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ENGS Commercial Finance Sets New Origination, Portfolio Growth Records

February 08, 2022, 07:24 AM
Filed Under: Industry News

ENGS Commercial Finance Co., (ENGS), a member of Mitsubishi HC Capital Group (MHC), announced financial results for Fiscal Year 2021, with record originations and portfolio growth.

In 2021, the ENGS equipment finance business originated more than $850 million of leases and loans and the working capital business, ENGS Commercial Capital LLC (ECC), purchased over $350 million of invoices. ENGS Insurance Agency LLC (EIA) also had record growth of 30 percent. On the portfolio side, ENGS receivables grew to a record high of $1.6 billion in owned and managed assets.

When asked about the sales growth in 2021, Craig Weinewuth, President and CEO of ENGS Commercial Finance Co., said, “Despite the uncertainty of the COVID-19 pandemic, we set aggressive goals for our sales teams, and they exceeded their target; we could not be prouder of their contributions.” Weinewuth continued, “Technology has and will continue to play a key role in ENGS’ success, offering our vendors, partners, and customers the ability to quickly apply, track, and manage their accounts from a virtual setting, allowing a streamlined funding process and greater service for our valued customers. Pairing industry-leading technology with a strong and experienced sales, credit and operations team, we plan to accelerate this success into 2022.”

Looking to the future, ENGS aims to continue its development of innovative technological tools for its stakeholders, while creating flexible funding options to meet the needs of the expanding pipeline throughout the transportation, industrial, and construction verticals.

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