Fast implementation, industry expertise, flexible and strong SaaS technology, and ability to scale with start-up ABL lender among key decision drivers
Solifi, a global fintech software partner for secured finance, announced that Mountain Ridge Capital (MRC) selected and recently deployed Solifi’s asset-based lending (ABL) software solution. A start-up ABL independent with seasoned finance executives and rapid growth projections, MRC is partnering with Solifi because of its technology platform, industry knowledge, fast implementation, and the ability to scale in line with their growth targets.
“While establishing MRC, it was paramount to select a platform that is a known staple within the secured finance industry, a product with proven delivery for execution, and an enhanced lender and borrower experience,” says Tree Buckingham, executive vice president, MRC Operations. “It was equally important that MRC partner with a vendor committed to drive our purpose as we grow. We wanted a cloud-based ABL product that equaled in strength to the arsenal of talent gathered here at MRC. Solifi’s ABL product and its team will serve to accelerate our impact within the specialty lending space.”
MRC focuses on originating, underwriting, and managing asset-based commercial loans from $5 million to $30 million in commitment size. The start-up ABL lender offers asset-based revolver and term loans to lower middle-market businesses and uses an industry-agnostic approach to consider advancing against all types of collateral. MRC provides lending to privately held, family-owned, and private equity-backed businesses requiring liquidity to support business transitions, including turnarounds, restructurings, acquisitions, and changes in ownership or control.
“We’re excited to support MRC’s new venture and vision in providing flexible and alternative lending solutions that differentiate themselves in the ABL market,” says David Hamilton, Solifi CEO. “Our software-as-a-service (SaaS) solutions built on our open finance platform offer the features and functionality MRC requires to accelerate growth as a start-up as well as innovative technology to scale with them as they grow.”