TFS, WEX launch equipment finance program

TFS Financial has launched an equipment financing program for customers of payments solutions provider WEX, giving trucking and transportation firms increased access to capital for equipment purchases.

The program enables WEX’s over-the-road customers to secure financing through TFS Financial’s multilender platform, which uses technology to match borrowers with finance providers based on factors such as credit profile, asset type and loan term, according to a TFS release today. The platform aims to deliver a faster, simpler experience compared with traditional bank lending while supporting a broad range of credit profiles.

“WEX is a globally respected platform that shares our focus on operational efficiency and customer experience,” TFS President Aaron Case stated in the release. “With this program, we’re enabling WEX customers to access capital through a modern, technology-enabled financing experience that helps them quickly acquire the equipment they need to grow their businesses. We’re excited to build a scalable program that delivers real value to WEX customers and partners.”

WEX, founded in 1983, offers fuel management, payments, billing and compliance solutions to the transportation industry.

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