California-based Pasadena Private Lending (PPL) has surpassed $300m (£222.3m) in loans closed to date.
The firm, which is made up of a team of former bankers, offers $2-15m senior secured business loans to growing US companies with $1-5m in EBITDA.
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“Crossing this threshold reflects more than just capital deployed, it represents hundreds of stories, businesses empowered, and opportunities realized,” said Iain A. Whyte, founder and chief executive officer of PPL.
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“PPL’s credit process has resulted in zero losses and less than half of U.S. corporate debt defaults to date,” added Jason Schlecter, director of credit research at PPl.
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PPL focuses lending to companies controlled by entrepreneurs who are seeking to diversify their net worth, make an acquisition, buy-out minority shareholders or finance their growth.
