Congress Financial

Congress Financial Corporation was a prominent asset-based lending (ABL) firm that provided debt financing, revolving credit facilities, and term loans to mid-market companies across various industries, including significant activity in the life sciences, biotechnology, and pharmaceutical sectors. Historically a subsidiary of CoreStates Financial and later First Union/Wachovia (now Wells Fargo), the company played a key role in providing working capital to emerging healthcare firms during the late 1990s and early 2000s. Notable clients in the healthcare space included Impax Laboratories, Zila Pharmaceuticals, and Medisyn Technologies. The company was eventually integrated into the asset-based lending divisions of its parent banks following a series of mergers.