Centra Funding completed its first securitization of equipment finance receivables, Centra Funding 2021-1.

The proceeds from this securitization amount to approximately $65 million and will be used for the continuing growth of Centra’s business. Wells Fargo Securities was the structuring agent and placement agent for the transaction.

“This is a testimony to the strength and continuing growth of Centra,” John Boettigheimer, president of Centra Funding, said. “Our aggressive but common-sense approach to financing even through the pandemic has positioned us as a leading American equipment finance company. This transaction is an important milestone in our development, has diversified Centra’s funding sources and significantly improved our cost of funds. Its success will aid Centra in expanding our product line, including our industry-leading new business offerings.”

Centra Funding was founded in 2006 and is an equipment finance company based in Plano, TX.