Texas Capital Provides $20MM Revolving Line of Credit to Bolton Capital
Bolton Capital, a niche specialty finance company providing working capital solutions to the bulk hauling and transportation industry, today announced the closing of a new $20 million revolving line of credit led by Texas Capital. This financing will augment Bolton's equity base to support working capital origination volume in the large U.S. construction transportation market. With the new credit facility, Bolton Capital is well-positioned to execute immediate market opportunities by expediting funding of their haulers’ receivables and partnering in their long-term growth.
“We are very excited about our new relationship with Texas Capital. This new facility will allow Bolton to continue meeting our clients’ need for capital to compete in the large construction transportation market by accelerating cash flow by up to 60 to 90 days. Our proprietary underwriting technology, decades of industry knowledge, and funding capabilities bring unmatched growth opportunities to underserved dump truck owners and operators. We are excited about the value we will deliver to both our clients and general contractors on both government and private projects,” Douglas Lindsay, Managing Partner of Bolton Capital.
“We are pleased to secure this initial debt capital for Bolton Capital to fund its innovative business model in the bulk hauling space,” Steven Katz, Managing Director, Commercial Lender Finance at Texas Capital, said. “Through customized financial, treasury and advisory solutions, Texas Capital is proud to deliver substantial value to our clients at every stage of their business lifecycles.”
About Bolton Capital
Bolton Capital specializes in working capital solutions for the bulk hauling industry. Our program is built for dump truck, waste, agriculture and energy haulers. We offer best in class technology, fast approvals, same-day funding, and flexible options to keep cash flow steady. Bolton’s only focus is helping haulers grow their fleets, take on more work, and get paid without the wait. To learn more, visit www.bolton-capital.com.
About Texas Capital
Texas Capital Bancshares, Inc. (NASDAQ®: TCBI), a member of the Russell 2000® Index and the S&P MidCap 400®, is the parent company of Texas Capital Bank (“TCB”). Texas Capital is the collective brand name for TCB and its separate, non-bank affiliates and wholly-owned subsidiaries. Texas Capital is a full-service financial services firm that delivers
customized solutions to businesses, entrepreneurs and individual customers. Founded in 1998, the institution is headquartered in Dallas with offices in Austin, Houston, San Antonio and Fort Worth, and has built a network of clients across the country. With the ability to service clients through their entire lifecycles, Texas Capital has established commercial banking, consumer banking, investment banking and wealth management capabilities. All services are subject to applicable laws, regulations, and service terms. Deposit and lending products and services are offered by TCB. For deposit products, member FDIC. For more information, please visit www.texascapital.com.