RIVERSIDE, Calif. – Fleet Financing Resources has renewed its vendor program financing agreement with Wells Fargo Equipment Finance Inc. through November 2013. Fleet Financing Resources also has 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,” said Dave Reynolds, president and CEO of Fleet Financing Resources, in a statement.
Initiated in 2003, the total funded volume from the financing agreement has exceeded $140 million; the renewal also includes a $4 million increase in the total discretionary guidance amount.
“Over the years, Fleet Financing Resources has secured numerous vendor programs from top tier lenders and Wells Fargo Equipment Finance Inc .continues to be a premier partner as a result of their outstanding performance and overall excellence,” Reynolds said.
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 succeeded in providing finance solutions to more than 2,600 businesses nationwide. FFR offers a broad funding menu of products and services tailored to each client’s specific needs.
Visit www.ffresources.com for more information.
Source: Fleet Financing Resources