Cadence Business Finance Agents $73.5 Million Revolving Credit Facility for NuBridge Commercial Lending
DIAMOND ROD, Caliph .– (BUSINESS WIRE) – NuBridge Commercial Lending, a national commercial real estate bridging lender, has signed a 36-month revolving credit facility with a consortium of banks with Cadence Business Finance acting as agent. The banking group also includes Sunflower Bank, Congressional Bank and Dominion Bank. Cadence originally committed $ 30 million to NuBridge and successfully syndicated the facility to expand the facility. The capital raised under the increased facility will allow NuBridge, along with equity from Trive Capital (a Dallas-based private equity firm), to build on the company’s early success and fuel the platform’s continued growth.
“The support of our financing partners is critical to NuBridge’s growth and our position in the domestic small business loan market,” said Bill Komperda, CEO of NuBridge. “We are fortunate to be working with Cadence and the rest of the banking group on the new credit facility and we are grateful for their support,” added Ed Resendez, President of NuBridge.
“We are pleased to offer NuBridge a bespoke lending solution to support its growth and expansion plans,” said David Ellington, director of originations, Cadence Business Finance. “We are excited to partner with Sunflower, Congressional and Dominion to increase the global credit facility to $ 73.5 million – $ 23.5 million more than originally anticipated.”
About NuBridge Commercial Lending
Headquartered in Diamond Bar, Calif., NuBridge Commercial Lending is a mortgage platform providing short-term bridging loans to commercial property owners in 48 states and the District of Columbia. NuBridge focuses on senior, short-term bridging loans to owners of apartment buildings (residential units), mixed-use properties (typically office or retail space combined with residential apartments), single and multi-tenant office buildings, retail properties, light industrial buildings, warehouses, RV parks and self-storage -Investments. NuBridge targets $ 1 million to $ 10 million loans with maturities of 12, 18, and 24 months. For more information on NuBridge Commercial Lending, please visit www.nubridge.com.
About Cadence Business Finance
Cadence Business Finance (CBF) provides creative asset-based credit and specialty finance solutions to meet the strategic and financial goals of medium-sized companies. CBF also lends to specialty finance firms that provide asset-based or asset-backed loans to US companies. The experienced team of relationship-minded consultants are experts in providing flexible financing structures and understand the challenges of its clients both now and throughout their life cycle. To learn more about Cadence Business Finance, visit www.cadencebusinessfinance.com.
About the sunflower bank
Sunflower Bank, NA, headquartered in Denver, NA, is a regional bank founded 129 years ago. As Sunflower Bank, First National 1870, and Guardian Mortgage, it is a full-service, relational financial institution that caters to the business, personal, and wealth management needs of its clients. Sunflower Bank, NA has banking locations in five states, mortgage capabilities in more than 40 states, and national coverage for its commercial and specialty loan sales areas. Member of the FDIC. Same housing provider. First National 1870 and Guardian Mortgage are divisions of Sunflower Bank, NA
About the congress bank
Congressional Bank’s Lender Finance Group, headquartered in Chevy Chase, MD, provides creative, flexible credit solutions to growing medium-sized specialty finance lenders and mutual funds in a variety of industry sectors. The Lender Finance Group seeks long-term partnerships with credit platforms led by experienced management teams. Congressional Bank targets loan sizes of $ 15 million to $ 75 million and will syndicate facilities of $ 100 million or more through established banking partnerships. Further information on the Lender Finance Group of Congressional Bank can be found at (https://www.congressionalbank.com/commercial-lending/lender-finance/).
About Dominion Bank
Dominion Bank has deep Texas roots. Founded in 1911 in Grapeland, Texas, Dominion Bank began a new chapter in 2019 with the completion of a capital increase of over $ 50 million – the third largest bank capital increase in Texas banking history – along with a planned move of its headquarters to Dallas, Texas. Under the direction of an experienced management team with decades of collective experience in the Texan banking business, Dominion Bank is now able to expand our presence in North Texas through direct access to decision-makers and efficient processing. Dominion Bank strives to build credit and deposit relationships with well-run and profitable companies. The size, ownership and management structure of the bank enable it to underwrite and hold loans of sizeable size, but also to provide excellent customer service and responsiveness that each customer values individually.