New York based SME lender Pearl Capital has raised $15m in venture funding from Chatham Capital. Pearl Capital provides innovative alternative financial solutions to the underbanked and unbanked business sector.
“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.”