ENGS Commercial Finance Co., (“ENGS”), a member of Mitsubishi HC Capital Group (“MHC”), announced financial results for FY2021, with record originations and portfolio growth.
In 2021, the ENGS equipment finance business originated more than $850MM of leases and loans and the working capital business, ENGS Commercial Capital LLC (“ECC”), purchased over $350MM of invoices. ENGS Insurance Agency LLC (“EIA”) also had record growth of 30%. On the portfolio side, ENGS receivables grew to a record high of $1.6B in owned and managed assets.
When asked about the sales growth in 2021, Craig Weinewuth, President and CEO of ENGS Commercial Finance Co., commented, “Despite the uncertainty of the COVID-19 pandemic, we set aggressive goals for our sales teams, and they exceeded their target; we could not be prouder of their contributions.” Weinewuth continued, “Technology has and will continue to play a key role in ENGS’ success, offering our vendors, partners, and customers the ability to quickly apply, track, and manage their accounts from a virtual setting, allowing a streamlined funding process and greater service for our valued customers. Pairing industry-leading technology with a strong and experienced sales, credit and operations team, we plan to accelerate this success into 2022.”
Looking to the future, ENGS aims to continue its development of innovative technological tools for its stakeholders, while creating flexible funding options to meet the needs of the expanding pipeline throughout the transportation, industrial, and construction verticals.
For more information on this press release, please visit our website at www.engsfinance.comor call us at (800) 369-2391.
ABOUT ENGS COMMERCIAL FINANCE CO.:
ENGS Commercial Finance Co. (“ENGS”), a member of Mitsubishi HC Capital Group (“MHC”), one of the largest and most respected brands in the world, is a market leading commercial finance company providing best-in-class, technology-enabled financing solutions to sellers and buyers of commercial equipment. ENGS is an industry expert committed to Service, Speed and Simplicity. The ENGS Digital FINTECH platform offers a 100% digital finance and service solution for greater efficiency and streamlined customer experience. Through ENGS Commercial Capital LLC, ENGS provides leading Working Capital products. ENGS is expanding its asset platform through non-lending businesses such as insurance solutions through ENGS Insurance Agency LLC. ENGS is also committed to supporting MHC’s global social goals by delivering financing offerings in the renewable and alternative energy markets.