Finova Capital, LLC closes on a $30 million senior credit facility

ROCHELL PARK, N.J., April 17, 2024 /PRNewswire/ -- Finova Capital, LLC recently closed on a senior credit facility with a major specialty lender. The $30 million facility will be used to originate new equipment leases. Bob Neagle, CEO of Finova, noted that the "addition of the new facility will allow us to finance even more equipment for our existing vendor partners, as well as support the growing number of clients added to our family of customers every month."   

"We appreciate another lender's confidence in our embedded lending platform," said Dave Gilbert, CEO of National Funding, the majority owner of Finova Capital. "The new facility will allow Finova to be a catalyst for even more businesses to grow and thrive."

About Finova Capital
Finova Capital, majority owned by National Funding, Inc, is headquartered in Rochell Park, NJ, and provides a wide range of customized, embedded financing programs to its clients.  Programs include a variety of equipment financing options as well as working capital solutions. To learn more about Finova Capital, visit https://www.finovacapital.com.

About National Funding
Founded in 1999, National Funding is a leading U.S. specialty finance company serving small- and medium-sized businesses. The company serves American small business owners by providing funding solutions to meet their needs to re-invest in their day-to-day operations and help them grow. National Funding offers an online application process that allows business owners to get approved for funds in as little as 24 hours. For more information about National Funding, visit https://www.nationalfunding.com.

Number of employees: 273

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SOURCE National Funding