Alston & Bird client Regional Management Corp., a diversified consumer finance company, has expanded its warehouse facility capacity to $300 million by closing on a new warehouse facility with JP Morgan.
The new financing follows Regional Management’s recently closed warehouse facilities with Wells Fargo and Credit Suisse – which Alston & Bird also advised on – and will finance consumer loans, including small loans, large loans, convenience check loans, and electronic and online loans. The three combined warehouse facilities represent an increase of $175 million from the company’s previous single $125 million warehouse facility.
Founded in 1987, Regional Management is a New York Stock Exchange–listed company providing a broad array of loan products primarily to customers with limited access to consumer credit from banks, thrifts, credit card companies, and other traditional lenders.
Advising Regional Management in all three warehouse facilities was an Alston & Bird team led by partners Tara Castillo and Mark Harris, counsel Robin Regan, senior associate David Rutherford, associates Andrew Burton and Liz Hilton, and paralegals Ann Kresge and Pam Wheeler (Finance); partner Clay Littlefield (Federal & International Tax); partner Jonathan Edwards and senior associate Jacob Johnson (Financial Restructuring & Reorganization); partner Blake Estes (Financial Services & Products); and partner Jonathan Rose (Employee Benefits & Executive Compensation).