Chesswood Group, a North American commercial equipment finance provider for small and medium-sized businesses, reported Q2/18 results for the period ended June 30, 2018.
Chesswood’s gross finance receivables grew to C$804 million ($611.5 million) in the quarter driven by record second quarter originations of C$114 million ($86.7 million), a 31% increase from C$87 million ($66.2 million) in the second quarter of last year.
Net income also increased to C$5.6 million ($4.3 million) from C$3.7 million ($2.8 million) in Q2/17, and to C$11.5 million ($8.8 million) in the first six months of this year compared to C$8.4 million ($6.4 million) in the same period last year.
Chesswood Group operates through two wholly-owned subsidiaries in the U.S. (Pawnee Leasing) and Canada (Blue Chip Leasing).
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