TBF Financial Buys $60MM in Commercial Debt from Online Lender

TBF Financial, a purchaser of non-performing equipment leases, purchased nearly $60 million in non-performing loans from a major online small business lender in recent transactions.

TBF bought the pools of post-charge-off loans as the highest bidder in transactions arranged through multiple brokers. In most cases, the company purchases directly from alternative lenders, equipment leasing companies and banks.

“We are seeing growing interest from online lenders who want to sell off commercial debt this year. It’s a smart strategy in any economic cycle because it provides lenders and lessors with immediate cash and a way to accelerate recoveries while protecting their customer relationships. Concerns about an economic slowdown are another reason for growing interest in commercial debt sales, as companies prepare to handle a rise in delinquencies and defaults,” commented TBF CEO Brett Boehm.

In the most recent deal, the $60 million in transactions included non-performing loans that had not previously been handled by collection agencies as well as post-agency accounts.

TBF Financial is a purchaser of non-performing equipment leases, commercial bank loans and online small business loans in the U.S. The company buys commercial accounts up to 4 years old from the date of last payment. This includes equipment leases, loans and lines of credit that have personal guarantees, no personal guarantees, are secured, unsecured, pre-agency, post-agency, pre-litigation and reduced to judgment.

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