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Wintrust Specialty Finance Achieves Solid First Half, 300% Growth Y/Y

August 04, 2020, 07:28 AM
Filed Under: Industry News

Wintrust Specialty Finance (WSF), a division of Beverly Bank & Trust Company, N.A., completed a successful second quarter and first half of 2020 by gaining market share with equipment vendor partners and supporting independent lessors’ liquidity needs through portfolio purchases.

With strong support from its parent company, Wintrust Financial Corporation, WSF originated nearly $185 million of new leases and loans in the first half of 2020, a growth rate of more than 300 percent from the same period in 2019. Additionally, many new origination partners have been added as WSF continues to strongly invest in equipment financing opportunities for small businesses during these challenging times.

Throughout the second quarter, WSF worked closely with its current customers to provide payment relief plans catered to meet their specific needs based on COVID-19’s impact on their industry. WSF continued to invest in its people by adding team members to support portfolio growth during the quarter.

“The material origination volume growth our team has achieved in the first half of 2020 is the result of disciplined underwriting and consistent service levels that have allowed us to remain strong through the global pandemic we find ourselves in today,” said David Normandin, CLFP, President and CEO of WSF. “I am proud of the incredible team we have built at Wintrust and the strong organizational values we exhibit in continuing to support our partners during this challenging time.”

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