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Targeted Lending and Wells Fargo Capital Finance Partnership

$50M Credit Facility Secured

This partnership highlights how Wells Fargo actively supports Targeted Lending's commitment to providing essential liquidity to small businesses, particularly in times when lending options are scarce.

Brian Gallo, CEO of Targeted Lending, actively thanked Wells Fargo for its support, praising their innovative approach and unwavering dedication to their clients.

Stewart Hayes, Managing Director at Wells Fargo Capital Finance, looks forward to fostering the future of this relationship, focusing on helping small businesses thrive and grow through this collaboration.

The agreement cements Targeted Lending's status as a key player in the equipment finance sector, showcasing the company's longstanding commitment to tailoring innovative solutions in this industry for over 25 years.

Wells Fargo, one of the largest banks in the U.S, backing Targeted Lending strongly affirms the company's credibility. This financial boost from a traditional institution will enhance the company's profile and draw in additional clients. This acquisition will enable Targeted Lending to expand its lending portfolio, diversify, and introduce new financial products.

Our Opinion:

For Alternative Funders, this partnership poses both opportunities and challenges. It could spur growth in the alternative financing industry, given the trust and credibility boost associated with the backing of a traditional bank. However, it also highlights the need for alternative lenders to manage the risks of association and control that come with such funding solutions cautiously. Ultimately, the decision is a strategic move that will shape the future of Targeted Lending and potentially influence upcoming trends in the industry.

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Headlines You Don’t Want to Miss

Fed Lets Emergency Bank Lending Program End Effective March 11 This decision comes despite requests from the Treasury to extend these programs, which were designed to ensure the stability of the financial system during the COVID-19 pandemic. The Fed has asserted that the programs provided a significant backstop, especially during financial market strains. It also argued that during the pandemic, these initiatives offered companies the necessary assurance to raise money independently.

Greensboro's New $12 Million Affordable Housing Lending Program has been approved The initiative aims to welcome developers, contractors, and entrepreneurs to build up affordable housing units in the city. The program money can be used to fund various prospective projects, including the construction of single-family homes or apartment complexes. The funding can also be utilized to refinance existing, aging multifamily units, which can ensure affordable rents for existing residents.

KeyBank and Partners Commit $50 Million to Boost Access to Capital in Underserved Communities The collaboration represents a significant move to support organizations with unique borrowing needs that conventional financial systems may overlook. The initiative intends to help organizations that are under-served by the traditional banking system, reach underserved people, contributing to social, racial, and economic justice. The initiative is a continuation of KeyBank's initial $40 billion National Community Benefits Plan.

Benefit Street Partners Attracts Record Capital with $4.7B for Fifth Direct Lending Fund The fifth fund exceeded its target of $3.5 billion, thus representing the largest direct lending fund raised by BSP. The new capital comes primarily from pension funds, insurance companies, endowments, foundations, and family offices. BSP will use the funds to provide commercial loans to mid-market companies in various sectors. BSP has also completed several secondary transactions to supplement LP returns and boost portfolio liquidity.

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