Neo Financial secures $185 million credit facility from credit unions

Neo Financial has closed a deal to receive $185 million in a credit facility from ATB Financial and a handful of credit unions that it says will support the growth of Neo’s credit card program. The news: Announced on Thursday, Neo said it had closed a syndicated “warehouse facility at $185 million.” In finance, a warehouse facility is an arrangement where companies can borrow against a pool of assets  without giving up equity or taking out a traditional loan. Neo said the lending capital would b