January 23, 2017, Riverside, CA – Fleet Financing Resources, LLC. (FFR), announced today that they have renewed their long-standing, successful vendor partnership with Wells Fargo Equipment Finance Inc. (WFEFI). The vendor program financing agreement includes an $85 million credit facility with $45 million of the total provided via a combination of Ultimate Net Loss and Recourse Pools.
The valued vendor program, initiated in 2003, has funded nearly $250 million in titled transportation equipment ranging from new and used motor coaches, buses of all sizes, school transportation, vocational trucks, and all livery related vehicles.
“Wells Fargo became our first lending facility shortly after the founding of FFR fifteen years ago,” said Jim Krug, Director of Operations and Account Services. “To this day, they remain one of our most valuable primary sources and we are very grateful that they reciprocate by embracing Resources as a premier partner.”
About Fleet Financing Resources – FFR, a national lender, manages a current portfolio receivable of $150 million of new and used titled transportation equipment. Founded in 2002, Fleet Financing Resources has been successful in providing lease and finance solutions to over 4,000 businesses nationwide. FFR offers a broad funding menu of products and services tailored to each client’s specific needs.