Quiq Capital Strengthens Financial Position with New Credit Facility
In a strategic move aimed at bolstering its financial strength, Quiq Capital LLC has successfully closed its inaugural revolving credit facility with Dime Community Bank. This new arrangement promises enhanced financial flexibility and liquidity for Quiq, allowing the organization to support its growth initiatives effectively.
Ashish Parikh, Principal of Quiq Capital, expressed his enthusiasm regarding this new partnership. He stated, "We are extremely pleased to have entered into this new relationship with Dime and look forward to growing our platform with this venerable institution." Parikh emphasized that this facility represents a crucial step forward in strengthening Quiq's financial standing, thereby providing the necessary leeway for pursuing strategic objectives.
The revolving credit facility illustrates the strong confidence that institutional partners have in Quiq's lending operations and provides essential resources that will empower the firm to capitalize on various growth opportunities. Thomas X. Geisel, Senior Executive Vice President of Commercial Lending at Dime Community Bank, echoed this sentiment, affirming that the bank aims to provide flexible capital solutions that align with the strategic goals of its clients. He remarked, "Supporting the achievement of Quiq's business strategy with a flexible capital solution is the partnership we strive for with our clients."
Quiq Capital LLC operates as a private credit lender, focusing on generating high-value, risk-adjusted investments. The firm is dedicated to fueling the growth of lower middle market businesses through tailored financial solutions. By harnessing private capital and structured lending, Quiq addresses the funding gaps that have emerged due to the longstanding trend of bank consolidation and the subsequent decline in lending to lower middle market enterprises. This focus has become increasingly crucial, particularly in a business landscape where access to funding remains paramount for many small and medium-sized enterprises.
With more than $14 billion in assets, Dime Community Bancshares, the holding company for Dime Community Bank, has actively established itself as a significant player in the banking sector of New York State. Notably, it holds the top deposit market share among community banks in Greater Long Island. This collaboration with Quiq Capital showcases Dime's commitment to fostering strong relationships with its clients while providing innovative financial solutions.
As Quiq Capital embarks on this new chapter marked by financial empowerment, the potential for expanding its lending platform and enhancing its market position appears highly promising. Strong partnerships such as this one not only highlight the trust placed in Quiq's capabilities but also emphasize the ongoing need for flexible financing options that can prepare businesses for future challenges.
With this credit facility now in place, Quiq is well positioned to navigate the evolving financial landscape and pursue new growth avenues in an increasingly competitive market. The collaboration with Dime Community Bank represents a pivotal milestone in Quiq's mission to support businesses in their journey toward success, ultimately fueling economic growth and innovation in the broader market.
Ashish Parikh, Principal of Quiq Capital, expressed his enthusiasm regarding this new partnership. He stated, "We are extremely pleased to have entered into this new relationship with Dime and look forward to growing our platform with this venerable institution." Parikh emphasized that this facility represents a crucial step forward in strengthening Quiq's financial standing, thereby providing the necessary leeway for pursuing strategic objectives.
The revolving credit facility illustrates the strong confidence that institutional partners have in Quiq's lending operations and provides essential resources that will empower the firm to capitalize on various growth opportunities. Thomas X. Geisel, Senior Executive Vice President of Commercial Lending at Dime Community Bank, echoed this sentiment, affirming that the bank aims to provide flexible capital solutions that align with the strategic goals of its clients. He remarked, "Supporting the achievement of Quiq's business strategy with a flexible capital solution is the partnership we strive for with our clients."
Quiq Capital LLC operates as a private credit lender, focusing on generating high-value, risk-adjusted investments. The firm is dedicated to fueling the growth of lower middle market businesses through tailored financial solutions. By harnessing private capital and structured lending, Quiq addresses the funding gaps that have emerged due to the longstanding trend of bank consolidation and the subsequent decline in lending to lower middle market enterprises. This focus has become increasingly crucial, particularly in a business landscape where access to funding remains paramount for many small and medium-sized enterprises.
With more than $14 billion in assets, Dime Community Bancshares, the holding company for Dime Community Bank, has actively established itself as a significant player in the banking sector of New York State. Notably, it holds the top deposit market share among community banks in Greater Long Island. This collaboration with Quiq Capital showcases Dime's commitment to fostering strong relationships with its clients while providing innovative financial solutions.
As Quiq Capital embarks on this new chapter marked by financial empowerment, the potential for expanding its lending platform and enhancing its market position appears highly promising. Strong partnerships such as this one not only highlight the trust placed in Quiq's capabilities but also emphasize the ongoing need for flexible financing options that can prepare businesses for future challenges.
With this credit facility now in place, Quiq is well positioned to navigate the evolving financial landscape and pursue new growth avenues in an increasingly competitive market. The collaboration with Dime Community Bank represents a pivotal milestone in Quiq's mission to support businesses in their journey toward success, ultimately fueling economic growth and innovation in the broader market.
Topics Financial Services & Investing）
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