NXT Capital ramps up financing for growth

Chicago-based NXT Capital has announced that its equipment finance group has increased its revolving credit facility from $150 million to $325 million in order to provide additional financing to support the growth of its equipment loan and lease portfolio.

“NXT has built a strong reputation as a reliable and creative source of equipment financing for leveraged public or sponsor-owned companies,” said Michael Gay, senior managing director and group head of NXT Equipment Finance. “The recent upsizing further enhances our ability to support the future equipment financing needs of both new and existing clients.”

NXT Capital Equipment Finance offers a full range of flexible financing solutions to middle-market companies and larger non-investment grade corporates nationwide. The group provides loans and leases up to $40 million to finance new and used equipment for companies with revenues of $100 million and above across most industries.

BMO Capital Markets Corp. and KeyBank National Association acted as joint lead arrangers for the recent credit facility increase, which also saw NXT receive new lender commitments from Royal Bank of Canada, EverBank Commercial Finance, Capital One, N.A. and The Huntington National Bank.