Fleet Financing Resources (FFR) reports strong growth in first quarter volume. For the period ending March 31, 2015, as compared to 1Q 2014, funded volume was up 22% at $12.5 million. Additionally, Interest Income increased by 10% while Net Income went up 17%.
FFR’s President and CEO Dave Reynolds comments for expansion: we are very happy with our first quarter results as it is always our lightest volume quarter. Return on volume has decreased to 6.8% from 7.5% the prior year, putting us in the same rate compression boat as the majority of the industry.
FFR, a national lender, manages a current portfolio receivable of $130 million in titled transportation equipment including motor coaches, buses of all sizes, school transportation, vocational trucks, and all livery related vehicles.