Resource America reported that its equipment leasing joint venture, LEAF Commercial Capital continued to grow its lease origination and servicing operations during the fourth fiscal quarter ended September 30, 2012.
The following highlights On LEAF Commercial Capital were excerpted from the news release:
. Lease and loan origination volume increased by 48% compared to the fourth fiscal quarter ended September 30, 2011; and
. LEAF?s commercial finance assets as of September 30, 2012 increased by 76% from September 30, 2011.
. In September 2012, LEAF announced a new securitization transaction, LEAF 2012-1, which securitized a portfolio of approximately $221.0 million of leases and commercial loans through the issuance of equipment contract-backed notes. This transaction is the second securitization of small ticket equipment leases and commercial loans that LEAF has sponsored since its inception. The leases and loans were originated by LEAF and are backed by various equipment, including office equipment such as photocopiers, printers and telecommunications systems, as well as technology, light industrial and healthcare-related equipment.
. In September 2012, LEAF expanded its funding capacity with the closing of a $150.0 million revolving credit facility with Credit Suisse AG, New York Branch. This additional $150.0 million of warehouse capacity will be used by LEAF to fund new lease originations through its various vendor channels.
To read the Resource America news release click here.
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Source: http://www.monitordaily.com/leaf-commercial-capital-q4-originations-up-48/
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