Resurgence in demand for Capital and Financing from Small Businesses provide opportunity for Private Lenders
CARLSBAD, Calif., — Innovative Lease Services, Inc. (ILS) announces they have reached a milestone and have surpassed their 1,500th customer in 2013 with processed applicant requests in excess of $95 million in Small Business Equipment Financing and Working Capital, doubling figures from the previous year.
The year over year growth is in excess of 100% and cements the overall sense of confidence returning to the marketplace, at least on part for small business Owners. Since the onset of the Great Recession, ILS has become a Leader in the commercial lending market-place by helping to fill the void left by Banks slashing their lending to small businesses.
“With small business owners feeling more confident in the economic recovery, we have seen a marked increase in overall applications and originations, Andrew Nere, CEO, said. “In addition to the business owner who is replacing worn equipment and/or adding capacity, we have also seen an increase in Working Capital requests. Of particular note is the fact that approximately 40% of our applicants this year are new business start-ups seeking financing to begin operations. “
To accommodate the growth, ILS is moving into a new facility in October of 2013 and will be immediately adding the necessary staff, including financing professionals, documentation & funding managers, and administration personnel. With the increase in capacity from the expansion, ILS projects servicing a total of over 2,500 customers and processing over $150 Million in Small Business requests by the following quarter.
Innovative Lease Services, Inc. (ILS), founded in 1986 and headquartered in Carlsbad, California is a leading provider of Commercial Equipment Financing for businesses in all 50 states. ILS specializes in Equipment Leasing, Equipment Financing and Working Capital to small and mid-sized businesses in all 50 states and Canada. ILS is accredited by the Better Business Bureau (BBB), and are longstanding members of the National Equipment Finance Association (NEFA) and the National Association of Equipment Leasing Brokers (NAELB) organizations.
Article can also be found on Leasing News, http://leasingnews.org/archives/Sep2013/9_05.htm#innovative