Projects Financed in 2019 Total $184.5 Million to Date
PHOENIX (Nov. 22, 2019) – Western Alliance Bank, one of the country’s top-performing banking companies, reported that its Equipment Finance Group funded nearly $25 million in essential use equipment financing projects during the third quarter of 2019. The group has financed $184.5 million in projects to-date this year.
“As new technologies have emerged and companies continue the trend of investing – and reinvesting – in essential use tools and resources, the Equipment Finance Group has seen continued momentum in financing requests during the third quarter,” said Managing Director, Brian Scott. “This is indicative of the market trends that leading industry resources are reporting.”
The latest data from the Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index, which reports economic activity from 25 companies representing a cross section of the $1 trillion equipment finance sector, reveals overall new business volume for the third quarter of 2019 was up. Combined, July, August and September new business volume totaled $28.6 billion.
According to ELFA, the results tell a bigger story about the relatively strong fundamentals in the U.S. economy, including consumer spending that continues to fuel the market, that are creating a favorable environment for businesses to continue growth and expansion. This is propelling the equipment finance industry forward, despite economic headwinds from trade friction and other recent geopolitical events.
Led by its relationship-centric approach to doing business, Western Alliance Bank is a leader in finding effective financing solutions. Routinely working with other divisions within the bank to bring different solutions to the table, including alternate financing solutions, the Equipment Finance Group often works directly with original equipment manufacturers and their captive sources to provide financing solutions for clients.
For more information about Western Alliance Bank’s Equipment Finance Group, connect with Brian Scott, Managing Director 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.