Bridge Bank Closes on $25,000,000 Credit Facility for Targeted Lease Capital
June 03, 2021
Costa Mesa, Calif.
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.”
Bridge Bank, a division of Western Alliance Bank, Member FDIC, delivers relationship banking that puts clients at the center of everything. Founded in 2001 in Silicon Valley, Bridge Bank offers a full spectrum of tailored commercial banking solutions, as well as specialized expertise focused on life sciences and technology and innovation companies, at every stage in their life cycle, through its offices in major tech hubs across the country. Bridge Bank also serves the private equity and venture capital communities and provides business escrow services. Bridge Bank is part of Western Alliance Bancorporation, which has more than $70 billion in assets. Major accolades include being ranked as a top U.S. bank in 2023 by American Banker and Bank Director. As a regional bank with significant national capabilities, Bridge Bank delivers the reach, resources and local market expertise that make a difference for customers.