- 1Channel's equipment finance platform has surpassed $1B in originations in under four years.
- 2KBRA upgraded two classes of notes on the 2022 ABS and three classes on the 2023 ABS deals.
- 3KBRA also affirmed one class of notes on the 2023 transactions.
Channel, a Minnetonka, Minnesota-based independent provider of equipment finance and working capital for small businesses, said its Equipment Finance (EF) platform has surpassed $1 billion in originations in under four years. The company announced the milestone on Dec. 9, 2025.
Built from scratch
The EF division was built de novo beginning in late 2019, moved from concept to soft launch in 2020 and officially entered the market in early 2021. Channel says it did not acquire a portfolio or inherit legacy assets. The team designed credit strategy, processes, technology and partner relationships itself, and attributes the growth to disciplined execution, strong credit performance and a deeper partner network.
KBRA rating actions
Kroll Bond Rating Agency (KBRA) recently took positive actions on Channel's asset-backed securities:
- Upgraded two classes of notes on the 2022 ABS transaction.
- Upgraded three classes of notes and affirmed one class on the 2023 ABS transactions.
Channel says the actions reflect solid credit support, investor confidence and stable asset performance, and follow a series of ABS issuances that broadened its investor base.
CEO Adam Peterson said the investor response, including the KBRA upgrades, reinforces the stability of what the company is building, and that Channel plans to keep using the ABS market as it scales.
This team built the EF product from scratch and crossed a billion dollars in originations in just four years.
About Channel
Established in 2009, Channel lends exclusively through equipment finance companies. It says it has funded over $3 billion to more than 30,000 businesses in over 45,000 transactions. Besides its Minnetonka headquarters, it operates from Kennesaw, Georgia; Mount Laurel, New Jersey; Des Moines, Iowa; and Marshall, Minnesota.
Source reporting: deBanked.
