Heritage Global lands $10M revolving credit facility with C3bank
What's the deal? Heritage GlobalDealroom has a profile for this one. Try Dealroom → secured a $10 million revolving credit facility with C3bankDealroom has a profile for this one. Try Dealroom → on September 16, 2026, to fund its business operations. The line matures on January 16, 2028.
The terms: The facility carries a variable rate tied to The Wall Street Journal prime rate plus 1.00%, with a 7.500% floor, and requires a quarterly unused line fee. It is secured by a broad interest in current and future assets of Heritage Global and specified subsidiaries, plus a pledge of subsidiary equity.
What's the endgame? Heritage Global operates in asset-based lending and commercial finance, structuring credit against inventory, equipment, and subsidiary equity interests. The new line adds liquidity to support ongoing operations and growth.
What could go wrong? The agreement imposes customary covenants that restrict additional borrowing and asset encumbrances, limiting the company's capital flexibility over the term. Heritage Global also swung to significant losses and weaker cash flow, though its balance sheet remains conservatively levered.
The signal: At $10 million, this is a modest facility that ranks in the bottom percentile of tracked deals by size. For a company with a $46.42 million market cap that recently exited specialty lending, the line signals a focus on securing steady working capital rather than aggressive expansion.
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Image credit: Nick Saltmarsh
