New Joint Venture Provides Equipment Vendors With Resource For Financing As Banks Tighten Standands

Feb. 7, 2010 - PRLog -- Prolease of Newport Beach, CA and 5280 Financial of Littleton, CO have joined forces to create Numerica Capital Group, LLC.

Numerica Capital Group, LLC is the beneficiary of long standing lending relationships established by Prolease and 5280 Financial. The goodwill Prolease and 5280 Financial developed with these funding sources over the years allows Numerica to continue to extend credit to a broad range of businesses in these challenging times.

In addition, Prolease and 5280 Financial are members of the only lease finance cooperative, OneWorld Business Finance, and they will continue this association under Numerica Capital Group, LLC. This membership, along with its aforementioned relationships, gives Numerica an extensive range of lending capacity and provides equipment vendors more opportunities to finance their business customers.

Aaron Rios previously President of Prolease is excited about Numerica Capital Group, LLC “Numerica offers the opportunity to bring together two companies with similar business philosophies. It gives the independent rep a way to service and grow their vendor business in a declining funding environment.” He believes that Numerica is poised to collaborate with its reps to service their vendor business and bring tools beyond funding to enhance their business.

Skip Wehner, one of the founding members of 5280 Financial, is equally excited about the joint venture being well positioned as a permanent landing spot for tenured sales reps with vendor relationships. “With so many experienced sales reps being ‘orphaned’ by the larger lenders over the past year, we are very enthusiastic about the early success we have had integrating these reps into our system.  Our technology platform allows us to extend our architecture to reps in any location so that they can better serve their vendors.”

# # #

Numerica Capital provides equipment financing to businesses and help vendors with their customers who seek equipment financing. As a result of our lending relationships we can provide financing to a wide variety of business types and credit strengths.