Madison Capital, a provider of equipment and vehicle financing for the small-ticket and middle-market segment, recorded its best growth year ever in 2016. Originations during the year increased by 50% over the prior year and assets under management grew by 24%.

Contributing factors included the development of new financing programs to address the unique needs of customers, opening a Midwest operation based in the Chicago area and re-engineering operations to accelerate the funding process and better serve customers.

In addition, Nancy Pistorio was named as the new president and is expected to further expand business opportunities in 2017.

“We had strong growth across a wide range of industries in 2016. This growth was fueled by several factors including increased demand for financing especially in the construction and transportation markets, client frustration with the increasingly lengthy lending process at many banks, and the opening of our Midwest regional office,” Pistorio said. “As we continue to expand in 2017, we expect to open additional regional offices across the U.S. to better serve our customers’ needs.”