The company has an impressive business model...that underscores the confidence we have in Coral Capital Solutions’ ability to meet increased demand and capture new business opportunities.
New York, NY (PRWEB) November 02, 2016
Coral Capital Solutions, an innovative provider of financing solutions for North American medium sized enterprises, today announced it has secured a $25 million senior credit facility from Wells Fargo Capital Finance, a leader in asset-based lending. The line of credit accelerates Coral Capital Solutions’ ability to grow as a product focused financing company, and advances its ability to extend funding to its expanding client base.
With banks under regulatory pressure to carefully select their clients, Coral Capital Solutions has added Wells Fargo’s line of credit, enabling the company to extend its factoring facilities to middle market companies across the United States and Canada. Coral Capital factoring transactions range from $500,000 to $10 million and support businesses at critical times of growth by financing their purchase orders and accounts receivables, providing predictable cash flow so management can focus on business expansion, development and order fulfillment. In addition, Coral Capital assists business owners and senior management teams through turnaround transitions, helping to revitalize their business with consistent working capital at times when it is needed the most.
“We are very pleased to support Coral Capital Solutions’ continued business growth with the extension of this line of credit,” said Andrea Petro, Executive Vice President and Division Manager of the Lender Finance Division of Wells Fargo Capital Finance. “The company has an impressive business model, dedicated executive team and a longtime successful track record that underscores the confidence we have in Coral Capital Solutions’ ability to meet increased demand and capture new business opportunities.”
“As Coral Capital continues to grow and attract larger clients, especially in the telecommunications and digital publishing markets, we were looking for a trusted partner that understood our business model and would help us amplify our lending capabilities,” said Einat Steklov, President of Coral Capital Solutions. “The Lender Finance Division team at Wells Fargo demonstrated a clear understanding of our business and worked with us to design a flexible program that allows us to capitalize on opportunities. We expect to have a long lasting relationship with Wells Fargo as we continue to accelerate our business and support our diverse and broad client base.”
About Coral Capital Solutions
Coral Capital Solutions provides financing solutions to middle market companies in a wide variety of industries throughout the U.S. and Canada including technology, telecom, food & beverage, new media, manufacturing and other business service companies. It is a leading source of innovative factoring, asset based lending, purchase order and trade finance products. Coral Capital is well capitalized, and has the ability to consummate transactions quickly from commitment to funding.