Arvest Equipment Finance Makes Monitor 100 List

Monday, August 01 at 07:42 PM
Category: Business Banking

Congratulations to Arvest's Equipment Finance team for their continued growth and many successes in helping local businesses.  Formed only four years ago, they are now already a top 100 equipment finance and leasing company.  Arvest Equipment Finance has become an important resource for businesses looking for affordable financing to meet their needs. Read the official release below:

(July 27, 2011)—Just four years after being founded, Arvest Equipment Finance (AEF) has grown quickly to be ranked among the top 100 largest equipment finance and leasing companies in the United States by MonitorDaily, the leading publication of the equipment leasing industry.  A division of Arvest Bank, AEF ranks 96th on the 2011 Monitor 100 list in terms of 2010 assets.

According to the Equipment Leasing and Financing Association (ELFA), eight out of 10 U.S. companies lease some or all of their equipment, and leasing is the most popular method used to acquire each type of equipment. Almost any type of equipment can be leased, including commercial vehicles, computers, medical equipment, construction equipment and office furniture.

AEF’s 2010 net assets were up $10.5 million, or 16.1 percent, from the previous year for a record $75.8 million in loans and leases. However, net assets among the top 100 companies were down 3.6 percent to $513.7 billion. Only AEF and 14 other companies experienced double-digit growth during this timeframe.

AEF president and CEO, Kyle W. Gilliam said, “Equipment leasing provides options to business owners that need flexibility and the ability to preserve working capital. Because of the close relationship that AEF has with Arvest lenders, we’ve been successful at informing customers about the benefits of leasing, such as the ability to finance 100 percent of the cost of equipment with no down payment. That connection has gone a long way in making our business a success. In fact, we anticipate growing our portfolio by another $45 million to $50 million by the end of 2011.”
 

Tags: Business Banking, Equipment Finance
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