Fairport, NY, March 11, 2010 --(PR.com
)-- First American Equipment Finance was ranked as the sixth largest independent lessor in the United States by Monitor, Inc., a leading publication in the equipment and finance industry. Despite a period of industry contraction in 2009, First American increased its new business volume through organic growth. The company moved up the list by two 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 the equipment supplier of their choice.
Monitor also publishes an annual Top 100 list of the largest leasing companies. There are about 4,200 equipment leasing companies in the United States. First American consistently ranks in the Top 100, based on net assets and new business volume.
William Verhelle, CEO, attributes First American’s continued growth during a challenging economic environment to a unique, customer-focused business model. "We have developed an entirely new delivery and service model that better meets the unique needs of our large, sophisticated corporate borrowers. In addition, First American’s financial discipline has insulated the company from recent turmoil in the credit markets. During a period when some other finance companies have been forced to reduce their product offerings and restrict lending, our talented team continues to grow the business,” said Verhelle.
First American Equipment Finance is headquartered in Fairport, New York with customers in all 50 states. First American specializes in healthcare, insurance, education and legal industries and is ranked among the 100 largest leasing companies in the U.S. First American has a long-standing reputation for professionalism and outstanding customer service among large, sophisticated commercial borrowers throughout the U.S.