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SPRINGS
FINANCIAL NEWS:
The company has announced
the following company changes to our organization.
Robert Brownstein:
Has been promoted to Secretary/Treasurer of Springs
Financial Services, Inc. In addition to these new
responsibilities, Robert is also in charge of Springs
Computer Network management, Internet Sales, Web Design,
and Vendor Links. Robert joined Springs Financial
Services in 2000 as a Leasing Specialist and Lease
Processing agent.
Staff Additions:
Springs Financial Services,
Inc. has announced our opening of our Chicago, Illinois
sales office.
On May 1, 2006, Springs
Financial Services, Inc. has opened our new Chicago sales
office. The office is up and running and doing an
excellent job. This staff of Ben Aylesworth, Dan
Thompson, Dave Poirier, and Vaughn Reeves has brought
excellent marketing skills to our company. Their vendor
and customer service has won praise from the new vendors
they are bringing on board. Vendor inquiries can be
directed via e-mail or please call them at
1-866-858-1118. In the first 6 weeks of operation, they
have signed up 15 new vendor partners and had a lease
application volume of $1,000,000.00.
Recent lease transactions:
Restaurant Expansion:
Six year old company looking for equipment for a new
location. The equipment financed included: Furniture/Fixtures,
Computers and Point of Sale Systems, Audio Visual
equipment. Customer was provided excellent terms and
rates for $80,000.00 in equipment being financed.
Fuel Truck/ Tanks/
Trailers: A customer of Springs for the past two
years, our customers business has grown over 35% in the
past 6 months. The total package is in access of
$225,000.00. Springs obtained five year terms, excellent
rate, and low out of pocket expense to get into the lease.
Medical Software: A
new customer to Springs Financial Services. This medical
doctor requested financing of $17,000.00 for medical
billing software. We were able to assist the doctor in
obtaining the lease for this equipment even though his
personal credit was not the best. Not only did we place
the lease with our underwriters, he was able to
participate in our credit repair programs.
New Forklift: One of
our vendors has a customer looking for a new forklift for
$60,000.00. The owner of the company has excellent
personal credit and would not pay normal start up rates
(high). This company was put into our application only
program (Hard Asset) for as little as three payments in
advance, no down payment, and rate of less than 14%.
Trucking Software:
Large Florida based (publicly traded) was looking for a
lease for $400,000 in trucking software. The transaction
was approved within 2 hours with one payment in advance
and a rate of 8.1%.
Restaurant Point of Sale
System: Restaurant has been in operation for 6
months. Owner had experience in the industry but
never owned a restaurant before. Their personal
credit is excellent along with strong management
experience. The $5,000.00 point of sale system was
completed in 24 hours at a 36 month term.
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