Allegiant Partners announced a line increase from $13 million to $16.5 million with Harris, a part of BMO Financial Group.

“We are very pleased to be expanding our relationship with Harris,” commented Chris Enbom, Allegiant CEO. “Allegiant has weathered the storm and has a very strong balance sheet. We thank Bob Bomben and his great team at Harris Bank for their hard work and deep understanding of specialty finance businesses.”

Separately, Allegiant announced the acquisition of a $1 million portfolio from a privately-held equipment finance company. “Allegiant has proven once again its ability to quickly purchase a small finance company portfolio,”stated Ben Carlile, president of Allegiant. “We are interested in purchasing more complex $1 to $15 million portfolios. We can either purchase the portfolios directly onto Allegiant’s balance sheet or through our partnership with Dakota Financial.”

San Rafael, CA-based Allegiant Partners is an employee-owned commercial funding source started in 1998 that specializes in equipment finance for small businesses. Allegiant focuses on bank policy exceptions, hard asset transactions, story credits and well capitalized small business start-up financings. Allegiant Partners owns First Star Capital, a direct source for commercial equipment financing and working capital. Allegiant also purchases small, structured portfolios through its affiliate Dunhill Leasing.