Victory Park Capital Provides $50 Million Credit Facility to The Credit Junction
Press Release
May 05, 2015
CHICAGO – May 5, 2015 – Victory Park Capital (VPC), an asset management firm focused on middle market debt and equity investments, announced today that it has provided a $50 million credit facility to The Credit Junction, an online provider of working capital financing to small and mid-sized enterprises (SMEs). The facility will allow the company to provide comprehensive capital solutions to SMEs across the United States, with the long-term vision of transforming the way SMEs finance their working capital needs.
In addition to providing The Credit Junction with its first institutional credit facility, VPC has provided an investment to fund working capital needs in advance of the company’s equity raise expected later this year.
“Small businesses are a large segment of the marketplace that continues to be underserved by traditional banking institutions,” said Tom Welch, a principal at Victory Park Capital. “What excites us about partnering with The Credit Junction is the lack of competition and innovative financing alternatives within the SME ABL space along with its unique customer acquisition strategy. We expect to see substantial growth in the platform over the near-term and our facility is ready to support that.”
“We are extremely excited to partner with Victory Park at this stage in our company’s lifecycle,” said Michael Finkelstein, founder and CEO of The Credit Junction. “We think an opportunity exists to further disrupt small business lending and with VPC’s support, we now have the pieces in place to execute on our business plan.”
About Victory Park Capital
Victory Park Capital Advisors, LLC (“VPC”) is a privately held, SEC-registered, global alternative investment firm. VPC provides opportunistic capital solutions to both emerging and established businesses with an expertise investing across various sectors where traditional sources of capital are limited. The firm’s differentiated offerings leverage an extensive network of industry relationships, disciplined deal origination, creative financing capabilities and broad credit structuring and special situations expertise. The firm was founded in 2007 and is headquartered in Chicago with additional offices in New York, Los Angeles and San Francisco. For more information, please visit www.victoryparkcapital.com.
About The Credit Junction
The Credit Junction is a technology-enabled, online lending platform focused on providing working capital and supply chain financing solutions to small and mid-size businesses. The company employs an asset-based lending credit evaluation model, and by doing so, can now offer businesses up to $2M in capital availability. By coupling technology and data intelligence with traditional asset-based lending metrics, The Credit Junction can better assess the health of a small business, as well as give those businesses a more transparent and user-friendly experience. The Credit Junction’s fast, flexible and efficient access to capital provides the resources small business owners need to grow their business, which ultimately supports job creation and local community development. For more information visit: http://www.thecreditjunction.com.