KLC Financial

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.

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

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

• Equipment financing
• Equipment leasing
• Working capital loans
• Sales leaseback
• Vendor financing programs

Headquarters

HQ city

Minnetonka

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. 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.
2. Working Capital Solutions: Short-term working capital financing up to $400K, providing additional revenue through interest and fees on revolving credit facilities.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core 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.

Named customers4 records

Segments5 records

Ideal customer profiles6 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• LeasepathcoreTechnology or IntegrationLeasepath 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

Broad 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

• YouTubeyoutube.com/watch?v=Nki2m2VF3wM
• LinkedInlinkedin.com/company/klc-financial
• Xx.com/klcinc1
• Facebookfacebook.com/KLCFinancial

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about KLC Financial