At One Year, Alterna Capital Solutions Expands LOC to $50 Million
Line increase with Wells Fargo Commercial Capital echoes firm's strong year providing growth capital for 23 small-business clients representing $350 million in total funding.
WINTER PARK, Fla. , July 17, 2019 (Newswire.com) - Alterna Capital Solutions, a specialty and alternative financing lender to small businesses experiencing growth, today announced a $50 million asset-based credit facility with Wells Fargo Commercial Capital. The line increase, with an accordion to $70 million, will be used by Alterna Capital Solutions to meet the growing demand from small-business owners seeking a financing partner capable of long-term guidance and funding complementary to established bank relationships.
“We’re extremely encouraged by our performance during Alterna’s first 12 months, and I’m proud of our team’s nimbleness and commitment to business owners seeking a creative financial partner,” said Stan Carpenter, founder and President of Alterna Capital Solutions. “Without a doubt, our efforts are strengthened by our relationship with the Wells Fargo Commercial Capital’s Lender Finance team and the Wells Fargo Ft. Lauderdale, FL, Commercial Banking team. This line increase is indicative of our model’s effectiveness in providing small-business owners access to working capital to fund growth, as well as critical guidance in the moment and down the road.”
“We’ve witnessed firsthand the extraordinary growth Alterna has had in their first year of operations,” said Stewart Hayes, Managing Director at Wells Fargo Commercial Capital. “We look forward to continuing our relationship with the Alterna team and supporting their success as they evolve their business in exciting new ways.”
About Alterna Capital Solutions
We are committed to elevating small-business success into greatness through innovative and comprehensive small-business financing solutions delivered with a personal touch. Our leadership team brings 65+ collective years of alternative lending and specialty financing experience to partner and small-business client relationships across the country. Founded in 2018 and headquartered in Winter Park, FL, Alterna Capital Solutions provides financing for up to $10 million in growth capital. Details available at AlternaCS.com.
About Wells Fargo
Wells Fargo & Company is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investments, mortgage, and consumer and commercial finance through more than 8,300 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 42 countries and territories to support customers who conduct business in the global economy. With approximately 263,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 25 on Fortune’s 2017 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.
CONTACT:
Stan Carpenter, President
M: 407-497-4464
Scarpenter@AlternaCS.com
Source: Alterna Capital Solutions