Pearl Capital Business Funding, LLC, a NYC-based provider of direct financing to small and midsize businesses, closed on a $15m financing.
Atlanta-based Chatham Capital made the investment.
The company will use the funds to expand operations.
Led by Solomon Lax, Chief Executive Officer, Pearl Capital Business Funding provides innovative alternative financial solutions to the underbanked and unbanked business sector. Through its national origination platform, 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.
Pearl was acquired in 2015 by Capital Z Partners, a private equity investor focused exclusively in the financial services industry.