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Centra Funding Closes $69MM Securitization

March 17, 2021, 07:00 AM
Filed Under: Industry News

Centra Funding, LLC announced the completion of its first securitization of equipment finance receivables, Centra Funding 2021-1. The proceeds from this securitization amount to approximately $69 million and will be used for the continuing growth of Centra’s business. Wells Fargo Securities was the structuring agent and placement agent for the transaction.

John Boettigheimer, Centra’s President, said, “This is a testimony to the strength and continuing growth of Centra. Our aggressive but commonsense approach to financing even through the pandemic has positioned us as a leading American equipment finance company. This transaction is an important milestone in our development, has diversified Centra’s funding sources, and significantly improved our cost of funds.  Its success will aid Centra in expanding our product line, including our industry-leading new business offerings.”

Centra Funding -- also known as “4-Hour Funding” -- was founded in 2006 and is a nationwide equipment finance company based in Plano, TX with offices across the United States.

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