ElmBlue Equipment Finance secures $125M Wells Fargo credit facility
ElmBluetargets clients with at least $100K in annual revenue
ElmBlue Equipment Finance secured a $125 million senior credit facility from Wells Fargo Bank to support its nationwide expansion and fund a growing portfolio of commercial equipment-finance transactions.
The facility will help scale ElmBlue’s lending activity while supporting continued investment in automation, data science and AI-enabled credit tools designed to speed approvals and improve transparency for customers and vendor partners, according to a Nov. 19 ElmBlue release. Wells Fargo Capital Finance expects the partnership to support ElmBlue’s growth and its ability to deliver financing solutions across industries, including construction, manufacturing and commercial services.
Stratham, N.H.–based ElmBlue focuses on small and mid-sized businesses, according to the release. The additional capital strengthens the lender’s balance sheet and accelerates its strategy to build a more efficient, technology-driven financing platform.
ElmBlue Equipment Finance offers straightforward equipment financing and leasing options for business owners, with flexible structures designed to match cash-flow needs and simplify equipment acquisition, according to the company’s website. The company provides leases for short-term use and equipment finance agreements for customers who want to own equipment from Day One, with basic qualifications that include one year in business, a 640+ FICO score and at least $100,000 in annual revenue.
Register here for the free Equipment Finance News webinar “Tech-driven risk management: How innovation is reshaping equipment finance” set for Tuesday, Dec. 9, at 11 a.m. ET.
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