ENGS Commercial Finance closed on a new revolving credit facility for its factoring subsidiary, ENGS Commercial Capital. This new facility is with Wintrust Commercial Banking.
Tania Daniel, managing director for ENGS Commercial Capital, stated, “We are pleased to announce this transaction to support the expansion of the business. As with any finance organization, having an efficient capital structure allows us to provide competitive pricing and superior service to our customers. We have doubled business in the last three months and this facility will help support that continued growth.”
“Factoring is a key initiative to ENGS’ overall strategy to expand and diversify its business offerings,” commented Craig Weinewuth, CEO and president, ENGS Commercial Finance. “Wintrust Commercial Banking has been a great partner over the years, and we are very pleased to close this transaction to support our continued growth.”
ENGS is a 65-year-old commercial finance company and a provider of financial solutions to manufacturers, dealers and end-users of transportation equipment, industrial equipment and construction equipment, and a provider of insurance and working capital (factoring) products to its customers.
In 2016, ENGS was recognized by Monitor as the fifth largest private independent finance company in the U.S.
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One Reply to “Wintrust Provides Revolver to Support ENGS Commercial Capital”
My company started in 1977 as JMD Financial Corp ,dba Shore Funding Ltd, then in 1980 incorporated as Shore Funding Ltd .,Inc. a Sub “S” Corp ,has successfullu completerd 40 years as a niche broker serving the transportation industry ,specifically Motor Coaches,School BusLiquid & Dry Bulk Transportation company’s with originations between $65 and $ 75 MM annually. We are always seeking new lending sources for our 70% repeat customer base. If interested in doing business please contact me.