Channel surpasses $1B in equipment finance originations

Equipment financier Channel surpassed $1 billion in equipment finance originations in less than four years, marking a milestone for the independent lender’s equipment finance platform.

Launched in 2020 and brought fully to market in early 2021, the business scaled quickly through strong credit performance, expanded partner relationships and strong execution, according to a Dec. 9 Channel release. The lender obtained $1 billion without acquiring any legacy portfolios.

Channel also received asset-backed securities rating upgrades from Kroll Bond Rating Agency on multiple deals, including two upgraded classes on its 2022 transaction and three upgrades plus one affirmation on its 2023 deals, according to the release. The moves signal solid credit support, stable asset performance and growing investor confidence following a series of successful ABS issuances.

Improved ABS market access will support continued growth, according to the release. The lender, which has funded more than $3 billion to more than 30,000 U.S. small businesses across many industries since 2009, focuses on delivering strong structures for investors while expanding access to capital for small-business customers.

Check out our exclusive industry data here.