February 12, 2013, Riverside, CA – Fleet Financing Resources, LLC. (FFR), announced today that they have renewed their vendor program financing agreement with Wells Fargo Equipment Finance Inc. (WFEFI). Initiated in 2003, the total funded volume has exceeded $140 million; the renewal also includes a $4 million increase in the total discretionary guidance amount.
“We have extended the maturity of our credit facility with WFEFI through November of 2013 and increased the credit line from $68 million to $72 million. Of the $72 million credit line,
$32 million is provided via an Ultimate Net Loss Pool facility” reported Dave Reynolds, President and Chief Executive Officer of Fleet Financing Resources. “Over the years, Fleet Financing Resources has secured numerous vendor programs from top tier lenders and WFEFI continues to be a premier partner as a result of their outstanding performance and overall excellence.”
Fleet Financing Resources offers financing and leasing of new and used titled transportation equipment, specializing in buses and trucks. Founded in 2002, Fleet Financing Resources has been successful in providing finance solutions to over 2,600 businesses nationwide. FFR offers a broad funding menu of products and services tailored to each client’s specific needs.