KLC Financial
KLC Financial is a US equipment financing and leasing company serving SMB and mid-market businesses across construction, manufacturing, aviation, medical, and restaurant verticals with loans up to $5M, operating as a subsidiary of Gulf Coast Bank & Trust since 2022.
- Company typePrivate
- Founded1987
- HeadquartersMinnetonka, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What KLC Financial does
KLC Financial, Inc. is a US-based capital equipment financing and leasing company founded in 1987 and headquartered in Minnetonka, Minnesota. Since 2022, it has operated as a wholly-owned subsidiary of Gulf Coast Bank & Trust Company. The company originates equipment financing (up to $5M), equipment leasing, working capital loans (up to $400K), and sale-leaseback transactions, primarily serving SMB and mid-market borrowers across five verticals: construction and manufacturing (primary), plus aviation, medical/dental, and restaurants/hospitality.
Operations run on a Leasepath Enterprise origination and servicing platform (deployed 2024) integrated with Salesforce CRM (since 2018). Underwriting and portfolio analytics are augmented by Tamarack's Data Mart and AI Predictor Tools (implemented 2021) for credit assessment and risk evaluation. The company finances equipment nationwide through a sales-led go-to-market motion that combines a direct business development team, vendor financing programs (where equipment manufacturers/OEMs refer customers), and bank referral partnerships. Pricing is transaction-based, with revenue generated from lease/loan interest, origination fees, and syndication-related spread; terms extend up to 84 months with application-only approvals available up to $400K.
KLC is led by CEO Shannon Smith (formerly Chief Credit Officer, named CEO April 2026) following founder-era CEO Spencer Thomas's transition. Other C-suite officers include CFO Kevin Kelly, COO Amy Lewis (promoted August 2025), and CRO Brett Sorensen (promoted August 2025). The company financed $235 million in equipment in 2023 and reached a $500M+ managed portfolio milestone in 2024, with a team of over 50 professionals supporting credit, capital markets, syndications, operations, collections, and account management functions.
KLC Financial firmographics
Firmographics- Name
- KLC Financial
- Legal name
- KLC Financial, Inc.
- Website
- https://klcfinancial.com
- Company type
- Private
- Founded year
- 1987
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- KLC Financial is a US equipment financing and leasing company serving SMB and mid-market businesses across construction, manufacturing, aviation, medical, and restaurant verticals with loans up to $5M, operating as a subsidiary of Gulf Coast Bank & Trust since 2022.
- Ownership category
- akta.pro rank
KLC Financial industry classification
Industry- Product category
- Equipment Financing and Leasing
- NAICS
- Sales Financing (52222), Sales Financing (522220)
- SIC
- Services-Miscellaneous Equipment Rental & Leasing (7350), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- SME Equipment & Asset Finance (Leasing, Fleet, Capex) (FSABABAH)
- akta.pro secondary industry
- Equipment Financing / Leasing (Venture-backed) (FSANAIAE)
Keywords
Where KLC Financial is headquartered
LocationHeadquarters
- HQ city
- Minnetonka
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
KLC Financial business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Others
Revenue model
- Equipment Financing and Leasing: Revenue generated from financing equipment purchases for businesses, including lease payments, interest income, and origination fees. Equipment financing up to $5M with terms up to 84 months.
- Working Capital Solutions: Short-term working capital financing up to $400K, providing additional revenue through interest and fees on revolving credit facilities.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Transaction based/ take rate | Multi-year contract | Equipment Financing |
| Transaction based/ take rate | Multi-year contract | Working Capital |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
KLC Financial product offering
Product offeringCore offering
KLC Financial provides capital equipment financing and leasing solutions to U.S. businesses, offering equipment loans and leases up to $5,000,000 with terms up to 84 months, working capital loans up to $400,000, and sale-leaseback transactions. The company distributes these offerings directly, through bank referral partners, and through equipment vendor programs, serving industries such as construction, manufacturing, aviation, medical/dental, and restaurants.
Product overview
KLC Financial provides a unified equipment finance platform centered on four core financing solutions: Equipment Financing, Equipment Leasing, Working Capital, and Sales Leaseback. These are complemented by Vendor Programs and Bank Partnerships that extend the company's reach through business channel partners. The company operates exclusively within the equipment finance industry, serving businesses nationwide across diverse sectors including construction, manufacturing, aviation, medical, transportation, and more.
Differentiator
Problem solved
Functional benefit
Products and services
- Equipment Financing Equipment financing solution providing funding up to $5,000,000 for new or used equipment, with application-only approval up to $400,000, terms up to 84 months, 100% financing available, and funding in as little as 24 hours. Targeted at U.S. businesses acquiring capital equipment.
- Equipment Leasing Equipment leasing solution with lease amounts up to $5,000,000, terms up to 84 months, funding in as little as 24 hours, custom payment structures, no additional collateral required, and end-of-term purchase options for businesses.
- Working Capital Working capital financing solution providing funding up to $400,000, approvals in as little as 24 hours, terms of 6 to 60 months, with flexible use of funds for payroll, expansion, operations, and no collateral required.
- Sales Leaseback Sale leaseback solution enabling businesses to unlock capital by selling owned equipment to KLC Financial and leasing it back, providing liquidity while maintaining equipment operations.
- Vendor Programs Vendor financing programs that enable equipment vendors to offer competitive financing options to their customers, with fast credit decisions, flexible terms, and co-branded marketing support to accelerate sales.
- Bank Partnerships Bank partnership program allowing banks to refer clients when traditional lending does not fit, with KLC Financial providing equipment financing solutions to retain and strengthen customer relationships.
Companies that use KLC Financial
Customer profileNamed customers4 records
Segments5 records
Ideal customer profiles6 records
KLC Financial technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature2 records
KLC Financial partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- LeasepathcoreLeasepath provides enterprise equipment financing platform technology to KLC Financial, enabling digital application processing, document management, and workflow automation for equipment financing operations.
Scale indicators4 records
Recent moves7 records
Expansion highlights1 record
KLC Financial competitors and assessment
Company assessmentBroad incumbents
- CIT Group: CIT Group (now part of First Citizens) is a large commercial bank with a substantial equipment finance franchise, serving mid-market and large-ticket equipment financing customers across multiple verticals comparable to KLC's broader addressable market.
- DLL: DLL is a large global equipment finance and leasing company serving multiple verticals including construction, agriculture, and healthcare, providing a broader scale incumbent comparable for vendor and bank partnership programs.
Direct peers
- Crest Capital: Crest Capital is a direct peer providing equipment financing and leasing solutions to businesses across the United States, with comparable ticket sizes and a relationship-driven sales motion.
- Balboa Capital: Balboa Capital is a direct competitor offering equipment financing, equipment leasing, and working capital lines to SMBs, with a sales-led approach and similar customer profile to KLC Financial.
- Ascentium Capital: Ascentium Capital is a direct competitor providing equipment financing and leasing to SMB and mid-market customers across multiple verticals, with comparable ticket sizes and a vendor partnership program model similar to KLC's.
- Pawnee Leasing: Pawnee Leasing is a direct competitor focused on small-ticket equipment leasing for SMBs, overlapping with KLC's lower-ticket range and serving similar vendor program channels.
- Lease Corporation of America: Lease Corporation of America is a direct peer offering equipment leasing and financing solutions to businesses, with similar vertical coverage and relationship-driven sales approach.
- Navitas Capital: Navitas Capital is a direct peer providing equipment financing and lease solutions to mid-market businesses, with comparable vertical focus and sales-led distribution model.
Emerging players
- Marlin Capital Solutions: Marlin Capital Solutions provides equipment financing to small and mid-sized businesses, with overlapping product offering but generally larger scale and broader commercial lending portfolio than KLC.
- Currency Capital: Currency Capital operates an equipment finance marketplace connecting SMBs with multiple lenders, representing an emerging digital-channel alternative to traditional equipment lessors like KLC.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights7 records
Customer concentration
KLC Financial social profiles
Digital presenceKLC Financial financial estimates
Financial estimateRevenue estimate
Valuation estimate
KLC Financial leadership team
Management profileNumber of profiles
Profiles9 records
KLC Financial subsidiaries and ownership
Company hierarchySubsidiaries1 record
KLC Financial funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
KLC Financial M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about KLC Financial
What does KLC Financial do?
KLC Financial provides capital equipment financing and leasing solutions to U.S. businesses, offering equipment loans and leases up to $5,000,000 with terms up to 84 months, working capital loans up to $400,000, and sale-leaseback transactions. The company distributes these offerings directly, through bank referral partners, and through equipment vendor programs, serving industries such as construction, manufacturing, aviation, medical/dental, and restaurants.
Is KLC Financial a public or private company?
KLC Financial is a private company. It is classified as corporate owned and is currently operating.
When was KLC Financial founded?
KLC Financial was founded in 1987. It employs 11 to 50 people.
Where is KLC Financial based?
KLC Financial is headquartered in Minnetonka, United States, in the North America region.
How does KLC Financial make money?
Two revenue lines are on record. Equipment Financing and Leasing is the primary driver. The others are working Capital Solutions.
Who are KLC Financial's main competitors?
Broad incumbents on record are CIT Group and DLL. Direct peers are Crest Capital, Balboa Capital, Ascentium Capital, Pawnee Leasing, Lease Corporation of America and Navitas Capital. Emerging players are Marlin Capital Solutions and Currency Capital.
Does KLC Financial have an API?
No public API is recorded for KLC Financial.
What industry is KLC Financial in?
KLC Financial's product category is Equipment Financing and Leasing. Its primary akta.pro industry code is FSABABAH, SME Equipment & Asset Finance (Leasing, Fleet, Capex), with a secondary code of FSANAIAE, Equipment Financing / Leasing (Venture-backed). Its NAICS code is 52222 and its SIC code is 7350.