Bridge Bank announced its Capital Finance Group has closed on a $3 million credit facility for Innovative Lease Services Inc., a Carlsbad, California-based provider of commercial equipment financing and leasing services. Innovative Lease Services (ILS) plans to use the funding to help grow its lease portfolio.
“We are pleased that Bridge Bank can help even more companies achieve their business objectives with this financing for Innovative Lease Services, which fills a unique niche in the industry,” said Justin Vogel, senior vice president in Bridge Bank’s Capital Finance Group.
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ILS provides financing for businesses to buy new and used equipment that costs between $5,000 and $5 million. As a private lender, the company offers significant flexibility to provide financial tools to small and medium-sized businesses across the United States and has helped businesses like breweries acquire brewing equipment, fitness centers buy new equipment and entrepreneurs purchase food trucks.
“We love to help companies find the funds they need to get off the ground and succeed,” said Innovative Lease Services CEO Andrew Nere. “We are here to enable and support the American dream of business ownership.”
Bridge Bank’s Capital Finance Group offers a range of asset-based and factoring solutions, including accounts receivable, inventory and invoice financing, to provide lines of credit and working capital. The group’s expertise supports companies in manufacturing, professional services, retail and technology that are experiencing unusual market conditions that might hamper their ability to adhere to traditional covenants and credit structures.
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About Innovative Lease Services Inc.
Founded in 1986, Innovative Lease Services Inc. is a Carlsbad, California-based provider of commercial equipment financing for businesses in all 50 states. The company specializes in equipment leasing, equipment financing and working capital for small and mid-sized businesses. It is accredited by the Better Business Bureau and is a longstanding member of the National Equipment Finance Association and the National Association of Equipment Leasing Brokers.
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