City National. “We have unique expertise in this area, and we specialize in helping select independent equipment leasing companies grow and thrive.”
Founded in 2014, 36th Street Capital is an independent finance company specialized in structuring customized equipment financing solutions for middle market companies seeking alternative funding sources.
“We are very pleased to have City National join our credit facility as we continue to grow and our needs expand,” said Kiran Kapur, 36th Street’s Co-Founder and CEO. “By including additional bank partners, we further strengthen our role as a reliable funding source to our origination partners and their clients.”
36th Street Capital Partners, LLC is an independent provider of alternative funding solutions for the equipment financing industry. With offices in New Jersey, Utah and California, the firm provides growth capital or liquidity options to middle market companies nationwide through loan and lease transactions. It is a joint venture affiliate of BlackRock TCP Capital Corp.
The National Equipment Finance Association (NEFA) is a nonprofit trade association created to represent the equipment leasing and finance industry throughout North America by providing a forum for personal and professional growth through Community, Education and Professionalism.