CBL Announces the Closure of Seven New Loans
Bala Cynwyd, Penn. – Context Business Lending, LLC (“CBL”) a family office-backed leading, national asset-based lender becoming increasingly well known for disrupting the Asset Based Lending market, announced today the closing of seven (7) new revolving lines of credit over the last five months. These recent closings included a recent $20MM line to Universal Metals (“Universal”) and parent company, Northwestern Holding Company (“Northwestern”) Tommy Hagan, Chief Financial Officer of Universal, noted his satisfaction with his experience working with CBL saying, “We’ve been pleasantly surprised from our introductory call through our first month with Context how easy-going, flexible, and creative everyone has been. It has been refreshing to say the least. From our family company to theirs we really look forward to working with and growing our companies with a lender who walks-the-talk!!”
In addition to striving to be the “New School ABL” leader in the market by incorporating technology throughout its business, CBL prides itself on its customer service. Meredith Carter, President and CEO of Context said, “as soon as our loan documents are signed, we think of our borrowers as our outside partners. Excellent customer service, from early diligence calls through borrower relationships, is extremely important to us. We are literally invested in our borrowers’ success and want them to feel like a part of our CBL family. Our creative team and private capital structure allow us the flexibility to offer our borrowers bespoke solutions and continue that flexibility as the needs of our borrowers change over time.”
As a veteran customer of ABL, David Feniger, Chief Operating Officer of Universal, appreciated the CBL customer service distinction firsthand. “The experience with Context Business Lending has been the best I have had with any lending institution.” Feniger said. “From the initial introductory phone conversation to the closing of the facility the team at Context showed us how they are your partner and not just a lender. This partnership has continued to be there and the entire group at Context is all on that page of partnership. We have been excited since that initial call about the partnership and the growth opportunities that Context will be able to afford our organization in the coming years.”
Context has made significant strides in their goal to, “disrupt” the Asset Based Lending industry, recently being named to ABFJournal’s Top 25 Most Innovative Companies in Commercial Finance, and the selection of their President and CEO, Meredith L. Carter to Secured Financial Network’s Top 40 Under 40. CBL continues to break antiquated traditions in the asset-based lending space recently launching an eCommerce sub-focus, and looking outside the traditional box that many in the ABL space are confined to.
About Context Business Lending, LLC
Context Business Lending is a leading, national asset-based lender focused on providing flexible working capital for lower middle market businesses that do not qualify for traditional bank financing. During this period where COVID-19 is having a profound impact on working capital needs of many businesses, Context Business Lending is increasingly flexible and continuing to take a holistic view of a businesses’ challenges and opportunities. Context Business Lending is sector agnostic and works with businesses in the manufacturing, distribution, wholesaling, consumer products, e-Commerce and service industries. To learn more, please visit www.ContextBL.com.
Context Business Lending is a subsidiary of Context Capital Partners, LP, www.ContextCP.com, an alternative specialist company that allocates capital to talented investment manages and whose subsidiaries offer a diverse range of investment strategies including hedge funds, liquid alternative mutual funds, and private equity funds.