36th Street Capital announced today that it has expanded its three-year, expandable senior secured revolving credit facility to $100 million, an increase of $25 million.
Los Angeles based City National Bank has agreed to participate in the syndicate, which is led by Capital One Bank, N.A.
“City National is so proud to be part of the growth and success of 36th Street Capital,” said Cecilia Park, Senior Vice President of Structured Finance/Specialty Banking at City National. “We have unique expertise in this area, and we specialize in helping select independent equipment leasing companies grow and thrive.”
Founded in 2014, 36th Street Capital is an independent finance company specialized in structuring customized equipment financing solutions for middle market companies seeking alternative funding sources.
“We are very pleased to have City National join our credit facility as we continue to grow and our needs expand” said Kiran Kapur, 36th Street’s Co-Founder and CEO. “By including additional bank partners, we further strengthen our role as a reliable funding source to our origination partners and their clients.”
About 36th Street Capital
36th Street Capital Partners, LLC is an independent provider of alternative funding solutions for the equipment financing industry. With offices in New Jersey, Utah and California, the firm provides growth capital or liquidity options to middle market companies nationwide through loan and lease transactions.
36th Street Capital Partners, LLC is a joint venture affiliate of BlackRock TCP Capital Corp
(NASDAQ: TCPC). For more information, visit www.36thstreetcapital.com
About City National Bank
With $50.3 billion in assets, City National Bank provides banking, investment and trust services through 71 offices, including 19 full-service regional centers, in Southern California, the San Francisco Bay Area, Nevada, New York City, Nashville, Atlanta, Minneapolis and Washington,D.C. In addition, the company and its investment affiliates manage or administer $67.5 billion in client investment assets.
City National is a subsidiary of Royal Bank of Canada (RBC), one of North America’s leading diversified financial services companies. RBC serves more than 16 million personal, business, public sector and institutional clients through offices in Canada, the United States and 34 other countries.
For more information about City National, visit the company’s website at www.cnb.com.