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Northpoint Commercial Finance Exceeds $1B in Receivables in 2017

January 31, 2018, 07:10 AM
Filed Under: Industry News

This past year proved to be a momentous year for Northpoint Commercial Finance (Northpoint), a leading provider of multi-industry inventory finance solutions throughout the United States and Canada. During 2017, Northpoint point was not only acquired by LBC Capital, a division of Laurentian Bank, but also exceeded one billion dollars in receivables. 

Northpoint CEO, Dan Radley, continues to lead the company towards these initiatives and stated, “The cornerstone of the Northpoint value proposition is customer satisfaction. Our unique approach and solutions that were created with our customers in mind, have led to our growth.  The recent acquisition by LBC Capital will only strengthen our ability to drive future growth through innovative programs for the customers we serve.”

Northpoint’s inventory finance offerings drive sales, enhance cash flow, and improve profitability for both suppliers and dealers. After five years of impressive growth, Northpoint was acquired by LBC Capital during Q3 of 2017, an anticipated move as the business evolved. Laurentian Bank, which has been in business for over 170 years, came forward to provide the stability and financial strength with over $43 billion in assets. Not to mention a true cultural alignment, and strategic fit with their various financial products within LBC Capital.

President of LBC Capital, Eric Provost, explains that Laurentian Bank remains focused on facilitating the future evolution and success of Northpoint, and states, “Northpoint has a solid track record and unique expertise in originating, managing, and growing this size of a portfolio, but what we are anticipating is even more future growth in 2018 as we work towards a scalable end-to-end equipment finance platform. From these predictions, Northpoint is slated to remain a long-term and commanding force in this marketplace.”

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