TSL Express Daily News
The Secured Lender
SFNet's The 81st Annual Convention Issue
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January 19, 2022
Source: Hovde Group
Based in McLean, Virginia, Parabilis, LLC (“Parabilis” or the “Company”), an established asset-based lender serving small- to mid-sized government contractors, has closed on a new senior revolving credit facility (the “Facility”) with Congressional Bank (“Congressional”).
Based in McLean, Virginia, Parabilis, LLC (“Parabilis” or the “Company”), an established asset-based lender serving small- to mid-sized government contractors, has closed on a new senior revolving credit facility (the “Facility”) with Congressional Bank (“Congressional”).
Highlights of the deal include:
- Parabilis provides working capital solutions to prime- and sub-contractors serving the U.S. Federal Government
- Founded in 2013 by three operating and financing government contracting industry executives, Parabilis has a unique competitive advantage by fully understanding, from the client’s perspective, the target market and risks associated with conducting business with the Federal Government and its supporting companies
- The Facility, which includes an accordion up to $50 million, will be used to refinance Parabilis’ existing senior credit facility and support future growth of the Company’s asset-based loan portfolio
- Congressional Bank (www.congressionalbank.com), Member FDIC, is in the process of rebranding to Forbright Bank, and is a full-service bank, commercial lender, and asset manager headquartered in Chevy Chase, Maryland with over $4.5 billion of owned and managed assets
Hovde served as sole placement agent to Parabilis. Please contact Chris Hemler for more information.