Wellington Financial Fund III is now providing growth capital to U.S.-based companies, Wellington Financial LP said Wednesday.

The Toronto-based specialty finance firm provides operating lines of credit, term, venture and amortizing loans up to US$50 million. Target clients generally have trailing revenues in excess of US$5 million.

“There is no credit crunch at our firm,” says Mark McQueen, president and CEO. “In light of the challenges in the North American capital markets, now is the right time to offer our True Growth Capital in the United States. Many American CFOs prefer our term debt model to the traditional amortizing loan structure, and we are delighted to now be able to serve their needs in their home currency.”

Founded in 2000, Wellington Financial is currently deploying a US$400 million investment program via its institutional third fund.

Wellington Financial specializes in term and operating loans for companies focused in the knowledge-based sector of the economy, but also provides traditional subordinated debt and “stretch senior” lending across most industries. Wellington Financial is managed by a partnership controlled by fund management and Clairvest Group Inc.

IE