IDB Bank Provides Financing to Franklin Capital

IDB Bank (“IDB”), a New York-based private and commercial bank, has provided a working capital facility to Franklin Capital to benefit the firm’s operating cash flow amid strategic expansion. Serving as the Sole Lender, the deal signals the Bank’s continued lending activity through its national Asset-Based Lending and Factoring division, empowered by its specialty financing capabilities within the lower-middle market.

“Our recent deal with Franklin Capital is an important part of IDB’s growth story, powered by our relationship-first banking practices and agile lending capabilities amid a challenging macroeconomic environment,” said Neil Wolfe, Head of Asset Based Lending and Factoring at IDB. “We understood their unique need for working capital in order to keep pace with exciting growth across their business, and we were able to work closely with them to build a solution that would help them to maximize opportunity. We will continue to leverage these practices to expand the scope and reach of our business to empower our clients across the middle market.”

Headquartered in Highland Park, IL, Franklin Capital has delivered strategic cash flow solutions to domestic and Canadian medium-sized businesses across all points of the enterprise lifecycle for more than 30 years, with a special focus on accounts receivable and purchase order/trade finance accommodations.

"With our business growing, we found ourselves exceeding our line of credit. We are fortunate to have found the wonderful team at IDB that truly understands our businesses and provides the flexibility that is crucial for our ongoing growth and success,” said Sue Duckett, Chief Operating Officer of Franklin Capital. “Their partnership has been invaluable in enabling us to assist more small and medium-sized businesses with creative AR and PO financing accommodations.”

Neil Wolfe, Head of ABL & Factoring
NWolfe@idbny.com
(212) 551-8920

Frank Marsicano, SVP, Asset Based Lending
FMarsicano@idbny.com
(212) 551-8959

IDB Bank is a New-York State-chartered commercial bank, a member of the FDIC, and a wholly owned subsidiary of Israel Discount Bank LTD., one of Israel's leading Banks. In addition to its Manhattan headquarters, IDB Bank operates full-service offices in California, Florida and the tristate area, including branch locations in Brooklyn, N.Y, Staten Island, N.Y and Short Hills, N.J. The Bank provides a complete range of private banking and commercial banking services to U.S and international clients.

For 70 years IDB Bank has built its business by fostering deep relationships with its clients, rapid decision-making, and the ability to develop custom-tailored solutions for both its domestic and international clientele.