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TimePayment Expands Revolving Credit Facility to $385MM

January 31, 2019, 07:15 AM
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TimePayment announced the expansion of its revolving credit facility to $385 million inclusive of a $50 million accordion. TimePayment is committed to continually improving program flexibility and value to its vendors and partners. With this expansion, the maturity was extended four years to Dec. 21, 2022.
“This credit facility provides TimePayment with a stable, flexible and efficient source of funding to meet the business’s ongoing capital needs,” said Robert K. Moskovitz Chief Financial and Administrative Officer at TimePayment. “We appreciate the continued support of our bank group, this will allow us to continue building our portfolio and meet the needs of our vendor partners and their customers.” 

TimePayment is a Boston-based fintech company owned by affiliates of Fortress Investment Group. Fortress is owned by SoftBank Group Corp.

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