North Star Leasing Reports 40% Funding Growth in 2019 – a New Company Record
February 28, 2020 – BURLINGTON, VT North Star Leasing Company announced that it achieved a 40% year-over-year increase in fundings in 2019, marking the largest year-over-year growth in their 40-year history.
Fiscal year 2019 saw North Star Leasing fund just shy of $70 million with $12.7 million funded through longstanding syndication partners. This compares to North Star Leasing’s 2018 funding level of $49 million, with $7 million funded through syndication. People’s United Bank along with Rockland Trust provides a $60 million Senior Revolving Credit Facility to support continued growth.
In 2019, North Star Leasing celebrated 40 years in business, and during that time span the company has perpetually seen year-over-year growth – with 2019 being the greatest to date. For the year, North Star Leasing processed 6,600 applications with an equipment cost exceeding $212 million.
“The North Star Leasing team has been extremely dedicated to delivering the excellence in financing services our vendors, prospects and brokers have come to expect, and it shows” said Dan Feeney CEO of North Star Leasing. “We anticipate this dedication and growth to continue through 2020 and beyond.”
About North Star Leasing Company
Founded in 1979, North Star Leasing is a provider of equipment financing solutions for businesses in a variety of industries. For the past 40 years, North Star Leasing has focused exclusively on helping businesses grow and expand by providing lease financing for mission critical equipment. North Star Leasing is a direct funder and takes a personalized approach to each application. North Star Leasing is owned by Copley Equity Partners. www.northstarleasing.com
About Copley Equity Partners
Copley Equity Partners is a private investment firm that partners with established lower middle-market businesses. Copley invests in companies across a broad range of sectors and is comfortable in both majority or minority ownership positions. Copley invests out of an evergreen, single-family office, capital base making the firm agnostic to the standard private equity fundraising cycle. Copley’s patient and flexible capital base allows the firm to focus on providing each portfolio company significant support post investment. www.copleyequity.com.