The Equipment Finance Division of Sterling National Bank finished the first quarter of 2014 with a record $107MM in gross funding ($98MM net) – doubling its volume compared to Q1 2013. The Q1 2014 figure represents the largest quarterly funded amount in the history of the division, dating back 20 years.

“Our streamlined credit approval process and team-based service model are attractive advantages for companies looking to finance their equipment needs,” said Keith Smith, senior managing director, Sterling National Bank.

In addition to setting a record in quarterly funding, Sterling’s average ticket figure has also steadily increased to over $1MM. Sterling’s equipment finance division has also increased its lending capacity as a result of its recent merger with Provident Bank.

Sterling National Bank, the principal subsidiary of Sterling Bancorp offers a line of commercial, business and consumer banking products and services.