Gig Harbor, WA -- Orion First Financial, LLC and Capital Network
Leasing Corp. have formed a new joint venture, CN Funding, LLC.
The joint venture has established a revolving line of credit with
US Bank, NA (Spokane, Washington) to warehouse leases originated
by Capital Network Leasing Corp. 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 CN Funding, LLC and Union Safe Deposit
Bank.
Dustin White of Capital Networks stated, "Our relationship with
Orion First is an important step for our company. We feel that this
partnership will not only provide us with a reliable source of funds
for our originations but starts us down the road of building Capital
Network into a company with real and lasting value."
David T. Schaefer of Orion First Financial stated, "We are
pleased to be associated with Capital Network and welcome them into
our joint venture program. CN Funding, LLC is our fourth joint venture
with a small-ticket origination company providing further proof
that our unique business model adds value to our partners.
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.
Capital Network Leasing Corp. is an independent financial consulting
company, specializing in arranging equipment leasing and alternative
financing solutions for businesses and governmental entities through
qualified investors and lenders. Capital Network Leasing Corp. is
based in Sherman Oaks, California. For more information on Capital
Network Leasing Corp. please visit www.capitalnlc.com or
call 877-980-0558.
