Gig Harbor, WA -- Orion First Financial, LLC and First Credit Corporation announced today that they have formed a new joint venture, First Credit Funding, LLC. The joint venture was established to purchases leases from First Credit Corporation. The joint venture has established a revolving line of credit and a permanent funding facility with First Mutual Bank (Bellevue, WA). Orion First Financial, LLC will provide lease servicing and administrative services to First Credit Funding, LLC and First Mutual Bank.
Ben Boys, Founder and President of First Credit Corporation stated, "It was important for us to establish more control over our funding and to move our company beyond being just a broker. The partnership we have formed with Orion First is the perfect way for us to gain the control needed to increase our profit margins, improve service to our customers and to enhance the overall value of First Credit Corporation. "
Ted Brownrigg of Orion First Financial stated, "First Credit Corporation is the type of company we look for to form our joint ventures. Not only is Ben a long time friend but he and his entire team at First Credit are quality people who have built an outstanding organization. We are proud to have the opportunity to partner with First Credit Corporation and looking forward to a prosperous future with them."
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.
First Credit Corporation is an independent leasing company located in Pensacola, FL that has been serving the leasing industry for over 20 years. FCC maintains a diverse lease portfolio by offering creative lease plans to a broad range of industries. For more information on First Credit Corporation please visit www.firstcredit.com or call (800) 326-4188.
