Tiger Finance Posts Strong Lending-Platform Growth in Q1 2024

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Apr 02, 2024, 08:33 ET

Challenged specialty and apparel retailers top borrower list during busy first quarter

NEW YORK, April 2, 2024 /PRNewswire/ -- Tiger Finance's lending platform continued to grow in the first quarter ended March 31, providing $102 million in financing to retail and other borrowers across North America.

"Women's specialty apparel retailers, in particular, continue to be challenged and face pullback from national banks, which generally have a lower appetite for credit risk in the current environment," noted Bob DeAngelis, Executive Managing Director/Group Head, Tiger Finance.

Significant deals from Tiger Finance's busy Q1 included providing $7 million to an EV battery technology company; $20 million to a women's apparel retailer; $40 million to a specialty retailer, and $35 million to a musical instrument retailer.

Tiger Finance continues to expand and grow its lending platform, especially among middle-market borrowers, DeAngelis noted. Tiger Finance is a stretch asset-based lender, advancing against working capital, machinery and equipment, fixtures, real estate and intellectual property across a broad range of industries. Tiger Finance provides first lien, second lien, and split-lien facilities, typically structured as term debt.

Tiger Finance is a division of Tiger Capital Group, which specializes in the provision of secured debt financing and equity investments, as well as comprehensive appraisals for the ABL industry and the disposition of consumer and industrial assets.

Media Contacts: At Jaffe Communications, Elisa Krantz, (908) 789-0700, [email protected]

SOURCE Tiger Group