XS Financial Expands Credit Facility to $100 Million

XS Financial Inc., a Los Angeles-based equipment finance company, has increased its credit line from $70 million to $100 million. Needham Bank leads the Credit Facility, with First Citizens Bank providing $20 million. The company aims to use the funds for capital expenditures and equipment leases with both new and existing clients.

The financial advisor for this transaction was Gramercy Capital Group, LLC. CEO David Kivitz expressed enthusiasm about the expanded partnership with Needham Bank and the addition of First Citizens Bank. The move highlights XS Financial's strong position and its commitment to supporting middle-market companies with flexible financing during growth and expansion phases.

Ryan Palmquest of First Citizens Bank noted the important role XS Financial plays in financing within the cannabis sector, as they continue to target innovative growth.