Aequum Capital
Aequum Capital is a Chicago-based specialty finance lender providing senior asset-based and cash-flow debt facilities of up to $35 million to middle-market businesses across the United States, targeting turnaround, liquidity-challenge, sponsor-backed acquisition, and growth situations.
- Company typePrivate
- Founded2022
- HeadquartersChicago, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Aequum Capital does
Aequum Capital Financial LLC is a Chicago-based specialty finance lender founded in late 2022 that provides senior asset-based and cash-flow debt facilities of up to $35 million (and beyond) to middle-market businesses across the United States. The firm targets borrowers that fall between traditional bank capabilities and larger private credit markets, including companies in workout or turnaround situations, those facing liquidity or covenant pressure, sponsor-backed acquisitions, growth-stage businesses, and companies with seasonal working capital needs. Pricing is quote-based with loan sizes of $5-$35M+, tenors of 1-3 years, spreads of SOFR + 4.5% to 7.0%, and origination fees of 1.00% to 1.50%.
The core product portfolio spans six structured facility types: Asset-Based Revolving Credit secured by receivables and inventory, Hard Asset-Backed Facilities covering both machinery/equipment and real estate (65-80% LTV, 5-20 year terms), Stretch ABLs and Structured Overadvances that hybridize asset-based and cash-flow lending, Cash-Flow Supported Special-Situation Term Loans, and Carve-Out Financings for complex capital structures. All operations are supported by a proprietary cloud-based lending platform that handles underwriting, funding, servicing, and portfolio management, contributing to a reported 45-day average close and a 100% term sheet-to-fund conversion rate in 2025.
Aequum generates revenue primarily through net interest income on its loan portfolio and origination/advisory fees at loan closing. Capital is sourced from a $140 million warehouse line of credit led by Texas Capital Bank with Wells Fargo, Bank OZK, and M&T Bank, a separate $250 million debt facility from Wells Fargo closed in September 2025, and equity backing from Castlelake, LP. The go-to-market is relationship-driven direct origination supported by referral channels from banks, turnaround consultants, lawyers, and private equity sponsors. In 2024, the firm closed $152 million in new loan commitments and was recognized as a top 10 non-bank asset-based lender in the $5-$50 million space in both 2024 and 2025.
Aequum Capital firmographics
Firmographics- Name
- Aequum Capital
- Legal name
- Aequum Capital Financial LLC
- Website
- https://aequumcapital.com
- Company type
- Private
- Founded year
- 2022
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Aequum Capital is a Chicago-based specialty finance lender providing senior asset-based and cash-flow debt facilities of up to $35 million to middle-market businesses across the United States, targeting turnaround, liquidity-challenge, sponsor-backed acquisition, and growth situations.
- Ownership category
- akta.pro rank
Aequum Capital industry classification
Industry- Product category
- Specialty Finance / Asset-Based Lending
- NAICS
- Credit Intermediation and Related Activities (522), Sales Financing (52222)
- SIC
- Short-Term Business Credit Institutions (6153), Finance Lessors (6172)
- akta.pro primary industry
- Asset-Based Lending (ABL) (FSANADAD)
- akta.pro secondary industries
- Middle-Market Lending (FSANADAI), Direct Lending — Asset-Based Lending (ABL) (FSAHAJAE), SME Term Loans & Growth Capital (FSAKAGAB)
Keywords
Where Aequum Capital is headquartered
LocationHeadquarters
- HQ city
- Chicago
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Aequum Capital business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Interest Income: Aequum Capital generates revenue primarily through interest income on senior asset-based and cash-flow debt facilities extended to borrowers. Loans range from $5-35M+ with tenors of 1-3 years at SOFR + 4.5% to 7.0% spread.
- Origination and Advisory Fees: The firm charges origination fees of 1.00% to 1.50% on loan facilities, providing upfront fee income at loan closing. Additional fees may be generated through advisory and structuring services for complex transactions.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Senior Secured Debt Facilities ($5-$35M+) |
Go-to-market motion2 records
Distribution channels2 records
Marketing channels5 records
Aequum Capital product offering
Product offeringCore offering
Aequum Capital is a specialty finance lender that originates senior asset-based and cash-flow debt facilities of up to $35 million+ for U.S. middle-market businesses. Facilities are typically priced at SOFR + 4.5%–7.0% spread with 1.00%–1.50% origination fees and 1–3 year tenors, and span revolving ABLs secured by receivables and inventory, hard-asset loans backed by equipment and real estate, stretch ABLs, cash-flow term loans, and carve-out financings. The firm positions itself as the first-call capital provider for borrowers in growth, turnaround, refinancing, or seasonal situations where traditional banks are unable to deliver flexible solutions.
Product overview
Aequum Capital is a specialty finance lender offering a unified platform of senior secured structured loan products for middle-market businesses in the United States. The core product portfolio spans six distinct facility types: Asset-Based Revolving Credit (secured by A/R and inventory), Hard Asset-Backed Facilities (covering both machinery/equipment and real estate), Stretch ABLs and Structured Overadvances (hybrid structures combining asset-based and cash-flow lending), Cash-Flow Supported Special-Situation Term Loans, and Carve-Out Financings for complex capital structures. All facilities are supported by the company's proprietary technology platform, which enables efficient underwriting, funding, servicing, and portfolio management.
Differentiator
Problem solved
Functional benefit
Products and services
- Asset-Based Revolving Credit Facility (A/R and Inventory) Senior secured revolving credit facility backed by a borrower's accounts receivable and inventory, with the borrowing base recalculated regularly so companies can draw based on eligible asset values. Designed for middle-market businesses needing working capital, growth capital, or liquidity support where banks are unable to deliver flexibility.
- Hard Asset-Backed Facility (Machinery and Equipment) Loans secured by operational equipment such as manufacturing machinery, vehicles, or industrial tools, with advance rates based on Net Orderly Liquidation Value and amortization mirroring equipment useful life. Offered to middle-market borrowers with tangible operating assets.
- Hard Asset-Backed Facility (Real Estate) Loans backed by owned commercial property such as plants, warehouses, or offices, with advance rates of 65–80% of appraised value and terms of 5–20 years. Provides real-estate-secured liquidity to middle-market borrowers alongside ABL or cash-flow facilities.
- Stretch ABL and Structured Overadvance Facility Flexible financing that allows companies to borrow beyond standard collateral support by combining asset-based loans with cash-flow loans, supporting businesses with strong assets but unstable cash flow, or vice versa. Tailored for borrowers whose needs fall outside rigid bank ABL advance formulas.
- Cash-Flow Supported Special-Situation and Term Loan Term loans secured primarily by projected or recurring cash flow rather than hard assets, supporting growth capital, acquisition financing, or working capital needs. Includes special-situation loans for turnarounds, restructuring, or opportunistic transactions where traditional lenders will not engage.
- Carve-Out Financing and Complex Capital Structure Financing for companies selling or separating a specific business unit, asset group, or division from a parent organization, supporting strategic separation, restructuring, or layered debt arrangements. Targets complex mid-market carve-out scenarios where speed and structuring flexibility are required.
Quantifiable outcome
- Average 45-days to close
- +3 more outcomes
Companies that use Aequum Capital
Customer profileNamed customers15 records
Segments4 records
Ideal customer profiles2 records
Aequum Capital technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Aequum Capital partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Helios Strategic Advisors, LLCminorHelios Strategic Advisors, LLC advised on the $45MM credit facility for a Midwest manufacturing and distribution company, serving as financial advisor on the transaction.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
Aequum Capital competitors and assessment
Company assessmentDirect peers
- LQD Business Finance: Middle-market ABL lender focused on $5-50M facilities. Highly comparable to Aequum — same size band, similar ABL/cash-flow hybrid structures, and Aequum's CEO and COO are both former LQD executives.
- SLR Business Credit: Provides asset-based and cash-flow senior secured loans in the $5-50M middle-market segment, with a heavy focus on turnaround and special-situation lending — directly overlapping Aequum's core proposition.
- Crystal Financial (Crédit Agricole CIB): Middle-market ABL and special situations lender owned by Crédit Agricole CIB; competes for similar $5-50M facilities, second-lien and stretch structures, and turnaround transactions.
- MB Business Capital: Provides senior secured asset-based and cash-flow loans in the $5-50M middle-market space, including turnaround and special-situation transactions — a direct competitive overlap with Aequum's playbook.
Broad incumbents
- White Oak Credit Services: Diversified private credit platform with ABL, equipment financing, and real estate lending. Aequum's Controller previously served as Assistant Controller of White Oak Credit Services, and the firm is a meaningful incumbent in middle-market ABL.
- Pathward / Crestmark Bank: Provides asset-based lending, factoring, and specialty finance solutions to small/middle-market businesses; Aequum's Executive Director spent 16 years in sales at Pathward/Crestmark, and the bank serves similar borrowers.
- HTLF Specialized Industries: Middle-market ABL and factoring arm of Heartland Financial; Aequum Partner Geno Ruggles was previously VP of Underwriting at HTLF Specialized Industries, and the two firms compete for similar middle-market ABL deals.
- Twin Brook Capital Partners: Middle-market direct lender providing senior secured loans, including ABL structures. Aequum's Associate Director previously coordinated operations for direct lending transactions at Twin Brook.
- Wells Fargo Capital Finance: Large incumbent ABL and asset-based finance platform; a direct competitor for middle-market deals while also being one of Aequum's largest warehouse lenders — illustrates the dual bank/competitor dynamic in the space.
Emerging players
- SouthStar Capital: Specialty finance firm providing working capital and asset-based lending to small/middle-market businesses; Aequum's Business Development Officer was previously VP at SouthStar, and the firm competes in overlapping deal flow.
Market position
Weaknesses5 records
Competitive moat4 records
Key highlights6 records
Customer concentration
Aequum Capital social profiles
Digital presenceAequum Capital financial estimates
Financial estimateRevenue estimate
Valuation estimate
Aequum Capital leadership team
Management profileNumber of profiles
Profiles10 records
Aequum Capital funding detail
Funding detailFunding overview
Funding rounds4 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Aequum Capital M&A and investment
M&A and investmentM&A
Investments3 records
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Aequum Capital
What does Aequum Capital do?
Aequum Capital is a specialty finance lender that originates senior asset-based and cash-flow debt facilities of up to $35 million+ for U.S. middle-market businesses. Facilities are typically priced at SOFR + 4.5%–7.0% spread with 1.00%–1.50% origination fees and 1–3 year tenors, and span revolving ABLs secured by receivables and inventory, hard-asset loans backed by equipment and real estate, stretch ABLs, cash-flow term loans, and carve-out financings. The firm positions itself as the first-call capital provider for borrowers in growth, turnaround, refinancing, or seasonal situations where traditional banks are unable to deliver flexible solutions.
Is Aequum Capital a public or private company?
Aequum Capital is a private company. It is classified as private equity controlled and is currently operating.
When was Aequum Capital founded?
Aequum Capital was founded in 2022. It employs 11 to 50 people.
Where is Aequum Capital based?
Aequum Capital is headquartered in Chicago, United States, in the North America region.
How does Aequum Capital make money?
Two revenue lines are on record. Interest Income is the primary driver. The others are origination and Advisory Fees.
Who are Aequum Capital's main competitors?
Direct peers on record are LQD Business Finance, SLR Business Credit, Crystal Financial (Crédit Agricole CIB) and MB Business Capital. Broad incumbents are White Oak Credit Services, Pathward / Crestmark Bank, HTLF Specialized Industries, Twin Brook Capital Partners and Wells Fargo Capital Finance. SouthStar Capital is listed as an emerging player.
Does Aequum Capital have an API?
No public API is recorded for Aequum Capital.
What industry is Aequum Capital in?
Aequum Capital's product category is Specialty Finance / Asset-Based Lending. Its primary akta.pro industry code is FSANADAD, Asset-Based Lending (ABL), with a secondary code of FSANADAI, Middle-Market Lending. Its NAICS code is 522 and its SIC code is 6153.