Fundation Raises $120M Asset Backed Credit Facility from SunTrust Bank

Fundation, a NYC-based digitally-enabled lender and credit solutions provider, secured a $120m asset backed credit facility from SunTrust Bank (NYSE: STI).

Waterfall Asset Management was included in the facility as a Class B lender.

This additional credit facility further enhances Fundation’s capacity to extend credit to small businesses across the United States.

Led by Sam Graziano, CEO, Fundation focuses on delivering credit to small businesses through various forms of strategic partnerships, including banks, other financial institutions, and various service providers to the small business market.
The company, , majority-owned by New York based private equity firm Garrison Investment Group, currently has strategic partnerships with Regions Bank, Citizens Bank, the BancAlliance network of community banks, the Minority Business Development Agency and a host of other partners.
It performs origination services for regional and community banks as well as originates small business loans and lines of credit for its balance sheet.

Fundation maintains a separate $120 million asset backed credit facility with Goldman Sachs Bank USA which was secured in August of 2016, and a $35 million facility with MidCap Financial which was secured in March of 2017.



Join the discussion