Fleet Financing Resources Reports 32% Origination Increase in 2016
MAR 28, 2017 - 7:02 am
Fleet Financing Resources, a lender of new and used titled transportation equipment, announced its financial results for the fiscal year ended December 31, 2016.
Overview for 2016 as compared to the prior year:
Finance income increased 22% to $5.4 million.
Net income increased 31% to $1.9 million.
Total origination volume $75 million, up 32%
Commenting on the year-end audited results, Dave Reynolds, president and CEO, said, “We are extremely pleased with our 2016 results, the best in the 15-year history of Fleet Financing Resources. Record year outcome is consistent with the increase in finance and net income. Our success is attributed to the continued focus on our existing portfolio, the constant drive to expand our customer base and the tireless effort of our outstanding team of seasoned professionals. We are energized and focused to achieve our goals in 2017 – to continued measured growth of good quality business, maintaining exceptional portfolio performance and continuing to build our brand as a leader in the titled transportation finance sector.”
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