June’s Top Five Woodworking Equipment Lenders Account for 69.6% of Total

Statistical data for the woodworking equipment market provided by EDA showed the top 20 lenders in the segment, in the aggregate, filed financing statements covering a total of 69 woodworking equipment related filings during the month of June 2018.

The top five lenders, in filings, included:

  • Wells Fargo Equipment Finance (13)
  • Woodmaster Tools (13)
  • Biesse America (9)
  • Stearns Bank (4)
  • Tie- Bank of the West, Midland States Bank and Stiles Machinery (3)

The top five lenders, including the three tied for fifth, accounted for 69.6% of the total, or 48 filings. The three lenders that tied for first, Wells Fargo Equipment Finance and Woodmaster Tools, accounted for a 37.7% combined share of the total.

The top five woodworking equipment buyers (location/brands/filings) included:

  • Quality First Woodworks (California/Holz-Her, Torit/3)
  • Harbor Sales (Maryland/Schelling/2)
  • Weitzman Industries (Maryland/Holz-Her/2)
  • Elkay Interior Systems (Wisconsin/Homag/2)
  • Cutting Edge Cabinetry (Colorado/Oneida, Thermawood/2)

The EDA IndustryInsight trend charts provide monthly statistical data on UCC financing activity in the U.S. for sale and lease transactions of equipment.

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Terry Mulreany
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