North Star Leasing Reports 40% Funding Growth in 2019
MAR 2, 2020 - 6:45 am
North Star Leasing achieved a 40% year-over-year increase in fundings in 2019, marking the largest year-over-year growth in its 40-year history.
Fiscal year 2019 saw North Star Leasing fund just shy of $70 million with $12.7 million funded through longstanding syndication partners. This compares to North Star Leasing’s 2018 funding level of $49 million, with $7 million funded through syndication. People’s United Bank along with Rockland Trust provides a $60 million senior revolving credit facility to support continued growth.
In 2019, North Star Leasing celebrated 40 years in business, and during that time span the company has perpetually seen year-over-year growth – with 2019 being the greatest to date. For the year, North Star Leasing processed 6,600 applications with an equipment cost exceeding $212 million.
“The North Star Leasing team has been extremely dedicated to delivering the excellence in financing services our vendors, prospects and brokers have come to expect, and it shows” said Dan Feeney CEO of North Star Leasing. “We anticipate this dedication and growth to continue through 2020 and beyond.”
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