Archives for April 2017

Unlock Equity in Your Existing Equipment

We help businesses looking to refinance existing equipment and generate excess cash proceeds.

Could this be you?

We recently worked with a company that had existing equipment with a current market value of $5,000,000. They had a remaining finance balance of $3,000,000 and were making monthly payments of $135,000.

They turned to NEF to refinance the $3,000,000 balance, lower their monthly payment and generate $2,000,000 of cash/working capital so they could:

  • Purchase additional inventory and pay outstanding payables
  • Grow their business
  • Address the owners capital needs

 

Age of Equipment 3 years
Equipment Value $5,000,000
Refinance Amount $3,000,000
Incremental Capital $2,000,000

 

*Their new monthly payment is 30% lower than the original payment

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NEF appoints Susan O’Donovan as CFO

Nations Equipment Finance (“NEF”) is pleased to announce the appointment of Susan O’Donovan as Chief Financial Officer.  Susan joins Nations with over 15 years of asset management experience and 10 years of structuring and securitizing specialty finance portfolios.

Susan was most recently with Castleton Commodities International as the Executive Director, Head of Controller Project Management and Strategic Initiatives.  Susan’s past experience includes controllership and treasury roles with asset managers Plainfield Asset Management, Wexford Capital and Smith Management.  She was also involved in the growth and public offering of ContiFinancial Corporation who serviced a $20 billion portfolio of consumer and commercial loans.  Susan also served as the Manager of Financial Reporting for GE Capital.  Susan began her career as an auditor for PriceWaterhouse. She holds a BBA in Accounting from the Ross School of Business at the University of Michigan.

“We are excited that Sue O’Donovan has joined our company as Chief Financial Officer,” said Phil Carlson, CEO of Nations. “Her 25 years of finance and controllership experience along with her experience in the securitization market is going to be of great value to our company. We are glad that she is part of the Nations team,” Carlson added.

Nations Equipment Finance specializes in providing equipment leases and loans across a wide spectrum of asset classes including construction, transportation, manufacturing, aerospace and marine for small and medium sized businesses throughout the United States and Canada. Their transactions range in size from $1 to $50 million and focus on the underlying collateral value. Nations uses this collateral specific approach for both new and used equipment financings with terms between 3 and 7 years. To learn more about Nations Equipment Finance visit www.nationsequipmentfinance.com.

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Tom Fanelli to Retire as Chief Risk Officer of NEF

Tom Fanelli, Chief Risk Officer will be retiring from Nations Equipment Finance after fifty years in the Equipment Finance Industry. Tom started in the equipment finance business in 1967 as a collector with what was then known as General Electric Credit Corporation. He rose in the company to become a GE Capital Officer and the Chief Risk Officer for the Commercial Equipment Finance Division of GE Capital. He retired from GE in 2009 and joined a group of GE Capital colleagues in founding Nations Equipment Finance. Nations opened for business in 2010 and has grown to be one of the largest independent equipment finance businesses in the United States.

“Tom Fanelli is well known in the Equipment Finance Industry and we are sad that he is retiring,” said Phil Carlson, CEO of Nations. “He was an important member of our management team and helped us to build our company. We wish him all the best in his retirement,” Carlson added.

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