ClickLease Secures $100MM Credit Facility from Credit Suisse, Hudson Cove
DEC 10, 2020 - 7:35 am
ClickLease, a provider of commercial point-of-sale solutions to the commercial equipment finance market, closed a $100 million credit facility with Credit Suisse and Hudson Cove Capital. Sector Financial, an affiliate of Credit Suisse, provided access to the Credit Suisse debt facility.
ClickLease, headquartered in Salt Lake City, UT, is aiming to disrupt small ticket equipment finance via technology and proprietary algorithms that deliver instant credit decisions and funding.
“We couldn’t be more excited about our collaboration with Credit Suisse and the opportunity to work with the team at Sector Financial,” Bart Longson, CEO of ClickLease, said. “We are passionate about servicing our existing dealer network and we look forward to expanding these relationships. This facility will allow us to continue to provide financing to the small businesses that purchase from them.”
This debt facility provides ClickLease with the capital to deliver financing to vendors and strategic partners for the foreseeable future. In addition to the $100 million, ClickLease has access to a $50 million accordion with Credit Suisse.
Stephens represented ClickLease in the capital-raising process.
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