Performant Financial, a provider of healthcare payments integrity and tech-enabled services, recently secured a $25 million credit facility from Wells Fargo. The transaction was facilitated by BizCap, a commercial finance advisory firm specializing in customized financing structures. Established in 2002 as Business Capital, BizCap's expertise in debt capital markets played a pivotal role in the deal, which could potentially increase by an additional $10 million under specific conditions.
The new credit agreement was achieved amidst a challenging financing environment and resulted in improved pricing and availability terms. The successful refinance of Performant's existing credit facility is seen as a testament to BizCap's reputation as a reliable financial partner for both rapidly growing and challenged middle-market companies.
Performant operates under the subsidiary Performant Healthcare Solutions, supporting its ongoing operations and growth initiatives. Rohit Ramchandani, CFO of Performant, praised BizCap's role in shaping the company's financial strategy.
Beyond its financial services, BizCap is known for its support of Team IMPACT, a nonprofit organization that connects seriously ill children to local college athletic teams. This commitment to community service further solidifies BizCap's standing as not just a financial advisory firm but also a socially responsible entity.
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