Targeted Lending Co., a provider of equipment finance solutions, expanded its senior credit facility with Wells Fargo Capital Finance to $125 million, significantly increasing the company’s capacity to support continued origination growth.
“This expansion reflects the strength of our portfolio performance, disciplined underwriting, and the confidence Wells Fargo has in our business model,” said Michael Philbin, Chief Financial Officer of Targeted Lending Co., LLC. “The increased facility enhances our capital flexibility and positions us to scale responsibly alongside our Origination partners.”
Stewart Hayes, Managing Director at Wells Fargo Capital Finance, commented, “We are pleased to expand our relationship with Targeted Lending and provide additional capital to support their continued momentum in the equipment finance market.”
Targeted Lending Co. specializes in small-ticket equipment financing, offering loans of up to $400,000 for essential business equipment and vehicles. Through its originator-centric equipment finance platform, the company delivers a commonsense credit strategy and a robust suite of technology-enabled tools that allow Originators to maintain control, efficiency, and transparency throughout the transaction lifecycle.
Brian Gallo, Chief Executive Officer of Targeted Lending Co. added, “The expansion of our facility to $125 million underscores both the demand we are seeing in the market and the effectiveness of our originator-centric equipment finance platform. We appreciate Wells Fargo’s continued support as we address the industry’s need for reliable, strategic funding solutions for small and mid-sized businesses.”
