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Banks & Financial Sector: CapitalSource Buys MainStreet Lender

April 20, 2010 (FinancialWire) — CapitalSource Inc. (NYSE: CSE) said that it has acquired substantially all of the assets of SBA lender MainStreet Lender LLC for a total purchase price of $100 million.  According to CapitalSource, the asset purchase includes the acquisition by CapitalSource Bank of a $111 million portfolio of small balance SBA and conventional loans, and the acquisition by the parent company of a non-bank SBA license, servicing rights associated with the bank-acquired portfolio and intellectual property.

Additionally, MainStreet origination, underwriting and servicing personnel will join CapitalSource to manage and grow the SBA portfolio.  

Maryland-based CapitalSource is a commercial lender that provides financial products to middle market businesses and offers depository products and services in southern and central California through its wholly owned subsidiary CapitalSource Bank.

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