Clicklease LLC announces a $100 million line of credit with Credit Suisse
SALT LAKE CITY, Utah (December 10, 2020) —ClickLease LLC, an innovator in the commercial equipment finance industry announced the successful closing of a $100 million credit facility with Credit Suisse and Hudson Cove Capital. Sector Financial Inc., an affiliate of Credit Suisse, provided access to the Credit Suisse debt facility.
Clicklease, headquartered in Salt Lake City, UT, is disrupting small ticket equipment finance with its best-in-class technology and proprietary algorithms delivering instant credit decisions and funding, putting more control into the hands of its dealers.
“We couldn’t be more excited about our collaboration with Credit Suisse and the opportunity to work with the team at Sector Financial,” stated Bart Longson, CEO of clicklease. “We are passionate about servicing our existing dealer network and we look forward to expanding these relationships. This facility will allow us to continue to provide financing to the small businesses that purchase from them.”
This debt facility arms clicklease with the capital needed to deliver instant financing to our vendors and strategic partners for the foreseeable future. In addition to the $100 million, clicklease has access to a $50 million accordion with Credit Suisse.
Stephens Inc. represented clicklease in the capital-raising process.
Clicklease is a front runner in delivering commercial point-of-sale solutions to the commercial equipment finance market. Archaic systems and business practices have slowed adoption of digitalization and automation in this mature industry, creating a unique opportunity for disruption. Focused on helping undeserved businesses get the equipment they need to succeed, clicklease operates in the micro-ticket space, instantly decisioning and funding capital investments that produce a direct and immediate impact for these small business owners. Through innovation and automation clicklease delivers simple, fast and competitive financing solutions to entrepreneurs and their main street businesses. To learn more, visit clicklease.com.