The capital finance group of Bridge Bank closed on a $3 million credit facility for Innovative Lease Services (ILS), a Carlsbad, CA-based provider of commercial equipment financing and leasing services. Innovative Lease Services plans to use the funding to help grow its lease portfolio.
“We are pleased that Bridge Bank can help even more companies achieve their business objectives with this financing for Innovative Lease Services, which fills a unique niche in the industry,” Justin Vogel, senior vice president in Bridge Bank’s Capital Finance Group, said.
ILS provides financing for businesses to buy new and used equipment that costs between $5,000 and $5 million. As a private lender, the company offers significant flexibility to provide financial tools to small and medium-sized businesses across the United States and has helped businesses like breweries acquire brewing equipment, fitness centers buy new equipment and entrepreneurs purchase food trucks.
“We love to help companies find the funds they need to get off the ground and succeed,” Andrew Nere, CEO of Innovative Lease Services, said. “We are here to enable and support the American dream of business ownership.”
