NFS Capital lands $250M facility with Fifth Third Bank
Deal expands bank funding capacity to $800M
Equipment finance lender NFS Capital increased its total bank credit facility capacity to $800 million after securing a $250 million warehouse credit facility with Fifth Third Bank.
The agreement adds Fifth Third to the Beverly, Mass.-based lender’s banking partners and provides additional capacity to fund equipment transactions across the United States and Canada, according to today’s company release.
NFS plans to use the money to support equipment purchases involving multiple vendors and transactions generated through its manufacturer and vendor partnerships.
The new facility will allow the company to work on different kinds of funding transactions while continuing its existing approach to underwriting and customer service, NFS’ Chief Financial Officer Dana Calumby stated.
Founded in 2006, NFS Capital finances equipment purchases ranging from $150,000 to more than $20 million, according to the release. The company has provided more than $2 billion in equipment financing since its founding.
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