NEW YORK, Oct. 17, 2023 /PRNewswire/ -- Alpine Ridge Funding ("Alpine Ridge"), a factoring commercial finance company, announced its official launch. Strategically backed with equity from Mountain Ridge Capital, Alpine Ridge is focused on originating, underwriting, and managing factoring facilities from $50,000 to $30 million.
Alpine Ridge provides factoring facilities to small and lower middle-market businesses across a broad range of industries primarily through the purchase of accounts receivable. Alpine will provide financing to companies requiring liquidity with little or short operating histories, turnarounds, restructuring, acquisitions, changes in ownership or control, experiencing rapid growth, funding new projects, concentrations, carve-outs from other borrowing bases and off-balance sheet transactions. Alpine Ridge will consider other asset classes, including inventory, machinery and equipment, and real estate to advance against in appropriate situations. The Alpine Ridge platform was created to help companies that cannot qualify for bank or asset-based financing receive the financing they need to achieve their varied goals.
Craig Winslow, President of Alpine Ridge said, "We created Alpine Ridge to provide financing solutions to lower and middle-market businesses that value speed, sophistication and flexibility and may not otherwise be able to find the financing they need to run their business. We have hired 3 industry veterans in David, Leslie, and Kristin to lead this effort and have laid the cornerstones of a world class execution team."
David Fortner is responsible for business development and is based in Atlanta where he has been in the factoring community for over 30 years. Prior to joining Alpine Ridge, David spent time at Mitsubishi HC Capital, Bank of America, GMAC Commercial Finance, Bibby Financial Services, and UMB Bank, providing solutions to working capital needs "I'm thrilled to be part of a new team launching into what should be an interesting financing market over the next 12 months or so," said David. "We have a very solid core team and substantial equity backing, essential ingredients with which to enter the financing market and make a difference for our target clients."
Leslie Crose is responsible for leading the portfolio and underwriting functions of Alpine Ridge. Prior to joining Alpine Ridge, Leslie began her career at Triumph Business Capital and most recently held the role as Senior Relationship Manager at TAB Bank. "We have an extraordinary team committed to excellence. I am excited about the possibilities that Alpine Ridge has to offer clients," says Leslie.
Kristin Maxwell will lead Alpine Ridge's operations team. In her role as Director of Operations, Kristin brings 15 years of experience in commercial lending spanning ABL and Factoring and most recently worked at Axiom Bank as a VP, Product Owner for Commercial & Treasury. Kristin says, "I'm excited about the transformative impact we can make. Our focus is on providing personalized factoring solutions, enabling businesses to thrive and overcome financial challenges. At Alpine Ridge, we've partnered with FactorCloud to make factoring easier for businesses by integrating new technology, ensuring that our clients enjoy a streamlined, user friendly, and efficient financial partnership."
Alpine Ridge's senior and experienced leadership team is comprised of David Fortner, Vice President of Business Development, Leslie Crose, Managing Director of Portfolio & Underwriting, and Kristin Maxwell, Vice President of Operations.
About Alpine Ridge Funding
Alpine Ridge Funding is a flexible, client focused financing provider for businesses in a broad array of industries that need working capital for a variety of reasons. Alpine Ridge Funding focuses on originating, underwriting, and managing factoring facilities from $50,000 to $30 million for small to middle-market businesses across the U.S. and Canada. See www.alpineridgefunding.com for more information on Alpine Ridge Funding.
Alpine Ridge Funding is a Mountain Ridge Capital Company which provides asset-based revolvers and term loans to lower middle-market businesses.
About Mountain Ridge Capital
Mountain Ridge Capital provides highly customized asset-based revolvers and term loans to middle-market businesses and utilizes an industry agnostic approach to consider advancing against all types of collateral. Mountain Ridge targets lending to privately held, family-owned, and private equity-backed businesses requiring liquidity to support business transitions, including turnarounds, restructuring, acquisitions, and changes in ownership or control. The Mountain Ridge platform was created in partnership with Arena Investors, LP (www.arenaco.com). Mountain Ridge offers borrowers quick turnaround times and has a team of experts that understand all types of collateral, not just traditional A/R and inventory, which results in higher advance rates and more overall liquidity as compared to many traditional bank products. Visit the website at www.mountainridgecap.com.
SOURCE Mountain Ridge Capital