Direct Capital Expands Medical Equipment Finance Division

Tue Jul 14, 2009 2:05pm EDT
 
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Company Allocates $68 Million to Finance Medical, Dental, and Veterinary
Equipment
PORTSMOUTH, N.H.--(Business Wire)--
Direct Capital, a leading nationwide provider of equipment leasing and
financing, has taken several key steps to expand its Medical Equipment Finance
Division. The company has announced that it will allocate nearly $68 million in
lending capacity to immediately provide more substantial financing programs to
vendors that sell medical, dental, and veterinary equipment. In addition, the
company has hired three new vendor sales executives with significant medical
equipment financing and leasing experience. 

"With the significant expansion of our finance capacity over the last several
months, we have identified several key verticals in which we want to
substantially increase our investments," said Paul Ringuette, Vice President of
Sales for Direct Capital. "Our Medical Equipment Finance Division is one of our
strongest performing and fastest growing vendor programs and we are excited to
build on our success in this sector." 

The company recently hired Regis Gallagher, Laura Anderson, and Erik Mohler to
develop new finance programs specifically for health care equipment sellers. All
three of these sales executives are well established in the medical equipment
finance space and the equipment leasing industry in general. With these hires,
the company now has sales offices in New York, California, Atlanta, Chicago,
Detroit, Ohio, Iowa, and New Hampshire. 

"We continue to see more and more medical equipment vendors experiencing pain in
securing reliable financing programs for their customers," said Ringuette. "This
is another void that we are well positioned to fill and we are excited to speak
with any vendors in this space that wish to deliver a more comprehensive
financing program." 

Direct Capital was recently named among the Equipment Leasing and Finance Top
100 companies, according to the Monitor, a leading industry trade publication.
Monitor also ranked Direct Capital as the 6th largest independent provider of
equipment financing in the United States. 

Direct Capital, which provides a wide range of financial services, secured $100
million from Key National Finance and other conduits and banks in April. That
came on the heels of the renewal of an additional $100 million line from DZ
Bank. They have been one of the few, if not the only, specialty finance
companies over the last 9 months to secure new capital. 

To learn more about the benefits of Direct Capital`s Medical Equipment Finance
Division, vendors should call (603) 373-1342. 

About Direct Capital

Established in 1993, Direct Capital provides specialty finance solutions,
including capital equipment leasing, commercial loans, and merchant cash
advances. Direct Capital markets its services through direct relationships with
businesses and through partnerships with vendors, dealers, and manufacturers of
capital equipment. Superb execution on its exceptional and unique direct service
delivery model is the cornerstone of Direct Capital's success in an increasingly
commoditized financial services industry. 

©2009 Direct Capital Corp. All rights reserved. 

Keyword Tags:

ct scanners, dental equipment, equipment finance, equipment financing, equipment
lease financing, health care, medical equipment, medical equipment rental,
medical equipment supplies, medical equipments, optical equipment, x-ray
machines 



Direct Capital Corporation
Paul Ringuette, 603-373-1342
Vice President of Sales
pringuette@directcapital.com

Copyright Business Wire 2009

 

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