Allegiant Partners
Announces the Purchase
of a $12 Million Lease Pool
Friday, November 13, 2009
Allegiant Partners Incorporated and Dakota Financial LLC announced a completed purchase of $12 million in small ticket lease receivables from a failed community bank. The transaction involved the purchase of approximately 450 lease contracts located in 45 states.
The name of the seller was not announced due to confidentiality restrictions.
“We are well capitalized and continue to aggressively seek additional portfolio purchase opportunities between $2 million and $20 million. Allegiant and Dakota worked quickly to evaluate the assets, convert the leases to a new platform, close a separate agreement with an unrelated party with residual interests in the portfolio and ultimately effectuate a transaction in two weeks,” announced Michael Green of Dakota Financial.
“Dakota and Allegiant bring a perfect blend of work-out expertise, collections skills and big-ticket transactional experience to any complex equipment finance asset purchase,” added Chris Enbom of Allegiant Partners. “Allegiant and Dakota will service the contracts for the remaining two to four years of the contracts.”
San Rafael, CA-based Allegiant Partners (www.allegiant-partners.com) is an employee-owned commercial funding source started in 1998 that specializes in equipment finance for small businesses. Allegiant focuses on bank policy exceptions, hard asset transactions, story credits and well capitalized small business start-up financings. Allegiant Partners also owns First Star Capital, a direct source for commercial equipment financing and working capital.
Los Angeles, CA-based Dakota Financial (www.dakotafinancial.com) provides funding for customers that have prior bankruptcies, tax liens, judgments, repossessions, or slow pays. Dakota funds traditional equipment financing structures as well as sale-leasebacks, private party sales, start-ups, and trucking owner/operators.
Chris Enbom - Allegiant Partners
P: 415-451-4041
cenbom@allegiant-partners.com
Paul Foster - Allegiant Partners
P: 415-451-4046
pfoster@allegiant-partners.com
900 4th Street, Suite 200
San Rafael, CA 94901
www.Allegiant-Partners.com |