Standard Premium Secures $115 Million Credit Agreement to Drive Continued Growth

Core Insights - Standard Premium Finance Holdings, Inc. has successfully closed a revolving credit facility providing up to $115 million in borrowing capacity, significantly enhancing its financial flexibility [1][2][3] - The new credit facility, led by First Horizon Bank, includes an initial commitment of $75 million and an additional $40 million accordion feature, which more than doubles the previous $50 million facility [1][2] - The agreement is expected to result in immediate cost savings due to a substantially lower interest rate compared to prior agreements, supporting the company's strategic initiatives and growth [1][2][3] Company Overview - Standard Premium has financed over $2 billion in property and casualty insurance policies since its inception in 1991 and currently operates in 38 states [4] - The company is actively seeking mergers and acquisitions of synergistic businesses to leverage economies of scale [4] Strategic Implications - The new credit facility positions Standard Premium for the next phase of growth, allowing for investments in innovation and enhanced service delivery to its growing client base [2][3] - The collaboration with First Horizon, Flagstar, and Cadence banks underscores the company's financial strength and commitment to long-term value creation [3]