Since its founding in April 2015, Wintrust Commercial Finance (WCF), a division of Wintrust Asset Finance, has generated more than $5 billion in funded and managed volume, leading to a compound annual growth rate of 27.8%.
“We are pleased to reach this significant milestone,” Kirk Phillips, president of WCF, said. “This results from a dedicated team that delivers efficient, timely and creative solutions for our direct clients and capital market partners. As we look to the future, we always seek other market areas where we can provide value.”
Recent examples include the establishment of WCF’s commercial dealer services group, which supports OEM lease and rental fleets, and the renewable energy group, which provides capital to the renewables and distributed energy sectors.
“We consider ourselves very fortunate to have found a strong sponsor in Wintrust Financial Corporation (Wintrust), which allows us to conduct our business in an entrepreneurial culture,” Phillips said. “As a result, we like to refer to ourselves as a ‘bank-owned leasing company’ versus a leasing arm of a bank, an important distinction.”
Recent transaction closings include a $22 million term loan for offshore services support equipment originated via the direct sales channel; a $15 million loan facility for airport ground service equipment generated through one of WCF’s capital-markets customers; and several multimillion-dollar lines to dealers supported by transportation OEMs. In addition, WCF approved its first transactions in the renewable energy sector, which are scheduled to close in Q4/24.
“WCF remains committed to servicing the needs of its customers, whether with end-users of equipment through its direct origination channel or its partners in the capital markets,” Tom Forbes, executive vice president and chief commercial officer of WCF, said. “The core team has focused on generating quality assets across a broad spectrum of opportunities, and those efforts are evidenced by the diverse nature of the industries and equipment types represented in our portfolio.”
As part of its growth effort, WCF encourages employees to seek opportunities ranging from master’s and e-learning certificate programs at institutions such as Southern Methodist University and Cornell University, professional development programs hosted by the Equipment Leasing and Finance Association and leadership training, including STRIPES Leadership Program.
