Targeted Lending
Overview
Targeted Lending Co., LLC is a financial services firm specializing in equipment financing for small businesses. Founded in 2015 and headquartered in Williamsville, New York, the company provides tailored financial solutions to meet the diverse needs of its clientele. The firm was established by Brian Gallo, Michael Philbin, and Renee Hazard, who have significant experience in the financial services sector. Targeted Lending Co. has raised a substantial $85 million in funding, with a notable $50 million debt financing round secured in 2024.
Recent Developments
- August 2024: Achieved a record-breaking funding month, increasing its portfolio by 65% year-over-year, marking the highest number of funded loans in the company’s history. This growth is attributed to the company's advanced technology-driven tools and strategic relationships with Third Party Originators (TPOs).
- January 2024: Secured a $50 million senior credit facility with Wells Fargo Capital Finance to reinforce its position in the equipment finance sector. This facility aims to provide crucial liquidity to small businesses navigating through challenging financial landscapes.
- 2023: Targeted Lending Co. announced the introduction of a portfolio purchasing desk and a new TPO portal. These initiatives are intended to expand its product offerings and enhance value delivery to stakeholders.
- 2023: Released the “Pick Your Own Pricing Calculator”, an innovative tool designed to personalize pricing strategies for its clients, thereby increasing customer engagement and satisfaction.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2015 |
| Headquarters | Williamsville, NY |
| Founders | Brian Gallo, Michael Philbin, Renee Hazard |
| Revenue | Not disclosed |
| Profits | Not disclosed |
| Key Investors | Wells Fargo Capital Finance |
| Industry | Specialized Finance |
| Number of Employees | 20 |
Early History
Targeted Lending Co. was established in 2015 with a focus on providing equipment finance solutions. The founders brought together extensive experience from their previous roles in financial institutions like Evans Bank and Blue Bridge Financial. This expertise allowed them to develop a robust platform that leverages technology to streamline the financing process. Initially starting with a small team, the company prioritized building strong relationships with vendors and clients across various industries, which facilitated rapid growth in its early years.
Company Profile and Achievements
Targeted Lending Co. operates as an independent direct lender, offering equipment financing for businesses needing immediate liquidity solutions. The company’s business model centers around a technology-backed approach, enabling swift financing processes often completed within 24 hours. Major achievements include:
- Investment in proprietary systems and Wall Street backing, which allows real-time tracking of deal status.
- Consistently breaking funding records, showcasing significant growth with a 65% portfolio increase in 2024.
- Launching innovative tools like the TPO portal and Pick Your Own Pricing Calculator, enhancing client service.
- Recognized as a leader in the equipment finance industry, notably through strategic partnerships that broadened their market reach.
Current Operations and Market Position
Today, Targeted Lending Co. stands as a prominent figure in the specialized finance sector, focusing on equipment financing for a broad array of industries, from construction to healthcare. The firm’s competitive advantage lies in its ability to offer personalized and flexible financial solutions tailored to the needs of small businesses. The company has facilitated significant market penetration through its capacity to adapt quickly to evolving market demands and maintain strong client relationships.
Conclusion
Targeted Lending Co., underpinned by innovative technology and experienced leadership, continues to thrive in the competitive landscape of equipment financing. Its strategic vision, combined with a hands-on approach to customer needs, positions it well for sustained growth. Looking forward, the company is likely to expand its offerings and further secure its market position through continued investment in technology and strategic partnerships.