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National Funding’s Line of Credit Gets $25 Million Boost

Alternative lender National Funding got a bump in its $50 million line of credit from Pacific Western Bank, bringing it to $75 million, the company said Wednesday.

The lending facility extension came from Pacific Western’s CapitalSource division.

The announcement caps a banner year for National Funding. Wells Fargo in October raised its lending facility for National Funding from $30 million to $75 million.

National Funding’s revenues have risen about 70 percent this year, from $39 million to a projected $66 million. It doubled its office space this year and brought on 50 employees in the first three quarters of the years, bringing its headcount to 150. It expects to have more than 270 employees by the end of 2016.

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