Our recent announcement about the launch of our printing financing division follows:
Propelled by our recent securitization of $200 million in finance capacity from several major banks, Direct Capital has announced the formation of a new division focused specifically on providing financing programs for vendors in the printing equipment industry.
According to Paul Ringuette, our Vice President of Sales, the decision to form the new division was based on our growing printing equipment vendor base and our successful execution in that vertical market. Ringuette also noted that timing was an important factor. “With the Print ’09 tradeshow approaching, we feel it is a great time to offer printing vendors a fresh, new program that will help them create big buzz at that show.”
Ringuette also addressed the void that currently exists in the market. “There is a lot of instability in the finance space right now for printing vendors,” said Ringuette. “Countless banks and equipment finance providers have shut down. Those still standing are strained by capital needs. This significantly limits their ability to provide creative and effective finance solutions to businesses and it is only getting worse. We’re armed and ready to step in and deliver.”
Ringuette said Direct Capital wants to speak with vendors that are seeking an innovative, long-term finance partner armed with capital to loan to businesses. “We have $200 million that we want to put on the streets to help businesses secure printing equipment,” said Ringuette. “Most businesses today are getting shut down by the banks; credit card companies are retreating on them; and the qualification levels they must meet have become higher than ever. If you are a vendor that needs a more robust program that will deliver high approval percentages at competitive rates for the next several years, we are prepared to commit to a relationship and we want to speak with you. My line is open. Call me at (603) 373-1342.”
Direct Capital, which provides a wide range of financial services, secured $100 million from Key National Finance and other conduits and banks in April. That came on the heels of the renewal of an additional $100 million line from DZ Bank. Direct Capital is now the 6th largest independent provider of equipment financing in the United States. They have been one of the few, if not the only, specialty finance companies over the last 9 months to secure new capital.
To learn more about the benefits of Direct Capital’s new Printing Finance Division, vendors should call Paul Ringuette directly (603) 373-1342.
Photo credit to hisks at http://www.sxc.hu/photo/1153295