KBRA Assigns Preliminary Ratings to Kapitus’ Fifth Securitization

Kroll Bond Rating Agency assigned preliminary ratings to four classes of notes issued by Kapitus Asset Securitization II LLC, Series 2022-3. This transaction is the fifth securitization for Kapitus, formerly known as Strategic Funding Source.

Kapitus will use the proceeds of the sale of the notes to purchase receivables, fund the reserve account and pay related fees and expenses. The notes are “expandable” term notes such that at any time during the revolving period, the Issuer may periodically issue additional notes, up to a maximum amount of $500 million, as long as certain conditions are met, including receipt of rating agency confirmation.

Founded in 2006, Kapitus is a specialty financial services and technology company that uses its proprietary risk scoring model, transactional data, technology systems and platforms to provide capital to small and medium-sized businesses.