US lender Dwight Funding bags $100m credit facility
Dwight Funding, a New York-based lender for brands and platforms, has secured a $100 million asset-based revolving credit facility from IDB Bank.
Ben Brachot, co-founder of Dwight, says the facility will support the company’s growth and allow it to invest further in its proprietary technology and improve its lending experience.
Established in 2015, Dwight Funding provides asset-based lending and equipment financing to early and growth-stage businesses in e-commerce, food and beverage, consumer packaged goods and Software-as-a-Service (SaaS).
It provides companies with revolving lines of credit and term loans to cover working capital and capital expenditure needs that come with rapid growth.
Based in Manhattan, New York, IDB Bank was the sole lead arranger and administrative agent for the credit facility.
It offers a full-service lending platform for personal and commercial banking, trade services and deposit products to US-based and international clients. It has branches across the US and representative offices in Latin America and Israel.