$75 Million Upsize; Achieves 92 Basis Point Yield Improvement; Oversubscribed Across All Bond Classes
SAN DIEGO, March 3, 2026 /PRNewswire/ — National Funding, Inc., a leading provider of innovative commercial financing solutions for small- and medium-sized businesses across the United States, today announced the completion of its fourth securitization transaction, which was an upsize of its Series 2025-1 issuance. The transaction was upsized by $75 million to $220 million, which is a record outstanding issuance amount for National Funding.
The Series 2025-1 notes are structured into four (4) classes with ratings affirmed by Kroll Bond Rating Agency (KBRA) as follows: AA- for Class A, A- for Class B, BBB- for Class C, and BB for Class D.
The notes relating to the upsize were approximately 3x oversubscribed and priced at a blended yield of 6.13%, which is a 92 basis point improvement over the original May 2025 issuance. The significant improvement in execution underscores the capital markets’ strong confidence in the company’s credit quality and operational performance.
“This transaction represents a transformative moment for National Funding and a powerful validation of our strategic direction,” said David Gilbert, CEO of National Funding. “The 3x oversubscription across all bond classes and the 92 basis point yield improvement from our May issuance demonstrate extraordinary investor confidence in our business model, risk management capabilities, and growth trajectory. This premium pricing not only reduces our cost of capital but generates significant additional value that we will deploy to expand access to capital for small businesses across America.”
Guggenheim Securities, LLC served as sole structuring agent and sole book runner.
About National Funding
National Funding, Inc. is a leading provider of innovative commercial financing solutions for small- and medium-sized businesses across the United States. Through advanced technology and customer-centric service, National Funding delivers flexible capital solutions that empower entrepreneurs and small business owners to achieve their growth objectives. For more information, visit www.nationalfunding.com.
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SOURCE National Funding
