May 8, 2008
Commercial Credit Group Inc. Closes Subordinate Debt Facility
Commercial Credit Group Inc. (CCG) announced today that it had closed a fourth round of long term capital. The capital was provided by Allied Capital Corporation (NYSE: ALD) based in Washington, DC. The transaction totaled $22,000,000 and included the purchase of senior unsecured subordinate notes. The proceeds from this transaction will be utilized to fund the company’s growth.
“Our relationship with Allied Capital is a tremendous resource for our company. Allied is extremely knowledgeable about the specialty finance segment and continues to provide significant benefits to us as we continue to grow and expand our business. We continue to be very excited about having Allied as a partner.”, said Dan McDonough, CEO of CCG.