- $107 Million Total in Equipment Financing Year-to-Date -
PHOENIX (August 21, 2019) – Western Alliance Bank, one of the country’s top-performing banking companies, announced that during the second quarter of 2019, its Equipment Finance Group funded more than $42 million in essential use equipment financing projects.
“The Equipment Finance Group has seen a solid response in the second quarter of 2019, which has resulted in the group providing more than $107 million in financing during the first half of the year,” said Senior Vice President, Brian Scott. “This is a testament to our commitment to finding effective financing solutions for borrowers in this space.”
Equipment finance is solidly growing, becoming a $1 trillion per year sector across a wide range of industries. Lending at Western Alliance Bank supports findings from the 2019 Survey of Equipment Finance Activity shared by the Equipment Leasing and Finance Association (ELFA), which indicated new business volume in the equipment finance industry continues its upward trajectory for growth. [ML1]
Additionally, the outlook for equipment and software investments among companies is expected to grow by 3.9% according to the Q3 update [ML2]to the 2019 Equipment Leasing & Finance U.S. Economic Outlook released by the Equipment Leasing & Finance Foundation (ELFF). The report also points to growth in medical equipment and software investment, two particularly strong industries in Arizona.
Western Alliance Bank, which recently reached a key milestone in the second quarter with $25 billion in assets, offers businesses the best of both worlds: the resources and sophisticated services and solutions of a large bank along with the flexibility, commitment and superior service of a more specialized institution. Specifically, the Equipment Finance Group works with other areas within the bank to bring different solutions to the table, including alternate financing solutions and also by working directly with original equipment manufacturers and their captive sources to provide financing solutions for their clients.
For more information about Western Alliance Bank’s Equipment Finance Group, connect with Brian Scott, Senior Vice President or Jon Brown, Vice President of the Equipment Finance Group:
Brian Scott: BScott@westernalliancebank.com, (602) 296-6649
Jon Brown: JBrown1@westernalliancebank.com, (602) 389-3522
About Equipment Finance
Western Alliance’s Equipment Finance, a national specialty banking group within Western Alliance Bank, Member FDIC, delivers capital markets solutions in equipment financing for a wide variety of industries and sectors, including healthcare, technology, manufacturing, software services, energy management, construction, transportation and more. The group’s in-depth experience combines with expert personalized service and innovative banking options to help clients nationwide meet their business goals. Western Alliance Bank is the primary subsidiary of Phoenix-based Western Alliance Bancorporation, one of the country’s top-performing banking companies. Western Alliance is ranked #1 regional bank by S&P Global Market Intelligence for 2018 and in the top 10 on the Forbes “Best Banks in America” list for four consecutive years, 2016-2019. A national presence with a regional footprint, Western Alliance Bank operates individually branded, full-service banking divisions and has offices in key markets nationwide.