Targeted Lending Co., LLC has expanded its senior credit facility with Wells Fargo Capital Finance to $75 million, the company announced Tuesday.
“This increase, along with our strong capital structure, reflects Targeted Lending’s financial stability and ambitious growth trajectory,” said Michael Philbin, chief financial officer of Targeted Lending.
Stewart Hayes, managing director at Wells Fargo Capital Finance, said the bank is pleased to support Targeted Lending with the additional capital as the company continues to grow.
Targeted Lending specializes in equipment financing, offering loans of up to $250,000 for essential business equipment and vehicles. Its Originator-focused model provides tools and credit strategies that allow Originators to retain control over their deals.
“We appreciate Wells Fargo’s continued support as we capitalize on the industry’s gap in strategic funding for small-ticket equipment loans,” said Brian Gallo, CEO of Targeted Lending. “This expansion strengthens our commitment to helping businesses access the capital they need to grow.”
