SME lender Pearl Capital Business Funding picks up $15m

Pearl Capital Business Funding has raised $15m from financing by Georgia-based Chatham Capital.

The company provides financing for US SME’s that are unable to find financing through traditional banks and non-bank lenders.

Since its foundation in 2011, Pearl Capital has funded over 15,000 businesses with hundreds of millions of dollars in more than 150 communities, according to the company website.

Pearl Capital Business Funding CEO Solomon Lax said, “With the support of our outstanding financial partners we can continue to expand our mission of supplying funding to any small business with the desire for capital and ability to thrive.

“We understand that despite personal credit issues, many small business owners have triumphed in building successful businesses. Locked out of the traditional bank financing channels, those small business owners turn to Pearl Capital Business Funding to enable their dreams. By partnering with Chatham, we are able to make those dreams a reality.”

Pearl Capital was acquired by Capital Z Partners in 2015, and last year received a $20m funding from Arena Investors.

Copyright © 2017 FinTech Global

Enjoying the stories?

Subscribe to our daily FinTech newsletter and get the latest industry news & research

Investors

The following investor(s) were tagged in this article.