NEW YORK, June 21, 2017 /PRNewswire/ -- Pearl Capital Business Funding, LLC, a leading provider of direct financing to small and midsize businesses, today announced that it has closed on a $15 million financing from Chatham Capital, an Atlanta-based private investment firm.
"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," said Solomon Lax, Chief Executive Officer, Pearl Capital Business Funding. "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 provides innovative alternative financial solutions to the underbanked and unbanked business sector. Through its national origination platform, Pearl's financings are available throughout the country to small and midsized business that are unable to access sufficient traditional financing from banks and non-banks lenders. This financing comes after Pearl was acquired in 2015 by Capital Z Partners, a leading private equity investor focused exclusively in the financial services industry.
Chatham Capital is a private investment firm that provides debt and equity solutions to companies throughout North America by focusing on building strong, long-term relationships with entrepreneurs, capital providers, and other intermediaries alike. Since 2001, Chatham has provided flexible capital solutions to over 180 firms to further their growth and allow ownership to realize its goals. Chatham's principals' 100+ years of experience in leveraged lending, private equity, investment banking, operational management, consulting, and accounting provide our portfolio companies and co-investors with the necessary expertise to weather the cyclicality of the lower-middle market and capitalize on expansion opportunities.
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