FOR IMMEDIATE RELEASE – January 3, 2017
Gary H. Souverein, President
Pawnee Leasing Corporation
800-864-4266, ext. 222
Pawnee Leasing Corporation Celebrates 35-year Milestone in 2017.
Pawnee Leasing (“Pawnee” or “the Company”) is proud to announce that 2017 will mark its 35th anniversary as an independent equipment finance company.
Pawnee started as a niche, micro-ticket leasing company for start-up businesses and less traditional business credits and the Company continues to maintain an industry leadership position in these market segments. Today Pawnee also underwrites mainstream, prime commercial credits, providing its broker-customers with a “one-stop shop” for all their funding needs.
Pawnee’s President Gary Souverein noted; “It’s remarkable to look back on my twenty-four years with Pawnee and to see both how much has changed, and how much has remained the same. Our founder Rob Day, built an enduring foundation and culture for our business that continues today. He fostered a robust business model of going where others weren’t and having a quick, common sense, customer-focused enterprise and culture. Sam Leeper, our President from 1999-2005 was the architect of so many of the processes and systems that continue to be the backbone of our business and lead us through our successful initial public offering with Chesswood Group Limited (“Chesswood”). And in the last decade, our Chesswood and Pawnee Leasing CEO, Barry Shafran, has carefully guided us through the enormous challenges of the Great Recession as well the remarkable growth we have achieved since.”
Pawnee recently announced that its originations increased over 60% in 2016 and that Chesswood renewed and increased its credit facility to $250MM with its banking syndicate. “We are grateful to all of our broker/lessor partners who have provided us with high quality business, to our banking syndicate that continues to expand its relationship with us, and to our advisors and the many business partners that continue to support our business. Most of all, our success can be attributed to our rapidly growing professional and caring team of employees, who continue to focus on putting the customer first”, added Souverein.
Pawnee also recently released its full suite of products to its entire national broker/lessor network. “We now provide equipment financing to credit worthy commercial customers in all credit brackets and we expect to continue the strong growth we have been achieving since the credit crisis of 2008-2009” said Souverein.
About Chesswood Group Limited and Pawnee Leasing Corporation
Chesswood Group Limited, a public company traded on the Toronto Stock Exchange (TSX:CHW), operates in the financial services industry with equipment finance businesses in both Canada and the U.S.
To learn more about Chesswood, visit www.ChesswoodGroup.com
Founded in 1982, Pawnee Leasing Corporation is a market-leading national small-ticket equipment finance business specializing in lending to small and medium sized businesses in all credit profiles including more recently, “A” credit profiles, for transactions up to $200,000.
— 30 —