RESTON, Va., Jan. 16, 2024 /PRNewswire/ — Blue Bridge Financial, Inc. (“Blue Bridge” or the “Company”), a leading independent commercial equipment finance company, closed its first asset-backed securitization in the amount of $124.8 million. Blue Bridge Funding 2023-1 includes four classes of notes and is backed by 2,156 secured loans. The transaction was significantly oversubscribed with 19 different investors participating.
Blue Bridge has funded more than $800 million to over 9,000 businesses in 30+ industries across the U.S., since inception. Blue Bridge originates through two channels; referrals from broker and other independent sales organizations (broker/ISO) and, more recently, directly to end users and vendors (vendor/direct).
“We are proud to announce the closing of our first ABS transaction,” said Blue Bridge Financial Chief Executive Officer Steve Dervenis. “We are very appreciative of the support we received from the investor community. Having the breadth and depth of investors in this inaugural issuance is testament to our platform and what we are building at Blue Bridge. We would like to thank the Truist Securities team, and all involved for their efforts”.
Truist Securities acted as the Company’s Sole Structuring Agent and Sole Bookrunner on the transaction.
About Blue Bridge
Blue Bridge Financial, Inc. is an independent specialty finance company providing small and medium-sized businesses with secured loans and leading provider of commercial financing solutions for small business borrowers as well as manufacturers, vendors, and distributors of commercial equipment. The Company is headquartered in Reston, Virginia, with an additional office in Irvine, CA. To learn more about Blue Bridge, visit www.bluebridgefinancial.com .
Contact:
Hannah Phearsdorf
Senior Vice President | Finance and Accounting
[email protected]
716-204-8468
SOURCE Blue Bridge Financial, LLC
