- CIT, a division of First Citizens Bank, has announced that the Specialty Finance unit of its Asset-Based Lending business provided $100M in financing to Stonegate Capital.
- Stonegate Capital, headquartered in Chicago, is a wholly owned division of SG Credit Partners.
- The financing replaces an existing facility and will enable Stonegate to continue its strong history of providing credit facilities ranging from $2M to more than $15M to the branded consumer vertical, as well as other traditional ABL markets.
- "Stonegate is poised for growth and has a proven ability to develop a well-structured portfolio," said Chris Esposito, managing director and group head for CIT's Asset-Based Lending business.
For further details see:
CIT provides $100M in financing for Stonegate capital