2026 Assembled Brands - Asset-Based Lending | Lender Scouting report and Stats

Apex Conference – Raptors Division

Explore the benefits of Assembled Brands for your financing needs

Website: https://www.assembledbrands.com/resources/asset-based-lending-for-consumer-product-brands-non-dilutive-growth-capital
LinkedIn: https://www.linkedin.com/company/assembledbrands/

🏀 2026 SEASON (CURRENT)

Lender Name	Total Points	Deals Logged	Volume Drafted	Primary Asest Focus	Most Common Loan Term	Primary Loan Type	Top States	Pace Score	Wins	Losses
Bank OZK	98	5	$853,100,000	Condo (3), Multifamily, Industrial	Construction loan (5)	Construction (5)	Florida (2), Pennsylvania, New York, California	0.33	2	TBD
European Investment Bank	85	4	$925,520,000	Industrial/Biorefinery, Shore Power Infrastructure, EV Charging Infrastructure, Wind Farm	15 years (1)	Construction (2)	Italy, Netherlands, Estonia, Spain	0.27	TBD	TBD
Mitsubishi UFJ Financial Group (MUFG) - Commercial RE	265	13	$3,930,177,778	Solar (4), Geothermal (2), BESS/Storage (2)	Construction-to-term / Non-recourse senior secured	Construction (8)	Louisiana (3), Utah (2), Chile, Japan, Spain, India	0.87	1	TBD
Wells Fargo - Commercial RE	571	24	$6,392,550,000	Office (7), Industrial (5), Multifamily (5), Mixed-Use (3), Hotel/Casino, Data Centers, Energy/LNG, Retail	5-year fixed-rate (3); 2-year floating-rate (2), floating-rate (2), construction loan (2)	Refinance (12), Acquisition (4), Construction (4), Bridge (2), Credit Facility, CMBS Refinance	New York (12), Texas (2), California (2), Virginia (2), Florida (2), Illinois (2)	1.5	1	1
Bank of Montreal (BMO) - Commercial RE	171	9	$1,329,000,000	Industrial (5), Multifamily (2), Data Centers, Retail	2-year floating-rate (2); construction loan (1), fund-level revolving (1)	Acquisition (4), Refinance (3), Construction, Credit Facility	Georgia (3), Florida (2), Virginia, New Jersey, Nevada, Texas	0.56	1	TBD
Deutsche Bank - Commercial RE	244	12	$2,726,870,000	Office (7), Multifamily (2), Energy/LNG, Hotel, Life Sciences	5-year fixed-rate (2); 2-year floating-rate (1), construction financing (1), CMBS conduit (1)	Refinance (8), Construction (2), CMBS Refinance	New York (5), California (2), Ireland, Washington, Delaware, Louisiana	0.75	1	TBD
First Citizens Bank - CRE	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
JP Morgan - Commercial RE	445	22	$7,051,238,096	Office (6), Industrial (3), Multifamily (2), Mixed-Use (2)	5-year, fixed-rate (3)	Refinance (5), CMBS for Refinance (5), Construction (4), Acquisition (4), Bridge for Refinance, Senior Loan + Mezzanine, Revolving Credit Facility	New York (6), Texas (2), California (2), Florida (2), Pennsylvania (2), Louisiana	1.31	3	TBD
Sumitomo Mitsui Banking Corporation (SMBC) - Commercial RE	147	4	$1,004,790,000	Energy Infrastructure (3: geothermal, HVDC, BESS), Data Centers, Multifamily, Renewable Energy	Green loan (1), construction-to-term (1), floating-rate (1)	Construction (5), Refinance	Japan, Canada, India, Portugal, New York, Utah	0.38	1	1
BNP Paribas	68	4	$521,481,762	Industrial, Agrivoltaic/BESS, Solar PV/BESS, Retail/Mall	2-year floating-rate (2)	CMBS for Refinance (2), Commercial Real Estate (2)	Italy, Chile, Florida, California, Georgia, Texas	0.25	TBD	TBD
Citigroup - Commercial RE	209	11	$2,190,404,762	Industrial (3, incl. Data Centers), Office (3), Multifamily (2), Retail (2)	5-year (3)	CMBS for Refinance (5), Refinance (3), Acquisition (2)	Florida (4), New York (3), Georgia (3), Texas (2), Virginia, Arizona	0.69	1	TBD
Morgan Stanley - Commercial RE	204	10	$3,832,443,333	Retail (3), Office (2), Industrial/Data Center (2)	2-year floating-rate with extension options (3)	Refinance (5), CMBS for Refinance (2), CMBS for Acquisition	New York (3), Virginia (2), Texas (2), Multiple States, Ireland	0.63	3	TBD
Santander Bank - Commercial RE	146	6	$1,168,871,633	Solar/BESS/Energy Storage (7), Multifamily (2)	Construction (4)	Refi (1), Construction (8)	Chile, Portugal, Peru, United Kingdom, California, Texas	0.56	1	1
Truist Bank - Commercial RE	64	4	$283,000,000	Multifamily (4)	N/A	Permanent loan, Construction (2), Refi	New Jersey, New York (2), D.C.	0.5	1	1
Bank of America - Commercial RE	307	14	$2,971,404,762	Office (5), Industrial (3), Energy/Geothermal (3), Retail (2)	2-year floating-rate (3)	Construction (4), Refinance (3), CMBS for Refinance (3), Acquisition (2)	New York (4), Florida (2), Virginia (2), Texas (2), California (2), Utah (2)	0.88	3	TBD
Goldman Sachs - Commercial RE	347	17	$3,862,750,000	Office (6), Mixed-Use (2), Hotel (2), Industrial (2), Retail (2)	5-year, fixed-rate (4)	CMBS for Refinance (6), Refinance (5), Construction (2), Revolving Credit Facility	California (3), New York (3), Virginia (3), Florida (2), Texas, Louisiana	1.06	2	1
ING Groep NV - Commercial RE	168	9	$1,597,212,833	Energy/Solar (6), Energy Storage (2), Office (1)	Non-recourse senior secured credit facilities (2); Construction-to-term (2)	Construction (7), Construction and Term (1), Refinance (1)	Louisiana (2), Pennsylvania, California, Texas, Italy, Romania	0.56	1	TBD
KeyBank	79	5	$768,200,000	Energy/Solar (3), Energy Storage (1), Senior Living (1)	7-year fixed (1 — Brookdale); Construction-to-term (1 — rPlus)	Construction (3), Refinance (2)	Idaho (2), Colorado	0.31	TBD	TBD
Natixis - Commercial RE	107	5	$1,693,166,667	Energy/Solar (2), Energy Storage (2), Energy/LNG, Retail	Construction-to-term / senior secured facilities (2)	Construction (4), Refinance	Texas, California, New York, Louisiana, Peru	0.31	TBD	TBD
Barclays - Commercial RE	175	11	$1,919,601,429	Industrial/Data Center (2), Office (2), Energy (2), Mixed-Use/Retail (2), Multifamily (2)	5-year (3)	Refinance (4), Acquisition (3), Construction (2)	Virginia (2), Louisiana, Utah, Pennsylvania, Maryland, United Kingdom	0.69	1
ACORE Capital	19	1	$160,000,000	Industrial	2-year floating-rate; 3×1-year extensions	Bridge	Texas, Maryland, Georgia, Pennsylvania, Illinois, Arizona	0.07	TBD	TBD
Affinius Capital	84	8	$921,628,000	Multifamily (6), Office, Student Housing	Floating-rate	Refinance (5), Acquisition (2), Construction	New York (3), Pennsylvania (2), California, Florida, United Kingdom	0.53	1	TBD
Barings	67	3	$861,400,000	Mixed-Use (Hotel to Residential Conversion), Mixed-Use (Retail + Condominium), Industrial	N/A	Construction (2), Refinance	New York, California, Tennessee	0.75	TBD	1
Brookfield	37	2	$739,000,000	Multifamily (2)	Three-year bridge (only stated term)	Refinance, Bridge	New York (2)	0.13	TBD	TBD
S3 Capital	24	2	$78,750,000	Mixed-Use Residential, Multifamily	TBD	Construction (2)	New Jersey, South Carolina	0.13	TBD	TBD
Berkadia	27	2	$110,942,000	Multifamily (2)	Freddie Mac	Acquisition (2)	Virginia, Wisconsin	0.5	TBD	TBD
Dwight Capital/Dwight Mortgage Trust	121	8	$497,500,000	Multifamily (6), Mixed-Use, Condo	HUD 221(d)(4) (2), HUD 223(f) (2)	Refinance (4), Construction (3), Bridge	New York (2), New Jersey (2), Texas, Florida, Utah, California	0.53	2	TBD
Greystone	92	6	$482,374,222	Multifamily (6)	24-month bridge with extension options (2)	Bridge for Refinance (2), Refinance (2), Acquisition, Construction/Rehabilitation	Illinois (2), North Carolina (2), New York, Mississippi	0.38	4	TBD
Madison Realty Capital	49	6	$703,550,000	Condominium (3), Hotel/Mixed-Use, Multifamily, Self-Storage	Construction completion 2027-2028 (2)	Construction (3), Condominium Inventory Loan, Bridge for Refinance, Acquisition	New Jersey (2), New York, Florida, Tennessee, Multiple States	0.38	1	TBD
Nuveen	99	7	$1,144,600,000	Multifamily (5), Office/Lab, Hotel	C-PACE (Full stack capitalization), 5-year floating-rate loan	C-PACE for construction (4), C-PACE for refinance, Acquisition (permanent financing)	Texas (2), Florida, Arizona, Pennsylvania, Philadelphia, D.C. (2)	1.16	1	1
Blackstone - Commercial RE	58	2	$10,223,000,000	Industrial, Data Center	Bridge Loan	Acquisition, Construction	Gerogia, Florida, New Jersey, Texas, Pennsylvania, Australia	0.33	TBD	TBD
Corebridge	12	1	$46,000,000	Multifamily (Mixed-Use)	5-year; nonrecourse; interest rate in low 5% range	Refinance	New York	0.125	TBD	TBD
MonticelloAM	69	5	$312,800,000	Healthcare (Skilled Nursing) (5)	Bridge loan (3), 36-month (2) + 2x 6-month ext	Refinance (2), Acquisition (3)	Florida, Illinois (2), South Carolina, Pennsylvania	0.625	3	TBD
Peachtree Group	54	4	$181,400,000	Hotel (2), Multifamily, Film Studio	C-PACE, 3-year bridge loan, 3-year floating-rate	C-PACE for construction, Construction (2), C-PACE for Refi	North Carolina (2), Ohio, Georgia	0.57	1	TBD
Tyko Capital	29	1	$410,000,000	Condominium	TBD	Construction	Florida	0.25	TBD	TBD
Apollo Global Management	147	6	$2,476,480,000	Industrial, Office, Multifamily (Conversion), logistics, industrial , Hotel	Senior secured financing across three separate loan facilities, Floating-rate debt, 36-month SOFR floating; Mezzanine fixed	Bridge for refinance, Construction (3), Refinance, Acquisition	New York (3), North Carolina, UK, Germany, Netherlands, Spain, Ireland, Poland	0.75	2	1
Ares Real Estate Management	52	2	$1,550,000,000	Casino/Entertainment, Multifamily	TBD	Construction, Refinance	New York (2), Illinois	0.33	TBD	TBD
New York Life	12	1	$35,700,000	Retail	5-year term with interest-only payments for full term	Bridge for refinance, Construction (2), Refinance	California	0.25	TBD	TBD
PGIM Real Estate	64	3	$549,435,000	Industrial, Mixed-Use, Retail (grocery)	Fixed and floating rate components	Acquisition, Refi (2)	Florida, California, Texas, Massachusetts, Germany	0.375	2	1
Starwood Property Trust	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Deutsche Bank - Growth Cap	41	2	$3,015,000,000	TBD	Revolving credit facility	Acquisition, Working Capital	Spain, Switzerland	0.5	TBD	1
HSBC	67	3	$2,003,000,000	TBD	MIGA-guaranteed; Climate-linked conditions, 95% covered buyer credit guarantee, Put option arrangement with exit path in three years with certain returns	Growth Capital	Chile, France, Sweden	0.6	TBD	TBD
JP Morgan - Growth Cap	175	11	$6,068,250,000	TBD	4-year loan with 2 6-month extension, SOFR plus 77.5 bps & 15 bps facility fee, Term loan (3 year loan with 1-yr extension & SOFR plus 85 bps), 2 years with three 1-year extension options, Revolving facility due February 2030 with two six-month extension options, 7-year Term Loan, 5-year revolving credit facility	Revolving Credit Facility (2), Senior Secured Revolver (3), Acquisition Credit Facility, Unsecured Term Loan (2)	New York (2), Texas (2), New Jersey, Illinois (2), California (2), Canada	1.375	2	1
Natixis - Growth Cap	15	1	$1,500,000,000	TBD	Three-year construction warehouse revolving credit facility with $500M accordion	Construction Warehouse Revolving Credit Facility	Texas	0.2	TBD	TBD
PNC Bank	102	7	$4,250,000,000	TBD	4-year loan with 2 6-month extension-SOFR plus 77.5 bps & 15 bps facility fee, Term loan (3 year loan with 1-yr extension-SOFR plus 85 bps), 5 years-matures 1/15/2031-SOFR + 1.15% to 1.65% depending on leverage, Three-year construction warehouse revolving credit facility with $500M accordion	Revolving Credit Facility, Five-Year Unsecured Term Loan, Unsecured Term Loan (5), Construction Warehouse Revolving Credit Facility	New York, Washington, Illinois (2), Texas, Florida, California	1.4	1	TBD
Bank of America - Growth Cap	49	3	$4,938,250,000	TBD	4-year loan, 4-year loan with an option for two 6-month extensions or one 12-month extension, SOFR plus 77.5 bps, 15 bps facility fee, Term Loan: Initial maturity January 31, 2029 with two 1-year extensions, SOFR plus 85 bps, Three-year construction warehouse revolving credit facility with $500M accordion	Revolving Credit Facility; Unsecured Term Loan, Construction Warehouse Revolving Credit Facility	Canada, New York, Texas	0.6	TBD	TBD
Barclays - Growth Cap	57	3	$3,550,000,000	TBD	N/A	Senior Secured Green Revolving Loan and Letter of Credit Facility, Senior Secured Corporate Credit Facility	Pennsylvania, Texas, Spain	0.75	TBD	TBD
Goldman Sachs - Growth Cap	82	4	$2,950,000,000	TBD	6% interest rate with AMD guarantee	Acquisition, Senior Secured Credit Facility, Loan with Equipment Guarantee	Spain, Nebraska, Connecticut, California	0.5	TBD	TBD
Santander Bank - Growth Cap	79	4	$5,150,000,000	TBD	MIGA-guaranteed; Climate-linked conditions, Long-term optimisation agreement with guaranteed minimum income level providing downside protection, Three-year construction warehouse revolving credit facility with $500M accordion	Senior Secured Corporate Credit Facility, Acquisition, Construction Warehouse Revolving Credit Facility	Pennsylvania, Chile, Spain, Texas	0.8	1	TBD
Sumitomo Mitsui Banking Corporation (SMBC) - GC	79	4	$1,712,400,000	TBD	Senior Secured Green Revolving Loan and Letter of Credit Facility, 3-year availability period; 5-year tenor; partial guarantee from EIFO, Put option arrangement with exit path in three years with certain returns, 5-year Revolving Credit Facility	Senior Secured Green Revolving Loan (2) and Letter of Credit Facility, Senior Secured Corporate Credit Facility	Texas, Denmark, Sweden, Louisiana	0.5	1	1
Citigroup - Growth Cap	95	5	$7,191,250,000	TBD	5-year loan, 4-year loan (secured to unsecured), 95% covered buyer credit guarantee, 5-year Interest at base rate, Term SOFR, EURIBOR	Acquisition (2), Growth Capital (2), Senior Secured Revolving Credit Facility	Canada, Spain, Florida, France, Texas	0.71	1	TBD
Huntington Bank - Growth Cap	69	5	$1,220,000,000	TBD	5 years, matures 1/15/2031; SOFR + 1.15% to 1.65% depending on leverage, Revolving facility with two six-month extension options (2)	Five-Year Unsecured Term Loan, Commercial Aircraft Engine Acquisition Facility, Unsecured Credit Facility (Revolver + Term Loans) (2), Revolving Credit Facility (2)	Washington, Illinois, California, Florida, Colorado	0.833	1	TBD
Morgan Stanley - Growth Cap	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Mitsubishi UFJ Financial Group (MUFJ) - Growth Cap	12	1	$150,000,000	TBD	5-year loan	Debt Financing	Florida	0.2	TBD	TBD
Truist Bank - Growth Cap	34	2	$1,050,000,000	TBD	2 years with three 1-year extension options, 4 years revolving credit facility with two six-month extension options (Pricing grid based on leverage ratio plus SOFR, 10-15 bps lower than prior debt)	Acquisition Credit Facility, Unsecured Credit Facility (Revolver + Term Loans)	New Jersey, Florida	0.4	TBD	TBD
Bank of Montreal (BMO) - Growth Cap	31	2	$2,618,250,000	TBD	Term loan under Softwood Lumber Program	Growth Capital (2)	Canada (2)	0.4	TBD	TBD
Canadian Imperial Bank of Commerce (CIBC)	49	3	$4,165,425,000	TBD	4-year loan (secured to unsecured), Three-year construction warehouse revolving credit facility with $500M accordion, Initial 3-year term with consecutive 1-year extension (prime rate + .75%)	Acquisition, Construction Warehouse Revolving Credit Facility, Growth Capital	Canada (2), Texas	0.42	1	1
ING Groep NV - Growth Cap	68	4	$3,403,000,000	TBD	Three-year construction warehouse revolving credit facility with $500M accordion, 95% covered buyer credit guarantee	Senior Secured Corporate Credit Facility, Senior Secured Green Revolving Loan and Letter of Credit Facility, Construction Warehouse Revolving Credit Facility, Growth Capital	Pennsylvania, Texas (2), France	0.8	1	TBD
Royal Bank of Canada	80	5	$5,093,250,000	TBD	4-year loan (secured to unsecured), 3-year loan with two one-year extension options; SOFR plus 85 bps; interest-only payments, Three-year construction warehouse revolving credit facility with $500M accordion, 2-year loan with potential 90-month extension	Acquisition, Refinance & Growth Capital, Construction Warehouse Revolving Credit Facility, Senior Secured Credit Facilities	Illinois, Canada (2), Texas, New York, Louisiana	0.625	2	TBD
Wells Fargo - Growth Cap	113	7	$6,313,250,000	TBD	4-year loan (secured to unsecured), 3-year loan with two one-year extension options; SOFR plus 85 bps; interest-only payments, with one-year extension option; SOFR plus 85 bps; interest-only payments, Three-year construction warehouse revolving credit facility with $500M accordion, Revolving facility with two six-month extension options	Acquisition, Refinance (2), Growth Capital (2), Construction Warehouse Revolving Credit Facility, Unsecured Credit Facility (Revolver + Term Loans)	Illinois (2), Canada, New York, Texas, California	1.4	1	TBD
Blue Owl Capital	24	1	$1,400,000,000	TBD	TBD	Delayed-Draw Term Loan	Germany	0.16	TBD	TBD
Comvest Partners	19	1	$130,000,000	TBD	TBD	Senior Secured Credit Facility	California	0.125	TBD	TBD
MidCap Financial	16	2	0	TBD	Revolver with accordion feature; term loan; delayed draw term loan	Senior Secured Credit Facility (Revolver), Senior Secured Credit Facility (Revolver + Term Loan + DDTL)	Colorado, California	0.4	1	TBD
Mountain Ridge Capital	8	1	$15,000,000	TBD	Revolving facility maximizing availability against working capital assets	Senior Secured Credit Facility	Midwest	0.25	TBD	TBD
SLR Credit Solutions	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Blackstone - Growth Cap	29	1	$600,000,000	TBD	TBD	Growth Capital	India	0.14	TBD	TBD
Hercules Capital	12	1	$25,000,000	TBD	4-year loan with three tranches up to $75M milestone-based, final $25M at Hercules discretion	Growth Capital	California	0.25	TBD	TBD
Monroe Capital	74	7	$100,000,000	TBD	Prime plus 3.75% (currently 10.50%); 60-month term with amortization at month 36 (or month 48 if milestones met)	Senior Secured Term Loan (6), Debt Financing + Equity Co-Investment	Delaware, New York, Michigan, Illinois, Florida (2), Iowa	0.875	4	TBD
SG Credit Partners	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Stellus Capital Management	16	2	Undisclosed	TBD	TBD	Senior Debt Financing and Equity Co-Investment (2)	Viriginia, Tennessee	0.4	1	TBD
HPS Investment Partners	29	1	$500,000,000	TBD	Four-year secured term loan, SOFR + 675 basis points	Secured Term Loan	New York	0.2	1	TBD
NXT Capital	24	2	Undisclosed	TBD	TBD	Senior Credit Facility	Pennsylvania (2)	0.25	TBD	TBD
Siena Lending Group - GC	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Trinity Capital	27	2	$83,915,000	TBD	Commitment structure	TBD	United Kingdom	0.25	TBD	TBD
Wingspire Capital	36	3	$120,000,000	TBD	N/A	Senior Secured Revolving Credit Facility	Florida	0.66	1	1
Ares Management - Growth Cap	67	2	$4,000,000,000	TBD	TBD	M&A, Debt Facility	New Jersey, Colorado	0.33	1	TBD
Encina Private Credit	15	1	$75,000,000	Consumer lease-to-own contracts	Senior credit facility secured by diversified pool of small balance lease-to-own contracts	Senior Credit Facility	TBD	0.25	TBD	TBD
Great Rock Capital - GC	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
KKR	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Whitehawk Capital Partners	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Advantage Business Capital	8	1	$1,000,000	Invoices	TBD	Invoice Factoring Facility	TBD	0.16	TBD	TBD
First Citizens Bank - ABL	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Gibraltar Business Capital	8	1	0	TBD	TBD	Senior Secured Facility	TBD	0.25	TBD	TBD
nFusion Capital	24	3	$13,000,000	Accounts receivable and inventory, Inventory	TBD	Asset-Based Lending Facility (2), Factoring Line	Colorado, California, Arizona	0.42	3	TBD
Culain Capital	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
First Business Bank	32	4	$12,200,000	Vehicle inventory, Accounts Receivable	Factoring facility	Credit Facility, Inventory Floorplan, Factoring Facility (2)	Hawaii, Pennsylvania, Virginia	0.57	1	TBD
Great Rock Capital - ABL	49	3	$340,000,000	Accounts receivable and best-in-class machinery and equipment (2)	TBD	Senior Secured Revolver (3)	Pennsylvania	0.5	TBD	TBD
Rosenthal Capital Group	16	2	$4,000,000	Accounts receivable (2)	TBD	Recourse Factoring Facility (2)	California, Michigan	0.25	TBD	TBD
Ares Commercial Finance	12	1	$175,000,000	Accounts receivable; Machinery & equipment	TBD	Senior Secured Revolving Credit Facility	TBD	0.16	TBD	TBD
Sallyport Commercial Finance	8	1	$2,000,000	Accounts receivable	TBD	Accounts Receivable Facility	Canada	0.5	TBD	TBD
SLR Healthcare ABL	8	1	$7,000,000	TBD	TBD	Asset-Based Revolving Line of Credit	Northeast	0	TBD	TBD
Utica Equipment Finance	8	1	$11,000,000	Heavy equipment (trucks, trailers, dozers, excavators, graders, loaders, turf-farm machinery)	TBD	Capital Lease	Mid-Atlantic	0.25	TBD	TBD
Amerisource Business Capital	16	2	$9,000,000	Accounts receivable (2), commercial real estate	A/R Only Facility, Asset-Based Lending Facility	Asset-Based Lending Facility, A/R Only Facility	Midwest US, Texas	0.5	TBD	TBD
King Trade Capital	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
MidCap Business Credit	24	3	$31,000,000	Accounts receivable (2), inventory (2), machinery and equipment, Distributor of specialty chemicals and materials	Working capital revolver and machinery/equipment term loan	Working Capital Revolver (2), Machinery and Equipment Term Loan, Asset-Based Credit Facility	TBD	0.75	TBD	TBD
White Oak Commercial Finance	15	1	$35,000,000	Various assets across UK and U.S. platforms (multi-currency facility)	$20M uncommitted accordion feature; structured in USD, GBP, EUR	ABL Revolver Facility	Texas	0.125	TBD	TBD
Loeb Equipment	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Prestige Capital	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
JPalmer Collective	32	4	$15,000,000	Inventory (2)	Line of credit with flexible structure	Line of Credit (2), Debt Facility, Working Capital Facility (Asset-Based)	California, Oregon, New York, Georgia	0.8	1	TBD
Austin Financial Services	8	1	$10,000,000	TBD	TBD	TBD	TBD	0.2	0	1
eCapital	40	5	$31,500,000	Accounts receivable (2), Freight receivables (2)	ABL facility with advances against accounts receivable and inventory	A/R Financing Facility (3), Freight Factoring Facility (2)	Canada, Massachusetts	1	1	TBD
Porter Capital	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Siena Lending Group - ABL	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Gateway Trade Funding	15	2	$500,000	Purchase orders (letter of credit-backed), Inventory	Letter of credit-backed	Purchase Order Facility (2)	TBD	0.33	TBD	TBD
Republic Business Credit	47	6	$23,000,000	Accounts receivable (3)	Ledgered line of credit, Includes $10 million accordion feature, Accordion up to $6M with $2M inventory lending option after 6 months upon meeting performance thresholds	Ledgered Line of Credit, Factoring Facility (3), Asset-Based Loan (2)	Northeast US, Southwest US, Midwest US, California, West Coast	0.75	2	TBD
SLR Business Credit	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
TAB Bank	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Alpine Ridge Funding	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Celtic Capital	23	3	$4,320,700	Accounts receivable (3)	AR Line (2), Equipment Loan (2)	Accounts Receivable Line of Credit (2), Equipment Loan	Pacific, South-Central US, California	0.375	TBD	TBD
Clarus Capital	8	1	$10,000,000	Essential use assets (medical transportation vehicles)	Loan facility for sponsor-backed company	Loan Facility	TBD	0.25	TBD	TBD
Gordon Brothers	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Assembled Brands	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
MidCap Financial - ABL	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
Southstar Capital	75	10	$14,500,000	Invoices (4), Accounts receivable (5)	Accounts receivable (3), Flexible structure; potential payment assurance arrangements	Accounts Receivable Facility (7), Invoice Factoring Facility (3)	SouthEast US (2), Midwest, Indiana	1.25	3	TBD
Wintrust Equipment Finance	0	0	0	TBD	TBD	TBD	TBD	0	TBD	TBD
The Hedaya Capital Group	24	3	$11,000,000	Accounts receivable (2)	Factoring facility	Factoring Facility (3)	Texas, New Jersey, New York	0.42	1	TBD
Sigma Funding	15	2	$2,600,000	Accounts receivable (2)	TBD	Accounts Receivable Funding Facility (2)	California, Florida	0.28	TBD	TBD
Capteris	12	1	$25,000,000	New and existing assets acquired over past year	TBD	Lease Facility	TBD	0.5	TBD	TBD
Baker Garrington	38	5	$5,750,000	Accounts receivable (4)	Factoring facility	Factoring Facility (5)	Colorado, Oklahoma, Indiana, Louisiana, Texas	0.625	TBD	TBD

Tale of the Tape (YTD 2025)

Total Points: 33
Deals Logged: 11
Volume Drafted: Undisclosed
Primary Asset Focus: Specialty Food & Beverage Brands | Consumer Goods, Jewelry & Fitness | Packaging & High-Growth Medical
Most Common Loan Term: No specific data
Primary Loan Type: Credit Facility (6) | Growth Line of Credit (2) | Working Capital Facility (1)
Top States: California (7), New York (2), New Jersey
Win-Loss-Draw: 3-3-7

SEE THEIR RANKING

Week	Opponent	Result	Score & Top Deal	Top Deal Source
Playoff-Round 1	Southstar Capital	Loss	3-6 (Undisclosed Amount Combined AR & PO facility to Textile Distributor and Printing Supplier)
12	Austin Financial Services	Draw	0-0 (No Decisive Deal)
11	Wintrust Receivables Finance	Draw	0-0 (No Decisive Deal)
10	Southstar Capital	Win	3-0 (Undisclosed Credit Facility Los Angeles, CA)	Link to Deal
9	Republic Business Credit	Loss	0-3 ($1M Factoring Facility West Coast, CA)
8	MidCap Financial: Asset-Based Lending	Win	3-0 (Undisclosed Amount Los Angeles, CA)	Link to Deal
7	Clarus Capital: Asset-Based Lending	Draw	0-0 (No Decisive Deal)
6	Austin Financial Services	Draw	0-0 (No Decisive Deal)
5	Wintrust Receivables Finance	Win	3-0 (Undisclosed Amount)	Link to Deal
4	Southstar Capital	Loss	0-3 ($4M Undisclosed)
3	Republic Business Credit	Draw	0-0 (No Decisive Deal)
2	MidCap Financial: Asset-Based Lending	Draw	0-0 (No Decisive Deal)
1	Clarus Capital	Draw	0-0 (No Decisive Deal)

Lender Overview

Headquarters: West Hollywood, CA & New York, NY
Founded: 2013
Ownership: Private (Institutional Partnership)
Primary Focus: CPG Growth Capital / Asset-Based Lending
Typical Deal Size: $1M – $10M [Estimated based on sector/losses]

2025 PERFORMANCE SUMMARY

Assembled Brands finished the 2025 Lender Draft season with a 3-3-7 record, demonstrating a limited competitive activity level and a highly selective approach to deal conversion. Their 23.1% win rate reflects a strategy of specialized niche dominance rather than broad-market competition, often engaging in drawn-out structural negotiations that result in “Draw” outcomes against more transactional lenders.

Their record reveals a distinct “barbell” pattern in activity: a surge of closings in July followed by a quiet late summer, then a resurgence in Q4. This pacing suggests a capital deployment strategy tethered to the retail inventory cycles of their borrowers, funding pre-holiday inventory in mid-summer and Q4 replenishment for the new year.

DEAL FLOW ANALYSIS

Forensic analysis of the Assembled Brand deal history reveals a lender hyper-focused on the “Better-for-You” consumer wellness sector.

Deal Size Range: While mostly undisclosed, competitive losses occurred at the $1M and $4M marks, suggesting their “sweet spot” likely hovers between $2M and $10M, avoiding micro-tickets and larger syndicated deals.
Geographic Focus: Heavy concentration in California (7 of 11 deals), specifically Los Angeles and San Francisco, mirroring the hubs of venture-backed CPG innovation.
Industry Patterns: The “Company Type” column shows a rigid thesis: Gut Health (Supergut, wildwonder), Protein/Fitness (Seeq, Force USA), and Sustainable Goods (Ana Luisa, Stately).
Loan Structures: They heavily utilize Credit Facilities and Growth Lines of Credit. The top deal notably features an “Accordion-style facility,” proving their capability to structure dynamic caps.
Deal Purposes: Dominant themes are “Inventory” (Amazon/Omnichannel) and “Retail Rollout,” confirming they fund working capital cycles, not acquisitions.
Asset Types: Inventory (finished goods), Accounts Receivable
Transaction Velocity: Velocity is clumpy. They closed three deals in July (pre-holiday stocking window) and two in October (Q4 push), with significant gaps in August and November. This indicates a seasonal underwriting cadence aligned with the retail calendar rather than consistent monthly quotas.

Strategic Insight

White Space Identification: They have successfully occupied the “Post-Venture, Pre-Bank” void for CPG brands. By funding “Gut Health” and “Sustainable Jewelry,” they underwrite brand equity and inventory realizability risks that traditional banks (who view such inventory as illiquid) simply cannot touch.

IDEAL BORROWER PROFILE

The ideal borrower for Assembled Brands, based on verified 2025 activity, is a California-based CPG brand with $5M-$20M in revenue, specifically in the wellness, food, or sustainable goods sectors. They are likely venture-backed but seeking non-dilutive capital to fund a major inventory buildup for a retail rollout or Amazon expansion.

Opening: The ideal borrower for Bank of America, based on verified 2025 activity, is a publicly traded REIT or large-cap institutional fund requiring $500M+ in liquidity to refinance stabilized portfolios in primary markets.

FOR BORROWERS

They heavily favor “consumable” inventory (food, beverage, beauty). If you are selling slow-moving hard goods (furniture, electronics), your approval probability drops significantly based on their 10:1 ratio of consumables to durables in the 2025 data.
Action: Explicitly request an “Accordion Feature” in your term sheet to automatically increase your line cap by 20-30% during your peak season (e.g., Oct-Dec), citing their Stately deal as a precedent.
Timing: Submit your application in early May to target a July close. This aligns with their proven “summer surge” workflow and ensures capital is available for your holiday inventory deposits.

FOR BROKERS

They are a California specialist (64% of deals). A New York or NJ deal is viable (3 deals), but a deal in the Midwest or South is a statistical outlier and likely a waste of time unless the credit is pristine.
Action: Only send them your “Story Credits”—high-growth CPG brands with complex inventory needs (e.g., entering Target/Whole Foods) that banks hate. Do not send them simple manufacturing or staffing deals; they will sit in “diligence purgatory” and likely result in a Draw.
Strategy: Frame the submission as an “Omnichannel Expansion Play.” Highlight the borrower’s need for inventory capital specifically to fulfill new Purchase Orders from major retailers. This matches the “Reason” column for 50% of their 2025 wins.

FOR RIVAL LENDERS

They are vulnerable on Turnaround/Distressed deals. Their portfolio is entirely “Growth/Expansion.” They have zero “Refinance/Restructuring” deals logged. If a CPG brand is distressed, Assembled Brands is likely exiting, not entering.
Action Strategy: If competing against them, offer a single, flat-fee structure. Assembled Brands likely uses complex grids (Prime + margin + monitoring). Win by simplifying the cost of capital for the borrower, even if the rate is slightly higher.
Defense Strategy: Poach their clients in January/February. Their heavy “July/October” funding cycles suggest their clients are flush with debt post-holiday. Offer a “refinance and term-out” structure in Q1 to lower the borrower’s monthly debt service after their seasonal peak.

FOR ANALYSTS & FUNDS

The “Ozempic Effect” is visible in their book. Funding “Protein shakes” (Seeq) and “Gut Health” (Supergut, wildwonder) aligns with the macro shift toward functional nutrition and weight-management-adjacent products. They are effectively a derivative bet on the GLP-1 economy.
Observation: Watch their Q1 2026 Loss Rate in the “Functional Beverage” category. They are heavily overweight here. If the sector softens, Assembled Brands will be the canary in the coal mine for CPG credit quality.
Strategy: Short the “DTC Aggregator” model but go long on “Omnichannel Infrastructure.” Assembled Brands’ pivot to funding retail rollouts confirms that the smartest money in consumer credit believes the future of CPG is back in physical stores, not just on Shopify.