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IDB Bank® Agents $372.0MM Facility for Merchant Financial Group

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IDB Bank® Agents $372.0MM Facility for Merchant Financial Group

PR Newswire

NEW YORK, July 27, 2018 /PRNewswire/ -- Merchant Financial Group, a leader in providing working capital solutions for innovative businesses, announced today the expansion of its existing credit facility from $323 million to $372 million to support the company's growth and expansion of its financial services.  IDB Bank served as Sole Lead Arranger, Sole Bookrunner and Administrative Agent on the transaction.

Merchant Financial Group provides forward-thinking financing services that enable dynamic companies to achieve their vision. Long considered to be the industry leader in factoring, Merchant has in recent years evolved its services to include strategic advisement on licensing and direct-to-consumer. Merchant is now the one-stop shop for capital needs, servicing all types of companies and business models. Merchant works closely with companies at various stages in their growth, and partners with entrepreneurs, established business leaders, and passionate founders to transform their creative vision into extraordinary business growth.

IDB Bank is a New York State-chartered commercial bank and a member of the FDIC.  In addition to its Manhattan headquarters and branch offices in Brooklyn, NY, Staten Island, NY and Short Hills, NJ, the Bank maintains other full-service branches in Southern Florida and Southern California.  The Bank provides a complete range of personal and commercial banking, trade services and deposit products to U.S. and international clients. Areas of expertise include Middle Market, Asset Based and Commercial Real Estate Lending; Factoring, through its division, IDB Factors®; Trade Finance, and U.S. and International Private Banking.

IDB Bank is a registered service mark of Israel Discount Bank of New York. Member FDIC

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SOURCE IDB Bank

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