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Dave Amends Credit Facility to Increase Capacity and Advance Rate, Reduce Cost of Funds, and Extend Maturity

Yahoo! Finance
LOS ANGELES, Sept. 18, 2023 (GLOBE NEWSWIRE) -- Dave Inc. (“Dave” or the “Company”) (Nasdaq: DAVE), one of the nation’s leading neobanks, has amended its existing Delayed Draw Senior Secured Loan Facility (the “Credit Facility”) with Victory Park Capital Advisors, LLC (“VPC”), effective September 13, 2023. The amendment to the Credit Facility accomplishes the following: Increases the total size by $50 million to $150 million;Increases the advance rate by over 800 basis points based on the $75 mi
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