Equipment Lessors/Brokers Still In Business

I'd like to make an announcement this morning that nearly every equipment lessor and broker I know, including myself and my 23 funding source partners are still here and still in business and doing business. Sounds rudimentary I know, but considering what the marketplace is doing and the failures of seemingly strong financial institutions, I thought I'd just let everyone know.

An independent financing company like mine (Southern Lending Solutions, LLC) uses funding source partners. The 23 I currently use all fall under one of 3 categories:

1) Companies that started as brokers and lessors and became Funders
2) Independent subsidiaries of a bank (standard commercial or Utah Industrial Bank)
3) Publicly traded companies

All are doing just fine as none of my bank subsidiary funders are the large banks whose failures have been the big news of the last couple weeks.

All 3 types of sources use banks and bank lines for between 10-25% of their funds that fund our deals so as things have tightened on them, they have tightened on us. So it is a little more difficult to do business than it used to be. However, due to working with wide varieties of credits and the use of structuring, we can still get many deals done and while defaults are up across the board, the industry is still going strong.