Targeted Lease Capital completed a $5 million incremental capital raise. This transaction follows the company’s inaugural capital markets issuance in 2018. The company will use the proceeds to leverage its credit facilities and support the growth of its business lending platform.

“We are pleased to announce the ability to raise additional capital during these uncertain times, which speaks to the track record of our team,” Michael Philbin, CFO at TLC, said. “The additional capital enables us to support small businesses throughout the country by providing much-needed equipment financing at attractive terms.”

Brean Capital served as sole placement agent for both notes.

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.