Valley Bank closes US$130m asset-based revolving credit for Access Capital


Valley National Bank, the wholly-owned subsidiary of Valley National Bancorp (NASDAQ:VLY), announces the closing of a $130 million senior revolving credit facility to Access Capital, Inc. a commercial lender to the staffing industry. The three year facility includes a $30 million accordion feature to upsize as the Company grows. Valley is the Administrative Agent, Sole Lead Arranger, and Sole Bookrunner for the deal. Valley Specialty Finance offers a variety of products and services including working capital lines of credit, in-house trade finance, cash management, and syndications.


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Posted on Nov 16, 2023
Region: USA
asset based lending
Valley National Bank, Access Capital, Douglas Meyer, Terry Keating