Equipment financiers saw a mixed quarter as the lending environment remained tight.
Many equipment financiers await the possibility of a second federal rate cut, but some lenders are taking advantage of the current financial conditions.
Ansley Park Capital reaches $250 million in originations
Firstly, Ansley Park Capital, a subsidiary of Ares Management, finished the second quarter ended June 30 with $200 million in equipment finance new business volume, according to the company’s Oct. 2 release. Ansley Park Capital also reached $250 million in total originations since its launch in March.
The White Plains, N.Y.-based lender offers financing from $5 million to more than $100 million and continues to scale using $400 million in initial capital from the parent company, Eric Miller, president and chief executive of Ansley Park Capital, said in the release.
“Despite a challenging period of economic volatility marked by international friction, fluctuating interest rates and a pending presidential election, the team persevered,” he said. “Not only did our originations team drive significant market opportunity, but we also proved that we could operate at scale.”
Axis Auto Finance equipment originations drop 63% in Q4
Secondly, Axis Auto Finance, previous owner of Axis Equipment Finance, saw its equipment finance originations fall to $11.9 million, down 63% year over year, during the company’s fiscal fourth quarter, ending June 30, according to an Axis Auto Finance release. Fiscal 2024 equipment originations totaled $81.4 million, down 26.3% YoY.
Meanwhile, Axis’ managed equipment outstandings as of June 30 totaled $88.1 million, up 22.7% YoY, according to the release.
The equipment financer’s annualized realized credit loss rate for fiscal Q4 finished at 6.13%, up compared to zero during the prior year. The equipment finance annualized realized credit loss rate for fiscal 2024 was 2.35%, up compared to zero in fiscal 2023.
The drop in originations comes as Axis Auto Finance sold assets from Axis Equipment Finance to Armada Credit Group on Aug. 16, according to an Armada release. Armada acquired key personnel and relationships and assumed Axis’ position with certain business partners, the Armada release stated.
CSC Leasing achieves $1B in assets under management
Thirdly, custom equipment financing firm CSC Leasing achieved $1 billion in assets under management after more than 40 years in the industry, according to an Oct. 1 company release.
Richmond, Va.-based CSC Leasing achieved the $1 billion milestone in assets under management, as well as more than $2 billion in recorded transactions, according to the release. The company has nearly 300 active clients.
CSC offers equipment financing lease lines between $100,000 and $50 million across all industries, but specializes in agriculture, food and beverage, health care, manufacturing and technology, according to the company’s website.
Click here for more information and to register for the free webinar “Used equipment financing in 2025 as markets normalize,” taking place on Tuesday, Oct. 22, at 11 a.m. ET.
