First American Equipment Finance Ranks in the Top 10 Among Independent Leasing Companies in U.S.

Monitor Releases the Top 25 Private Independent Leasing Companies for 2009

Fairport, NY, March 20, 2009 --( First American Equipment Finance has been ranked as the eighth largest independent lessor in the United States by Monitor, Inc., a leading publication in the equipment and finance industry. Despite a period of industry decline from in 2008, First American earned an 18% increase in new business volume. The company improved by four spots over last year's ranking.

The Top 25 list recognizes independent leasing firms for attaining significant new business volume in equipment-related loans and leases. Independent leasing companies are not associated with any particular supplier of equipment and their customers have the freedom to choose from the equipment supplier of their choice.

Monitor also publishes an annual list of the Top 100 largest leasing companies. First American has ranked in the Top 100 based on net assets and new business volume every year since 2004. There are more than 4,200 leasing companies in the United States.

CEO William Verhelle attributes First American’s growth to a unique, customer-focused business model. "We provide customized, high-quality equipment leasing and financing services to some of the leading educational institutions, hospitals, law firms, and corporations in the U.S.," he explains. "These large, sophisticated borrowers need leasing solutions tailored to specific accounting or business strategies. Our business model provides a higher level of service for these discerning customers."

Verhelle also believes First American’s financial discipline has insulated the company from turmoil in the credit markets. "Our high standards of excellence and business practices benefit our customers now more than ever," he says. "While other lessors are forced to reduce their product offerings and restrict lending, we continue to achieve profitable growth."

First American Equipment Finance is headquartered in Fairport, New York with offices in California, Arizona and Illinois. The company has customers in all 50 states.

First American Equipment Finance is an experienced lessor specializing in the healthcare, insurance, education and legal industries and is ranked among the 100 largest leasing companies in the U.S. and the Rochester Top 100 fastest growing companies. First American provides simple, innovative financing solutions for complex projects that combine products and services from multiple vendors and service providers into a single equipment lease. First American has a proven reputation for professionalism and service among customers throughout the U.S.

First American Equipment Finance
Alan Sikora