For nearly a century, companies from virtually every industry have turned to Bank of America Business Capital for sound financial solutions. As one of the largest asset-based lenders in the world — serving the United States, Canada and Europe — we're dedicated to helping middle-market and large corporate borrowers achieve their goals. Our proven track record and commitment to excellence have resulted in lasting relationships and satisfied clients.
About Us
Bank of America Business Capital has been a leader in asset-based finance for more than 80 years because we deliver, consistently, through many economic cycles.
We're an enduring asset-based lender with a history of fast decisions and creative loan structures offering flexibility and liquidity. Whether the loan is $5 million or $2 billion, our deals get done. What's more, our clients benefit from the broad product offering and loan syndication capabilities of Bank of America — a capability that is unmatched in the asset-based lending industry.
Our approach to lending is simple:
- Stick with what you know. For us that means middle-market and large companies, referral sources and equity sponsors in hundreds of industries.
- Anticipate needs. We can because we live and work where our clients operate. Our business development, loan administration, underwriting and in-house appraisal professionals are located across the United States.
- Offer solutions that help clients grow and succeed. Whether it's financing an acquisition, restructuring the balance sheet, leveraging a trade name, or providing foreign exchange and cash management services, Bank of America Business Capital offers total financial solutions.
As our borrowers and intermediaries will attest, we're committed to our clients' success — every day. For financing of $5 million or more, contact us online. To view our lending profile click here.
Executive Management
Bank of America Business Capital is led by a seasoned executive management team. We invite you to view their biographies by clicking on the photos or names below.
Daniel C. deBrauwere West U.S.Division Executive
John MostofiCentral U.S.Division Executive
Bob ArthEast U.S.Division Executive
Bruce Denby Business FinanceDivision Executive
Executive Management
Bank of America Business Capital is led by a seasoned executive management team. We invite you to view their biographies by clicking on the photos or names below.
Daniel C. deBrauwere West U.S.Division Executive
John MostofiCentral U.S.Division Executive
Bob ArthEast U.S.Division Executive
Bruce Denby Business FinanceDivision Executive
Covenant Transportation Group, Inc.
Based in Chattanooga, TN, Covenant Transportation Group, Inc. is one of the largest truckload carriers in the United States. The company is the holding company for several transportation providers including Covenant Transport and Covenant Transport Solutions of Chattanooga, Tennessee, Southern Refrigerated Transport of Texarkana, Arkansas and Star Transportation of Nashville, Tennessee. The consolidated group operates more than 3,450 tractors and 8,200 trailers. The company’s key customers belong to the manufacturing, retail, freight forwarder, less-than-truckload and 3PL segments.
Covenant was looking for a lender with experience in financing companies in the trucking industry to provide liquidity for the company to maintain its market share during uncertain economic times. Bank of America Business Capital delivered a creative deal structure that allowed Covenant to replace its prior loan with a more flexible, longer term arrangement.
The $85 million senior secured credit facility is being used to refinance existing debt and provide for working capital needs. It includes an accordion feature which allows Covenant to request an increase in the facility of up to $50 million. Bank of America is also providing letters of credit as well as treasury management services.
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