Kalon Capital Launches to Shake Up Mid-Ticket Equipment Finance

STAMFORD, Conn. – April 13, 2026 – A new player has entered the equipment finance arena with a clear mission: to bring speed and flexibility to the industrial backbone of the U.S. economy. Kalon Capital LLC announced its official launch today, positioning itself as a specialized finance platform for mid-ticket equipment transactions. Backed by the private investment firm Bender Equity and led by distinguished industry veteran Nicole Torraco as CEO, the company aims to overhaul a market segment it describes as critical yet underserved by traditional lenders.

Kalon Capital is targeting companies in manufacturing, industrial services, transportation, and essential infrastructure, providing flexible financing solutions for equipment acquisition and modernization. Even before its official launch, the firm has been actively originating transactions, signaling its readiness to challenge the established order.

Targeting the 'Underserved' Mid-Market

The company's focus is on the "mid-ticket" market, a segment that typically covers transactions ranging from $250,000 to $5 million. This space is far from a niche; according to data from the Equipment Leasing & Finance Foundation (ELFA), the middle-ticket category accounted for a commanding 55.5% of all new business volume in the equipment finance industry in 2024. Despite its size, businesses seeking this level of financing often find themselves in a difficult position, caught between the automated, smaller-ticket processes and the highly customized services reserved for large corporate deals.

"Our mission is to bring clarity, speed, and partnership to an underserved segment of the equipment finance market," said Nicole Torraco, CEO of Kalon Capital, in the company's announcement. "Mid–ticket transactions are the backbone of the U.S. economy, yet they often face rigid structures and slow decision cycles from traditional lenders. Kalon Capital is built to change that."

Torraco's assessment points to a significant pain point for many American businesses: the need for a responsive capital partner that understands their operational realities. Kalon intends to fill this void by offering a relationship-driven model that moves faster than banks and provides more tailored solutions than smaller lenders, aligning financing with how businesses deploy and depend on their equipment daily.

A Veteran with a Proven Track Record at the Helm

Kalon Capital's ambitious goals are anchored by the extensive experience of its CEO. Nicole Torraco is a well-known figure in the finance world, bringing a formidable track record of strategic growth and operational leadership. Most recently, she was the President of FITTLE, the equipment finance business of Xerox, formerly known as Xerox Financial Services. Under her leadership, FITTLE managed over $3.5 billion in assets and generated more than $1.5 billion in annual originations.

Her tenure at FITTLE was marked by a transformative strategic shift. Torraco successfully evolved the unit from a traditional internal captive leasing firm, which primarily financed its parent company's products, into a global financing powerhouse with a diversified portfolio. A key achievement was growing the non-Xerox portion of the business from a standstill to over $400 million in annual originations. Before leading FITTLE, she served as Xerox's Chief Strategy and M&A Officer, executing seven transactions in three years that expanded the company's reach into new industries and geographies.

Her career also includes senior roles in investment management and financial consulting at prestigious firms such as Onex Credit, Babson Capital Management, and Rothschild & Co. This deep and varied background in both corporate strategy and hands-on financial management underpins the confidence of Kalon's sponsor. "Nicole's leadership, industry expertise, and operator first mindset make her the ideal executive to build this platform," commented Andrew Bender, Managing Partner of Bender Equity.

The Strategic Power of Operator-Focused Investors

The launch is sponsored by Bender Equity LLC, a Ridgewood, New Jersey-based private investment firm and family office that operates with the philosophy of being "built by operators, for operators." The firm specializes in asset-intensive and recurring revenue business models, making Kalon Capital a natural fit for its portfolio.

Bender Equity is led by Andrew Bender, a seasoned professional with over two decades of experience in specialty finance. His track record includes financing over $1.5 billion in equipment finance and private credit with less than 0.1% in credit losses—a testament to a disciplined and insightful underwriting approach. The firm’s strategy goes beyond simply providing capital; it brings an "operational playbook" and a robust network to its investments, partnering actively with leadership teams to foster long-term value.

This hands-on, strategic backing is central to Kalon's model. "The equipment finance market is evolving, and end users increasingly expect partners who understand the full life cycle of the assets they depend on," said Andrew Bender. "Kalon Capital is designed around that philosophy. By combining disciplined underwriting with a modern approach to asset life cycle management, we can help customers optimize utilization, reduce downtime, and ultimately strengthen their operations."

Forging a New Path in Industrial Growth

With its leadership and backing firmly in place, Kalon Capital is executing a strategy focused on direct engagement and strategic alliances. The company is pursuing both organic originations by working directly with end-users and building a network of strategic partnerships with manufacturers, dealers, and other sponsors to create a steady flow of opportunities.

Research indicates that the firm was already gaining traction before its formal debut. In early 2026, Torraco noted that Kalon had already secured originations with direct customers and several vendor partners, demonstrating early market acceptance of its value proposition. The company's lean structure and entrepreneurial culture are designed to eliminate the bureaucratic red tape that can stifle responsiveness at larger institutions.

By focusing on essential industries that require significant capital investment to grow and modernize, Kalon Capital is positioning itself not just as a lender, but as a strategic partner in industrial progress. Its platform structure is engineered to enable a rapid response to customer needs while simultaneously maintaining the rigorous credit standards and long-term asset perspective instilled by its sponsor, promising a blend of agility and stability that is rare in the mid-market finance space.