Second Avenue Capital Partners Expands Credit Facility to $700 Million with Huntington Business Credit as Administrative Agent

BOSTON, Massachusetts – October 6, 2025 – Second Avenue Capital Partners (“SACP”), a leading provider of asset-based lending solutions, today announced a significant expansion of its existing credit facility with Huntington Business Credit (“HBC”). The facility was upsized by $235 million, bringing the total to $700 million, to support the firm’s rapid and ongoing growth trajectory. The syndicated transaction was oversubscribed, demonstrating strong lender confidence in SACP’s business model and performance.

The expanded facility includes a multi-currency sublimit, enabling SACP to fund transactions in both U.S. and Canadian dollars (CAD), further enhancing its ability to support cross-border clients and broaden its reach in North America.

Huntington Business Credit acted as Administrative Agent, Bookrunner, and Joint Lead Arranger. Bank OZK, Bank of Montreal, M&T Bank, and Wells Fargo Bank joined HBC as Joint Lead Arrangers, strengthening the consortium supporting SACP’s continued expansion.

In addition to the HBC facility, Pathlight Capital LP (“Pathlight”), a private credit investment manager, served as the Administrative Agent on a senior secured term loan facility for SACP. Proceeds from the term loan will be used to support working capital needs for growth purposes.

Second Avenue Capital Partners, a unit of SB360 Holdings and a Schottenstein affiliate, is a trusted leader in delivering innovative and highly flexible financing solutions to businesses across various industries. Since its inception, SACP has originated more than $2 Billion in credit facilities. Leveraging deep expertise from seasoned retail operators and product merchants, the firm provides tailored financial solutions that offer greater liquidity and adaptability than traditional capital providers.

“SACP’s consistent growth over the past seven years reflects the market’s strong appetite for our creative, partnership-driven capital solutions,” said Aaron Miller, President of SB360 Holdings. “This upsized facility with HBC, as well as the Pathlight term loan, marks an important milestone in our continued expansion and positions us to meet rising demand with even greater flexibility and scale. We’re grateful for the continued support of Huntington Business Credit – a consistent partner to our broader organization – and our other bank partners. Their confidence empowers us to thoughtfully grow our platform and extend our impact as we help middle-market businesses navigate complexity and unlock opportunity.”

“This expanded facility reflects the confidence our lending partners have in SACP and validates the growth we’ve achieved across our platform,” said Mark Gallivan, Founding Member of SACP and Head of Investments and Operations. “We are proud to deepen our relationship with Huntington and welcome the continued support of a strong syndicate. We’re also very pleased to expand our partnership with Pathlight. The increased capacity will enable us to further execute on our strategy, broaden our reach, and continue delivering value to our borrowers and stakeholders.”

“We are pleased to lead and structure this transaction in support of SACP’s strategic growth,” said Lance Rapp, Senior Vice President, ABL Managing Director of Portfolio, at Huntington Business Credit. “The oversubscribed syndication speaks to the market’s recognition of SACP’s strong leadership and disciplined approach to credit. We look forward to continuing our relationship as they scale their platform.”

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About Second Avenue Capital Partners – Second Avenue Capital Partners, LLC, the lending arm of Schottenstein Affiliate SB360 Holdings, specializes in asset-based loans for the broader retail and consumer products industry. Serving middle-market companies, SACP leverages the experience of retail operators, product merchants, and lenders to deliver customized capital solutions. A unique merchant perspective allows SACP to recognize and unlock value in assets other capital providers often overlook or do not understand. The firm’s tailored financial solutions are a vital resource for clients seeking capital to effectuate strategy and achieve financial objectives. Learn more at sacp.com.

About SB360 Capital Partners – SB360 Capital Partners, a Schottenstein Affiliate, is a premier retail advisory, asset monetization, and equity investment firm serving businesses across North America. The firm invests equity capital to support growth opportunities, fund business turnarounds, and provide liquidity to businesses navigating change. SB360 encompasses business groups involved in advisory services, asset disposition, luxury diamond and jewelry assets, new store sets, and commercial real estate advisory and investment. The firm’s lending arm, Second Avenue Capital Partners, provides asset-based loans for middle-market companies. SB360’s principals hold extensive financial interests in internationally recognized retail and wholesale companies, consumer brands, financial service operations, and commercial, residential and industrial real estate properties. Visit sb360.com.

About Huntington Business Credit – Huntington Business Credit (“HBC”) specializes in senior-secured, asset based lending solutions for middle market businesses and large corporate clients with sales revenue from $50 million and greater, providing working capital and term loan facilities to support acquisitions, growth, recapitalizations, cyclical needs and more. HBC solutions provide greater liquidity for companies with high leverage, customer concentrations, operating issues and cyclical/seasonality tendencies. HBC’s national team is comprised of experienced asset based lenders, with senior management each having an average of more than 25 years of industry experience. HBC is a division of Huntington National Bank.

About Pathlight Capital – Pathlight Capital is a private credit investment manager dedicated to meeting the needs of companies that operate across a broad range of industries by providing asset-based loans secured on a first or second lien basis against tangible and intangible assets. Pathlight aims to provide creative financing solutions to allow management teams to access incremental liquidity for the purposes of funding working capital, debt refinancings, growth, acquisitions, dividends and turnaround strategies. For more information, please visit www.pathlightcapital.com.