Targeted Lending expands Wells Fargo facility to $125M
Facility will support equipment finance loans up to $400K
Equipment finance provider Targeted Lending has expanded its senior credit facility from Wells Fargo Capital Finance to $125 million, setting the stage for origination growth.
The expanded facility, reflecting strong portfolio performance and disciplined underwriting, will enhance capital flexibility, according to a Targeted Lending release today.
“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,” Targeted Lending Chief Executive Brian Gallo stated in the release.
Targeted Lending specializes in small-ticket equipment financing, providing loans of up to $400,000 for equipment and commercial vehicles. The lender’s origination platform combines a conventional credit approach with technology tools designed to give originators greater control and transparency throughout each transaction, according to the release.
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