Alterna Capital Solutions Celebrates 2 Years With Completion of Additional $15 Million Equity Investment and a $30 Million LOC Increase
WINTER PARK, Fla., August 4, 2020 (Newswire.com) - Alterna Capital Solutions, a specialty and alternative financing lender to small businesses experiencing growth, today announced the completion of an additional $15 million private equity investment from Alterna Equity Partners, coinciding with a line increase of $30 million from Texas Capital Bank to complement a $50 million asset-based credit facility led by Wells Fargo Capital Finance. The equity extension and line increase will be used to meet the growing demand from small-business owners looking for a collaborative financing partner not only for alternative funding that’s complementary to their established bank relationships but also long-term guidance for adjusting to expected and unexpected cash flow trends. Total balance sheet for Alterna Capital Solutions as it celebrates its second anniversary now reaches $105 million.
“We’re entering year three with over 50 small-business clients representing nearly half a billion in total receivables purchased. I’m impressed by our performance and proud of our team’s skill at being a creative financial partner for small-business owners,” said Stan Carpenter, founder and President of Alterna Capital Solutions. “The private equity show of confidence and line increase are a reflection of our team’s lost-art ability to listen and quickly respond to specific challenges small-business owners are facing today. Our early partnership with Alterna Equity Partners has proven foundational for remaining flexible and collaborative with clients, and our new partnership with the commercial team at Texas Capital Bank further fuels our growth in every region where we operate.”
“We’re pleased to join an impressive group of equity investors and lenders in support of Alterna’s growth,” said Jeff Carbery, group head of lender finance at Texas Capital Bank. “We look forward to this new relationship with the Alterna Capital Solutions team as they provide a critical service for the millions of small businesses that are the backbone of our American economy.”
“It was refreshing to meet a lending partner who understood how the seasonality of our business creates cash-rich and cash-poor intervals,” said Sean Beers, president of Portland Product Werks. ”The Alterna team jumped right in, listened to our concerns and objectives, and were willing to negotiate to honor our requests. They’re hardworking, genuine, and a perfect extension of our financing team.”
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 70+ 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, Florida, Alterna Capital Solutions provides financing for up to $15 million in growth capital. Details available at AlternaCS.com.
About Texas Capital Bank
Texas Capital Bank is a commercial bank that delivers highly personalized financial services to businesses and entrepreneurs. We are a wholly owned subsidiary of Texas Capital Bancshares, Inc., a member of the Russell 2000® Index and the S&P MidCap 400®. Headquartered in Dallas, the bank has full-service locations in Austin, Dallas, Fort Worth, Houston and San Antonio. For more information, please visit www.texascapitalbank.com.
CONTACT:
Stan Carpenter, President
M: 407-497-4464
Scarpenter@AlternaCS.com
Source: Alterna Capital Solutions