Parsonex Capital Partners Launches Credit Enhancement Facility for Traction Capital and Leasing

Parsonex Capital Partners launched a credit enhancement facility for Traction Capital and Leasing, a Class 8 truck lease origination company.

“We are here to help dealerships and drivers find financing alternatives that help put trucks and trailers on the road and business owners in the driver’s seat,” Dakota Forgione, CEO of Traction Capital and Leasing, said. “Traction is committed to giving small business owners the tools they need to be successful. Commercial drivers are the backbone of America and we are proud to be capitalizing their future. We are pleased to be working with Parsonex to grow the Traction Capital and Leasing business.”

Last year, trucking companies in the United States suffered a record deficit of 80,000 drivers, according to American Trucking Associations. Backed by Parsonex, Traction Capital and Leasing is helping to get more drivers on the road.

“There’s no silver bullet for fixing this,” Robert Costello, chief economist for ATA, said. “We need to get more people into the industry.”

“Given the logistical roadblocks the country is experiencing, getting more drivers into trucks through the credit enhancement facility with Traction creates a win-win solution for drivers and the country’s supply chain,” Fred Adams, chief investment officer of Parsonex, said.

“Parsonex has an amazing and experienced team and partnered with Traction’s leadership and industry expertise, I anticipate we will see significant growth in their business and I am thrilled to be involved in helping drivers get started during this unique time in our country,” Jonathan Miller, president and CEO of Parsonex, said.

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