Arvest Equipment Finance Makes Monitor 100 List of Largest Equipment Finance and Leasing Companies

Thursday, August 08 at 09:20 AM
Category: Arvest News

FORT SMITH, Ark. — Six years after its founding, Arvest Equipment Finance (AEF), a division of Arvest Bank, has grown quickly to be ranked among the top 100 largest equipment finance and leasing companies in the United States by MonitorDaily, the leading publication of the equipment leasing and finance industry. The Monitor 100 is published annually and ranks the largest equipment leasing and finance companies based on net assets and new business volume. The 2013 Monitor 100 report, published in the 2013 Monitor 100 Special Issue dated June 2013, ranks AEF 99th on the list in terms of 2012 assets.

Seven out of 10 U.S. companies will finance equipment through loans, leases or lines of credit in 2013, according to the Equipment Leasing and Financing Association (ELFA).  ELFA also stated that credit market conditions are expected to remain favorable for long-term equipment financing throughout the year.*

AEF’s 2012 net assets were up 2.4 percent from the previous year for a total of $123.5 million in loans and leases. The industry is experiencing overall growth, with net assets among the top 100 companies up 5.8 percent over 2011 to $548.8 billion.

AEF president and CEO, Kyle W. Gilliam said, “Financing equipment gives business owners flexibility and the option to preserve resources for other needs. At AEF, we have a close relationship with Arvest lenders, and so we’ve been able to successfully inform customers about the benefits of using AEF, such as the ability to finance up to 100 percent of the cost of equipment with no down payment. The connection with lenders and that personal relationship with our customers goes a long way in making our business model successful.”

*“Equipment Leasing and Finance Association Announces Top 10 Equipment Acquisition Trends for 2013.” January 14, 2013. http://www.elfaonline.org/news/press/pressreleases_report.cfm?ID=20750

Tags: Arvest Biz, Arvest Growth, Business Banking, Equipment Finance, Lending and Financing
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