Marquette Business Credit has acquired US$87.5m in revolving credit and term loan facilities from Capital Factors. The sale by Capital Factors of a portion of its asset-based loan portfolio is consistent with Capital's earlier announcements that it will be focusing on its core Factoring and TempFunds businesses.
The acquisition by Marquette is significant because it increases the size and scope of the loan portfolio for Marquette Business Credit and for Minneapolis-based Marquette Financial Companies. With the acquisition, Marquette Business Credit now has US$97.5m in credit facilities. Combined with its other commercial finance businesses, Marquette Financial now has US$385m in loans outstanding.
