World Business Lenders Secures a New USD $30 Million Facility from Consortium of Asia-based Investors

JERSEY CITY, N.J., May 14, 2018 /PRNewswire/ -- World Business Lenders (WBL), a leading provider of working capital to small businesses across the United States, announced today that it has secured a new multi-draw credit facility to supplement its facilities with other institutions. The lender to this facility is a Cayman Islands fund established for this purpose by a consortium of Asian banks and investors. The initial commitment of USD $30mm is anticipated to be fully drawn during the current quarter, and WBL expects to upsize the facility to as much as USD $100mm by 2019.  WBL will utilize this facility to support the ongoing growth of its secured loan portfolio, and other business loan products.

"The annual interest rate under this facility and the advance rate are both marked improvements over the terms of similar facilities currently maintained by WBL.  This will immediately improve WBL's income statement and balance sheet, respectively," said Robert Pardes, Chief Operating Officer of WBL. "Not only is this another milestone in the diversification of WBL's access to liquidity, this reaffirms increasingly broad institutional acceptance of our proprietary product and market leading servicing platform," continued Pardes.

"This transaction demonstrates desirability, even with cross-border investors, of WBL's well-structured, proprietary business loan product. WBL's veteran management and underwriting team has created an exciting new secured asset class for investors," said Matthew Yoon, Managing Director and Head of Asia at Pi Capital International LLC, which advised WBL in the transaction. 

About World Business Lenders
Based in Jersey City, New Jersey, World Business Lenders (www.wbl.com) is a lender and service provider specializing in facilitating real estate-secured business loans and access to capital to support the growth and development of underserved small-to-medium sized businesses that lack access to traditional funding. Also, WBL brokers and syndicates merchant cash advance, leasing, Small Business Administration and other naturally related business loan products. WBL is led by a strong management team with extensive experience in the financial services industry, and employs a disciplined approach to credit analysis and risk management.

About Pi Capital International LLC
Pi Capital provides financial advisory services to corporations, governments and financial sponsors enabling its clients to make and execute the strategic decisions needed for success in domestic and global markets. Pi Capital's services include advising on mergers and acquisitions, recapitalizations and restructurings, and raising private capital. Pi Capital's team consists of experienced international bankers, familiar with cross-border complexity and cultural nuances, delivering transaction, sector and product expertise. Pi Capital offers access to alternative investment and non-traditional pools of capital. Today, Pi Capital focuses on the financial institutions, industrials, automotive and energy sectors. All regulated activities are conducted through Marco Polo Securities Inc. (member FINRA/SIPC).

Further information on Pi Capital International LLC is available at www.picapital.global.

Media Contact: Rachel Robinson, 347-745-6448, [email protected]

SOURCE Pi Capital International LLC