Gig Harbor, WA -- Orion First Financial, LLC and Alliance Funding Group, Inc. have formed a new joint venture, Alliance Financial, LLC. The joint venture has established a revolving line of credit with PFF Bank and Trust (Rancho Cucamonga, California) to warehouse leases originated by Alliance Funding Group, Inc. The new venture bundles the warehoused leases into portfolios and the lease receivables are sold to Union Safe Deposit Bank (Stockton, California) under a permanent funding facility. Orion First Financial, LLC will provide lease servicing and administrative services to Alliance Financial, LLC and Union Safe Deposit Bank.
Brij Patel of Alliance Funding Group, Inc. said, "Orion offers us the experience in the support and servicing of portfolios giving us the opportunity to focus on our core competency of lease originations. Over the past five years we have originated over $150 million in leases and now we have a partner to provide treasury, risk management, and reporting functions which enhances our position in the small & middle market equipment leasing arena."
David T. Schaefer of Orion First Financial stated, "We welcome the addition of Alliance Funding Group to our joint venture program. This marks another step towards our goal to provide servicing and treasury functions to an exclusive group of lease originators."
The Orion First program is unique in that it provides a level of control and flexibility needed in today's leasing marketplace. As funders have made dramatic changes in underwriting standards, or exited the market altogether, originators are looking for funding alternatives that are more predictable and stable. The Orion First program allows participants to expand funding resources, improve transaction flow and build lasting value.
Orion First Financial, LLC located in Gig Harbor WA, provides primary and back up lease servicing, complete portfolio management, and advisory/consultative services to the commercial equipment leasing industry. Orion has differentiated itself from other lease servicing companies by not only offering the standard billing, accounting and tracking services, but by providing complete portfolio performance management and treasury functions.
Alliance Funding Group, Inc. is an Anaheim, California based equipment leasing company. Alliance is a full service equipment lessor that provides a broad range of cost effective and flexible lease programs for its customers through out the United States & Canada. For more information on Alliance Funding Group, Inc. visit www.alliancefunds.com or call (800) 978-8817.
