Fleet Financing Renews Vendor Program Agreement with Wells Fargo EF
MAR 27, 2018 - 6:20 am
Fleet Financing Resources renewed its vendor partnership with Wells Fargo Equipment Finance (WFEFI). The vendor program financing agreement includes a $105 million credit facility with $45 million of the total provided via a combination of ultimate net loss and recourse pools.
The valued vendor program, initiated in 2003, has funded nearly $300 million in titled transportation equipment ranging from new and used buses of all sizes, school transportation, vocational trucks and all livery related vehicles.
“Once again, we say thank-you to Wells Fargo Equipment Finance for their renewed and continued 16-year confidence in Fleet Financing Resources,” said Dave Reynolds, president and CEO of Fleet Financing Resources. “In both good times and challenged, they have remained firm in their commitment to maintain a successful partnership with Fleet Financing Resources.”
Fleet Financing Resources is a California-based commercial lender serving more than 4,300 fleet operator customers nationwide.
Mary Smith entered the equipment finance space at GE Capital in the early 1980s. “What started as a job turned into a career when I realized that no day is the same and this industry provides an opportunity to learn... read more
Ken Walters found his industry niche at CIT, where he worked for 18 years across many disciplines, including internal audit, equipment finance, capital markets and equity investment. He then led Emigrant Bank’s private equity investment group, Emigrant Capital, for seven... read more