Gig Harbor, WA -- Orion First Financial, LLC and ClearView Financial, Inc. have formed a new joint venture, ClearView Funding, LLC. The joint venture has established a revolving line of credit with US Bank, NA (Spokane, Washington) to warehouse leases originated by ClearView Financial, Inc. The new venture bundles the warehoused leases into portfolios and the lease receivables are sold to Kitsap Bank (Port Orchard, WA) under a permanent funding facility. Orion First Financial, LLC will provide lease servicing and administrative services to ClearView Funding, LLC and Kitsap Bank.
Mike Arness, Founder and President of ClearView Financial stated, "The partnership with Orion First is an important strategic alliance for ClearView Financial. This step allows us to increase our funding capabilities but also provides ClearView Financial the control necessary to improve profit margins, increased company value and build a solid base for future growth."
David T. Schaefer of Orion First Financial stated, "We welcome ClearView to our joint venture program. ClearView is the type of forward thinking company that fits well with Orion First. Mike has developed an excellent marketing strategy and has produced quality originations since he started the company. We are pleased that Mike has seen the value of the Orion First joint venture program and we look forward to a long profitable partnership."
The Orion First program is unique in that it provides a level of control and flexibility needed in today's leasing marketplace. Today's competitive leasing marketplace demands that originators develop a level of control over fundings that provides them with stability, reliability and helps increase the value of their company. 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.
ClearView Financial, Inc. is an independent leasing company arranging equipment leasing and financing for businesses nationwide. ClearView Financial, Inc. is based in Ephrata, Washington. For more information on ClearView Financial, Inc. please visit www.clearviewfinancial.com or call (888)408-8805.
