Resource America reported that its LEAF Commercial Capital equipment leasing joint venture continued to grow its lease origination and servicing operations during the first fiscal quarter ended December 31, 2012.
The company said lease and loan origination volume increased by 55% compared to the first fiscal quarter ended December 31, 2011; and
LEAF’s commercial finance assets as of December 31, 2012 increased by 69% from December 31, 2011.
Resource America noted that LEAF expanded and renewed for two years, its Guggenheim Securities arranged revolving warehouse line as of December 31, 2012. This revolving line of credit was expanded to $192.0 million with the other existing facility participants, Well Fargo Capital Finance and Natixis increasing their commitment to LEAF as well. This renewal increases LEAF’s overall warehouse capacity to over $340.0 million and these lines of credit provide liquidity to fund lease originations prior to utilizing the term securitization market for permanent financing.
Link to Resource America news release: click here.
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