Fleet Financing Resources (FFR), a boutique-style lender servicing the commercial vehicle industry, announced that it has entered into a vendor program agreement with Western Equipment Finance, a subsidiary of Western State Bank in Devils Lake, ND. The program agreement is aimed at extending FFR’s reach to commercial fleet manufacturers, dealers, and operators by offering another well capitalized credit facility with a financially sound reputation.
Dave Reynolds, President and CEO of FFR commented, “We will benefit from the additional financing from Western for its comprehensive suite of funding solutions in commercial vehicles which make them an excellent fit for FFR’s growing portfolio.”
“I’ve known Laurie Bakke, President of Western Equipment Finance, for many years and of the first-class organizations she builds”, said Dave Reynolds. “Thanks to our newly expanded program agreement with Western, we can do even more to help our customers grow their business well in to the future”.
The new vendor program is estimated to generate an additional $3 to 5 million dollars annually in funding for Fleet Financing Resources. The program will include an application only option, along with the full financial review for the financing of new or used commercial vehicles.