able fuels in the U.S.,
acquired Illinois Corn
Processing for $76 million, including $15 million in working capital.
Wells Fargo expanded
the company’s line of
credit from $85 million
to $100 million to support the transaction.
Deutsche Bank Agents
$625MM Tesla Upsize
Tesla amended its
ABL credit agreement
with Deutsche Bank
New York Branch as
and collateral agent. The
the revolving commitments by $625 million.
Encina Provides $25MM
Revolver to Government
Encina Business Credit
provided a $25 million
ing credit facility to a
company based in the
Mid-Atlantic region. The
lion credit agreement
with the First Internet
Bank of Indiana. The
agreement provided a
$4.5 million term loan,
which was used to
satisfy the company’s
outstanding indebtedness with Huntington
Bank, and a revolving
line of credit of up to $2
million, from which the
company may borrow
from time to time.
Monroe Capital Provides
$30MM ABL to Arhaus
Monroe Capital acted
as sole lead arranger
and administrative agent
for a $30 million asset-based facility for general
and working capital
for Arhaus,a home
Wells Fargo Supports
Illinois Corn Buy
Pacific Ethanol, a
producer and marketer
of low-carbon renew-
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INDUSTRY NE WS
AMAZON PROVIDES MORE THAN $3B
SMALL BUSINESS LOANS
AMAZON LENDING has surpassed $3 billion in small business
loans to date since the program launched in 2011. Amazon
Lending offers short-term business loans, for up to 12 months,
to invited micro, small and medium businesses selling on Amazon to help them grow their business.
“We created Amazon Lending to make it simple for up-and-coming small businesses to efficiently get a
business loan, because we know that an infusion of capital at the right moment can put a small business
on the path to even greater success,” said Peeyush Nahar, vice president for Amazon Marketplace. “Small
businesses are in our DNA. Amazon is providing capital to small businesses to help them expand inventory
and operations at a critical period of their growth. We understand that a small loan can go a long way.”
Facts about Amazon Lending:
• In the last 12 months, Amazon has lent more than $1 billion to small businesses.
• More than 20,000 small businesses have received a loan from Amazon.
• More than 50% of the small businesses to which Amazon lends take a second loan from Amazon.
• Amazon has issued loans to small businesses across the U.S., UK and Japan.
• Invited small businesses are able to apply for loans ranging from $1,000 to $750,000.
Half of the items sold on Amazon worldwide are from small businesses that offer their products through
Amazon Marketplace, many of which also choose to use Fulfillment by Amazon as a way of making their
items Prime eligible. Small businesses and entrepreneurs selling on Amazon come from every state in the
U.S. and more than 130 different countries around the world. Amazon began inviting small businesses to
sell on Amazon to increase selection and ensure customers could find and discover anything they wanted
to buy online.
“Traditional funding vehicles wouldn’t support our model of direct to consumer and we needed help.
Amazon stepped in and is a great partner for us. The loans from Amazon Lending enabled us to expand
inventory and resulted in us having a very strong and successful 2016,” said Caleb Light, vice president of
Sales for Power Practical, in Salt Lake City. n See related FinalCut on page 44.