Operations

Industry Lender Offers Financing Option for MCI Buses

Posted on February 6, 2012

LAKE SUCCESS, N.Y. — Advantage Funding announced this week it has a non-captive structured financing program in place with MCI Sales and Service, Inc. (MCI). The goal of Advantage’s program is to provide MCI with a strategic, reliable funding partner to finance and lease the sales of its pre-owned coach inventory.

“While many lenders have exited this space, we believe in the commercial coach industry, provided transactions are structured properly,” said Edward P. Kaye, president of Advantage Funding.

“One of our 2012 priorities is to help our customers upgrade and expand their fleets,” said Michael R. Denny, vice president and general manager of MCI Financial Services. “I believe Advantage Funding is the right lender to support our goals. This program gives qualified MCI customers the ability to purchase or lease coaches with easier access to financing in support of our industry.”

Advantage Funding will underwrite the credit, contract the financing arrangements, service the loans and leases, and report performance to MCI.

“We share MCI’s philosophy that customer service is a priority and believe this program, supported by our world class funding platform, will deliver results to their customers’ bottom line,” Kaye said.

Motor Coach Industries, headquartered in Schaumburg, Ill., is the largest manufacturer of inter-city highway coaches for the tour, charter, line-haul, scheduled-service, commuter transit and conversion markets in the U.S. and Canada.

Advantage Funding is a leading non-captive finance and leasing company to the U.S. ground transportation industry. It is a subsidiary of Marubeni America Corp., the multibillion multinational general Japanese trading company.

Source: Advantage Funding

Related Topics: Advantage Funding, bus market, charter and tour, fleet financing, MCI, vehicle financing

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