Commercial Funding Partners teams with LTi Technology Solutions

Equipment financier Commercial Funding Partners has selected LTi Technology Solutions’ ASPIRE lease and loan management platform to manage middle- and back-office operations.

Commercial Funding Partners (CFP) will use ASPIRE to consolidate its servicing, billing and tax operations into one platform, according to an Aug. 13 LTi release. Automated billing and payment processing will replace manual invoicing and collections.

The platform also will provide a system of record for CFP’s capital markets activity, including discounted and sold transactions, as its syndication and securitization business grows.

CFP’s growing transaction volume had been making manual portfolio management, billing and contract processes increasingly difficult to maintain, creating risks around accuracy, compliance and closing times.

“We were not just looking for software to replace spreadsheets,” CFP President Traci Dolphin stated in the release. “We needed a partner who understood equipment finance well enough to help us stand up the kind of servicing infrastructure our credit facility requires, without slowing down the business that got us here. LTi’s experience with lessors at our scale, and ASPIRE’s depth across billing, tax, and capital markets, made this an easy decision.”

CFP is a direct lender that finances transactions ranging from $500,000 to more than $100 million across industries including manufacturing, medical, construction and power generation. More than 40% of its business comes from repeat customers.

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