Pasadena Private Lending Boosts Funding to Over $350 Million with KeyBank Partnership

Pasadena Private Lending Expands Capital Base to Over $350 Million with New Credit Facility from KeyBank

In a significant development for the lending market, Pasadena Private Lending, Inc. (PPL) has announced a new agreement with KeyBank that will expand its capital base to exceed $350 million. This initiative comes at a critical time as demand for financial resources among entrepreneurs continues to rise. The agreement includes a $150 million credit facility that can be expanded up to $300 million.

Meeting the Needs of Entrepreneurs

Michael McAdams, the President of PPL, expressed the excitement surrounding this new partnership, stating that this milestone is pivotal in the company’s mission to provide innovative lending solutions to successful entrepreneurs throughout the nation. The company has identified a growing demand from business owners within the lower middle market—an area often overlooked by traditional financial institutions. By enhancing their capital base, PPL aims to offer timely and flexible financing options while maintaining their high underwriting standards.

The loans offered by PPL range from $2 million to $15 million, targeting a variety of industries and circumstances. As the company grows, their capacity to cater to clients' needs increases, allowing them to continue supporting businesses that are essential to the U.S. economy.

Strategic Insights from Leadership

Iain Whyte, Chairman of PPL, emphasized the significance of their relationship with KeyBank, revealing that it underscores market trust in PPL's approach and record. His confidence is evident as he mentions their reputation as creative yet disciplined lenders who endeavor to genuinely understand borrowers’ businesses and provide tailored solutions. This partnership is seen not just as a financial agreement, but as a testament to the competence and commitment of PPL in navigating the diverse lending landscape.

Christopher Tucker, Managing Director at KeyBank, remarked on the potential impact of this partnership. He noted that this facility paves the way for the next generation of private credit solutions while mirroring KeyBank's mission to align with values that support entrepreneurs. He echoed McAdams’ sentiment regarding the essential role that small businesses play in the economy, signaling that the institution is eager to support PPL in its growth.

A Focus on Unmet Needs

With new funding available, PPL is poised to broaden its national lending platform while addressing the unmet needs of underrepresented sectors in the lower middle market. This is crucial as many of these borrowers often struggle to secure financing from more conventional lenders. The collaboration with KeyBank not only provides the necessary financial backing but also reflects a shared commitment to uplifting this segment of the entrepreneurial community.

GreensLedge Capital Markets has played an advisory role throughout this refinancing process, guiding PPL on the necessary strategic steps to enhance their lending capabilities successfully.

About Pasadena Private Lending

Pasadena Private Lending, Inc. specializes in providing senior secured loans specifically designed for successful business entrepreneurs across the U.S. Drawing from an expert team of former banking professionals, PPL delivers reliable and adaptable lending solutions. Their approach is always client-focused, rooted in robust underwriting practices that empower business owners to meet their growth and liquidity goals.

For those interested in staying informed about PPL’s developments, the company encourages subscriptions to their monthly publication, Private Credit Insights, available on their website (www.pasadena-private-lending.com).

Conclusion

With the recent expansion made possible through their partnership with KeyBank, Pasadena Private Lending stands prepared to enhance its offerings and support the resilient entrepreneurs who contribute significantly to the economy. As they continue to scale operations, PPL is committed to providing flexible and reliable financing solutions that meet the evolving needs of American businesses.