Coast Funding Closes Senior Credit Facility with Plains Commerce Bank
This milestone significantly enhances Coast's funding capacity, enabling the company to serve more clients, deliver faster approvals, and offer more competitive rates.
'This transaction is a meaningful endorsement of the strength of our portfolio, our underwriting discipline, and our team,' said Matt Price, Founder and CEO of Coast Funding. 'Plains Commerce has been a valued partner for the past three years. This facility is the natural evolution of our relationship and a critical step forward in executing our long-term vision.'
Earlier this year, Plains Commerce Bank introduced its proprietary Plains Pay platform—a modern treasury management solution designed to provide the fintech sector with efficient ACH, wire, payment processing, and warehouse lending capabilities.
'Coast Funding has demonstrated exceptional growth and a strong commitment to serving small businesses,' said Chris Wasmund, COO of Plains Commerce Bank. 'We're proud to support their continued expansion and be part of a partnership that helps entrepreneurs thrive.'
About Coast Funding
Founded in 2021, Coast Funding is a proven leader in alternative financing for businesses across the U.S. The company offers products including business lines of credit, short-term business loans, revenue-based funding, and equipment financing. Coast differentiates by combining best in class technology with an old school relationship-based approach. The company has an A+ rating with the Better Business Bureau and is rated 4.8 stars by TrustPilot. For more information, visit www.coastfunding.com.
About Plains Commerce Bank
Founded in 1931, Plains Commerce Bank is a privately held, FDIC-insured community bank headquartered in South Dakota. The bank offers a full range of commercial banking solutions focused on service, trust, and long-term partnership. For more information, visit www.plainspay.com.
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