Bridge Bank Closes on $25,000,000 Credit Facility for Targeted Lease Capital
COSTA MESA, Calif., June 3, 2021 /PRNewswire/ — Bridge Bank today announced the closing of a $25 million credit facility with Targeted Lease Capital LLC (TLC), a Williamsville, New York-based company that provides equipment finance loans to small businesses.
Bridge Bank partnered with Ogden, Utah-based TAB Bank to increase the credit facility, which will be used to support TLC’s lending platform.
“TLC continues to experience significant demand for its financial products,” said Brian Gallo, chief operations officer at TLC. “The $25 million facility provided by Bridge Bank enables us to expand our support of small businesses throughout the country by providing flexible and affordable financing options for all of their equipment needs.”
“Bridge Bank is pleased to help Targeted Lease Capital ensure its customers have a seamless experience when they’re financing equipment purchases,” said Darin Cunningham, vice president in Bridge Bank’s Capital Finance Group. “We look forward to supporting TLC’s continued growth.”
The Capital Finance Group at Bridge Bank offers a full complement of asset-based lending solutions to a wide range of industries, including software, technology, staffing, hardware, manufacturing and more in all phases of their life cycle – from startups to larger, public companies.
“TAB Bank is committed to partnerships like the one we have developed with Bridge Bank,” said Brett Horwitz, managing director & head of originations-western region at TAB Bank. “We are grateful for the opportunity to work with the team at Bridge Bank to meet the working capital needs of one of their fast-growing clients and look forward to supporting Targeted Lease Capital as they execute on this next exciting phase in their growth strategy.”
About Bridge Bank
Bridge Bank, a division of Western Alliance Bank, Member FDIC, helps business clients realize their ambitions. Founded in 2001 in Silicon Valley, Bridge Bank offers a better way to bank for small- to mid-market businesses across many industries, as well as emerging technology companies and the private equity community. Geared to serving both venture-backed and non-venture-backed companies, Bridge Bank delivers a broad scope of financial solutions including capital, equipment and working capital credit facilities, venture debt, treasury management, asset-based lending, SBA and commercial real estate loans, ESOP finance and a full line of international products and services. Based in San Jose, Bridge Bank has 16 offices in major markets across the country along with Western Alliance Bank’s powerful array of specialized financial services. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation. One of the country’s top-performing banking companies, Western Alliance is again #1 best-performing of the 50 largest public U.S. banks in the new S&P Global Market Intelligence listing for 2020 and ranks high on the Forbes “Best Banks in America” list year after year. For more information, visit bridgebank.com.
About Targeted Lease Capital LLC
Targeted Lease Capital is a specialty finance company that provides equipment finance loans on a national basis to small businesses ranging from $5,000 to $250,000. To learn more about Targeted Lease Capital, visit www.targetedleasecapital.com or call 716-266-6700.
About TAB Bank
TAB Bank, Member FDIC, provides custom working capital solutions to commercial businesses across a wide range of industries. These solutions can be structured to meet the needs of companies at all stages of the business life cycle and during any economic conditions. TAB Bank does this through a variety of flexible Asset-Based Lending products including Asset-Based Revolving Loans, Accounts Receivable Financing, Lines of Credit, and Equipment Finance. TAB’s lending options can also be combined with a full suite of business banking and Treasury Management Services to provide holistic solutions to day-to-day business challenges. For more information, please visit www.tabbank.com.
SOURCE Bridge Bank