Commercial Equipment Finance, Inc. ("CEFI"), a Puerto Rico based equipment finance company and ELFA member since 2009, closed a new $30.0MM lending facility with FirstBank Puerto Rico for its Puerto Rico based business and expansion to the State of Florida.

"We are very pleased to increase our warehouse facility and expand our market presence to the Florida market with a partner such as FirstBank. This transaction marks an important milestone in our continued growth as an Independent Finance Company" says Ricardo Rios Bolivar, CEFI's Co-Founder & CEO.

Commercial Equipment Finance, Inc was founded in 2009 by two tenured industry equipment finance professionals. Since inception, CEFI has financed and leased over $125,000,000 in commercial equipment.