Alterna Capital Solutions

Alterna Capital Solutions is a specialty finance company that provides working capital solutions to small and medium-sized businesses across the United States. Founded in 2018 by Stan Carpenter, the company is headquartered in Winter Park, Florida, with several offices nationwide. Alterna Capital Solutions was established by Alterna Equity Partners to create an accounts receivable financing company.

The firm offers a range of customizable financial products designed to support business growth. These services include invoice financing with accounts receivable management, asset-based lending (ABL) based on accounts receivable, inventory, and equipment, and credit facilities up to $50 million. The company serves a diverse client base across various industries, including manufacturing, staffing, transportation, healthcare, and IT services. Its business model revolves around providing direct funding and leveraging a national network of referral partners such as bankers, CPAs, and attorneys to source clients.

In July 2023, Alterna Capital Solutions was acquired by Paychex, marking a successful exit for its parent private equity firm, Alterna Equity Partners. Before the acquisition, Alterna Capital Solutions had raised significant capital, including a $30 million asset-based credit facility from Wells Fargo Capital Finance in 2018 and a total of $15 million over six funding rounds. The company's leadership team possesses over 70 years of collective experience in the alternative lending and specialty financing sector.

Keywords: specialty finance, working capital, invoice financing, asset-based lending, accounts receivable management, credit facilities, small business financing, business growth capital, corporate finance, trade finance