IDB Bank Syndication Platform Enables Merchant Financial Group to Extend Credit Facility … | New

NEW YORK, Nov. 19, 2021 (GLOBE NEWSWIRE) – Merchant Financial Group, a leader in providing working capital solutions for innovative businesses, today announced the extension of its existing credit facility by $ 372 million. dollars to $ 400 million to support the growth of the company and the expansion of its financial services. The expansion involves a syndicate of 14 lenders, with IDB Bank acting as administrative and guarantee agent on the transaction. IDB has been a Merchant Lender since the creation of the group and has acted as a syndication agent since 2009.

“IDB is an established partner we can count on to design and guide a complex transaction,” said Adam Winters, President and CEO of Merchant. “Through many years of experience, we knew their syndication office had the connections, expertise and responsiveness that we rely on to create dynamic opportunities for ourselves and our clients.

“Our work with Merchant is a great example of what IDB’s syndication platform can accomplish,” said Chris Dowd, senior vice president of IDB. “With the resources we have committed, we are able to execute complex lending strategies that can support the growth of our clients. “IDB Executive Vice President and Director of Loans Lissa Baum said Merchant’s syndicated loan” demonstrates the maturity of the IDB lending platform and our determination to evolve while always prioritizing to the needs of our customers ”.

Merchant Financial Group provides forward-thinking financing services that empower dynamic businesses to achieve their vision. It provides a “one stop shop” for capital needs – including factoring, asset lending, credit checking and insurance, brand licensing and purchase order financing – while providing each customer tailor-made financial solutions to meet specific needs. Merchant works closely with companies across multiple industries at various stages of their growth, and partners with entrepreneurs, established business leaders and passionate founders to turn their creative vision into extraordinary business growth.

About BID Bank ( www.idbny.com )

IDB Bank is a New York State chartered commercial bank and member of the FDIC. Headquartered in Manhattan, IDB operates branches in Brooklyn, NY, Staten Island, NY and Short Hills, NJ, and full-service branches in South Florida and Southern California. The bank provides a full-service lending platform for personal and commercial banking, business services, and deposit products to US-based and international customers. His areas of expertise include mid-market, commercial and asset-based real estate lending, factoring, trade finance, clothing and consumer products, healthcare, food and beverage, high technology, education and nonprofit organizations and US and international private banking. IDB also operates a syndication office which allows the administration of complex transactions.

Karen Lichtenfeld Israel Discount Bank (212) 551-8797 [email protected]

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