Broadway Leasing, a niche financier in Sydney, plans to rope in its introducers as share-holders as it undertakes a new funding round.The Sydney-based firm aims to sell A$1.2 million in new shares and to double its capital.Established in 1995 by former Citibank executive John Dear, Broadway has specialised in "rentals". Its target market is the self-employed and small business owner looking for same-day decisions on loans of up to $30,000 to purchase business equipment.At this stage, its book of receivables is small, at only $1.3 million.The firm is now diversifying into operating leases, a niche made viable by the formation of the Personal Properties Securities Register."The aim of the business is to grow our receivables portfolio in rental income from the supply of small ticket income-producing equipment to customers who have held an ABN for two years and are GST registered, and [they] must own property in Australia," Broadway said in the information memorandum for its capital raising.Customers must have a "clear credit history which satisfies our internal standards, [and is] checked on various credit registers at the time of application for credit.""Broadway believes that this market is too small for the major lenders to service because of their high overhead structures and lack of flexibility in the rules they apply to granting credit which is not secured by mortgages."Most of our clients need immediate approval to enable them [to] purchase these goods and operate their businesses on a daily basis. They cannot wait, or do not have the time to apply [to]… a bank for small ticket finance.Broadway made the decision to enter the operating lease segment because the PPSR "should reduce write offs from the industry standard of 2.4 per cent to a lower level since goods under contract can be tracked, retrieved and sold to mitigate risk in the case of a default."