After seeing a jump of more than 27.9% in loans and leases from 2014 to 2015, AEF ended 2016 with $234.7 million in loans and leases. That’s a year-over-year increase of 25.1%. Additionally, AEF increased its number of contracts from 1,046 in 2015 to 1,816 in 2016.
“Our growth was a combination of increased volume from the commercial lenders and from our vendor production, which is an area we are focusing on for future growth,” said Eric Bunnell, AEF president. “Our experienced operations team did a fantastic job of meeting the demands for the increased volume, while the sales team was able to increase their joint calls with lenders and vendors, which led to new opportunities.”
In addition, AEF promoted John Bradford to sales manager, while Omar Portillo was hired as manager of credit administration and Rick Dierks as equipment finance specialist for Missouri and Kansas.
Matt Crawley and John Raymond Pitre also recently earned the CLFP designation. Arvest employs nine of the more than 400 CLFPs in the U.S. and Canada. That total ties Arvest for the sixth-highest number of CLFPs among all companies.
As the financial crisis and recession of 2008-2009 faded and the economic recovery lengthened, commercial banks and other financial institution “rediscovered” the equipment finance and leasing sector. This led to a flurry of M&A activity, and several independent players in... read more
The annual ELFA Lease and Finance Accounting Conference was held recently in Chicago, September 16-18. While it is well over three years since the new U.S. and international lease accounting standards, ASC 842 and IFRS 16, were issued, it is... read more