Edina, Minn.-based Scale Bank acquired Chattanooga, Tenn.-based factoring company Provident Commercial Finance.
The acquisition continues Scale Bank’s growth in the factoring market, which it offers through its scale funding division. Both Provident Commercial Finance and Scale Bank’s financing division finance staffing companies, oil and gas service providers and other industries.
Provident was founded in 2015 by Talley Clower and Jason Langston. The company has since grown to more than 900 customers.
“We found shared values and a strong business in Provident,” said Scale Bank President and CEO Todd Williams.