Media Archive
IFC Credit Corporation Announces Key Changes in Senior Management
MORTON GROVE, Illinois, August 15, 2007 - IFC Credit Corporation today announced management changes of the company’s vendor and middle market business groups.
Rudy Trebels, President and CEO, stated that this involves several positions, including the promotion of Dave Farber to Senior Vice President of Sales / Marketing, Vendor Services.
In his new position, Dave will report directly to Rudy Trebels and will be focusing on advancing the company’s vendor program sales and marketing strategies.
“I am very excited about the opportunity to lead IFC’s vendor business, and look forward to contributing toward IFC’s rapid growth,” said Dave Farber.
Dave Farber has been with IFC Credit Corporation since December, 2005, and previously served as Vice President of Vendor Sales in directing the vendor group’s downtown Chicago office. Prior to joining IFC Credit Corporation, Dave Farber was Vice President of Sales for the Midwest Region for Vencore Solutions, LLC. Earlier, Dave had been a senior executive in various roles at FirstCorp, which was acquired by IFC Credit Corporation in 2003.
Kevin Collins, current Vice President of Vendor Sales will report to Dave Farber, and will be assuming increased responsibilities for managing the company’s regional sales personnel. Kevin Collins has been with IFC since October 2003, and has over 17 years of experience in the equipment finance industry with such notable companies as CIT, G.E. Capital, Bombardier Capital and SBC Capital.
Senior executive management of FirstCorp will report directly to the CEO. John Estok, the incumbent president of the division, will be leaving IFC later this month and relocating to the west coast to pursue other interests.
Trebels stated, “We will miss John’s leadership in our small-ticket group. He has made significant contributions to the company, and we wish him the best in his future endeavors.”
Trebels also announced the appointment of Scott Jarnac as Senior Vice President of Middle Market Sales. Scott comes to IFC with over 22 years of equipment finance experience and will be responsible for directing IFC’s middle market business origination efforts. Scott has held executive sales management positions with firms such as Summit Funding Group, M/C Leasing, CSI and AT&T Systems Leasing.
“I’m looking forward to working with the IFC team, and helping them leverage their middle market business opportunities to grow the division significantly over the coming years,” said Jarnac.
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IFC Credit Corporation Recognized Again Among Top Leasing Companies
MORTON GROVE, Illinois, August 01, 2007 - For the second year in a row, IFC’s continued growth and expertise in the equipment leasing industry has been acknowledged by The Monitor, the most widely read publication for equipment professionals. As in 2006, the 2008 “Monitor 100” issue has named IFC Credit Corporation as one of the top independent leasing companies in the United States.
“We had another banner year in 2006, and we are pleased to have been recognized by The Monitor for this achievement,” said IFC Credit CEO Rudy Trebels. “We look to continue our growth moving forward and expect to be among the nation’s top leasing companies again next year.”
IFC ranked 17th among independent leasing companies with 2006 lease volume of $111 million, up 4.8% from the year prior.
Among all companies, which include captive leasing organizations, bank affiliates, industrial affiliates, and independent lessors, IFC ranked 97th with net assets of $159 million, and 85th in lease volume.
Since 1974, The Monitor has been the leading publication serving the equipment leasing and finance industry. Cumulatively, companies on the Monitor 100 list reported total net assets of $508 billion and 2006 originations of $203 billion.
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IFC Credit Corporation Recognized Among Top Leasing Companies
MORTON GROVE, Illinois, June 23, 2006 - IFC’s continued growth and expansion has been acknowledged by The Monitor, whose latest issue has named IFC Credit Corporation as one of the top independent leasing companies in the United States.
IFC ranked sixteenth among independent leasing companies with 2005 lease volume of $105 million.
Among all companies, which include captive leasing organizations, banks and independent lessors, IFC ranked #96 with net assets of $147 million, and #83 in lease volume. The Monitor 100 list appears in the June 2006 issue of The Monitor journal.
Since 1974, The Monitor has been the leading publication serving the equipment leasing and finance industry. Cumulatively, companies on the Monitor 100 list reported total net assets of $462 billion and 2005 originations of $195 billion.
FirstCorp Celebrates First Quarter-Century as Leader in Small Ticket Leasing
MORTON GROVE, Illinois, February 23, 2006 - The FirstCorp Division of IFC Credit Corporation today announced the celebration of its twenty-fifth year in business. IFC Credit acquired the FirstCorp trademark when it bought First Portland Corporation in 2003, according to John Estok, president of IFC Credit’s Small Ticket Group.
“Twenty-five years is indeed a lifetime in the leasing industry, and we’re proud to have contributed to the ongoing success and longevity of a name like FirstCorp during this time period,” says Estok. IFC Credit is marketing its small-ticket business under the FirstCorp name today, according to Estok, and this business represents about 70% of IFC Credit’s business volume activity.
FirstCorp traces its roots to the 1981 founding of First Portland Corporation in Portland, Oregon, where that company started writing small ticket and vendor leases. Founding partners Len Ludwig and Arthur Levinson focused First Portland Corporation almost exclusively on small-ticket vendor leasing and soon gained a strong reputation within the small-ticket leasing arena. After 15 years and recognizing that the name First Portland Corporation was being viewed increasingly as tied just to Portland, Oregon, the company registered its trademark FirstCorp in 1995. In 2003, First Portland Corporation was sold to IFC Credit Corporation, and IFC Credit has since continued to position its small ticket business under the FirstCorp brand.
According to IFC Credit President and CEO Rudolph Trebels, FirstCorp’s focus on small-ticket funding was a perfect match for IFC Credit, which had long focused on small to mid-market leasing and vendor leasing.
“When we acquired FirstCorp, we knew the company would be a good fit. I think when we put the two together, we were able to make one plus one equal three.” According to Trebels, the FirstCorp brand was widely recognized as a leader in the small-ticket arena, and IFC Credit recognized that it could fully utilize that strong reputation while allowing the company to continue to grow within the IFC Credit family. Trebels notes that a $75 million conduit credit facility combined with IFC’s other credit facilities provided additional funding advantages for the combined companies.
“There’s a strong synergy inherent between small ticket and middle market. IFC Credit was actively involved in both, while FirstCorp was recognized just in the small ticket market. When you combine the two, they help one another,” explains Trebels.
According to Estok, small ticket transactions today account for approximately 70% of the business volume activity of IFC Credit, and of the 115 employees of IFC Credit, approximately 100 of them directly support the small-ticket business of the company. “That’s definitely our main focus at IFC Credit.” Estok adds, “We’re on a track to grow our business by 20% to 25% per year. Historically, the small ticket business has been a pretty vibrant one.”
IFC Vendor Division Expands Services in Illinois, Midwest
MORTON GROVE, Illinois, February 16, 2006 - The FirstCorp Division of IFC Credit Corporation has expanded the size and scope of its downtown Chicago office to reach additional technology equipment vendors throughout Illinois and the Midwest.
Dave Farber, Vice President of Vendor Sales for FirstCorp, says the downtown Chicago office previously focused exclusively on vendors located within the city. In December, FirstCorp moved to a new downtown location in order to double its small-ticket vendor services staff and size of its space.
The new office is at 230 W. Monroe, Suite 134, Chicago, Illinois 60606.
“The changes have allowed us to enhance service to vendors and lessees in Chicago and reach out to new technology vendors throughout Illinois and the Midwest,” Farber explains. “From Chicago, it’s just a short plane ride to most Midwestern cities. We can easily provide on-site education and training to equipment vendors throughout the Midwest.”
Vendor services professionals at FirstCorp help manufacturers provide flexible financing options and fast funding to dealers and customers. Farber says the office in downtown Chicago is staffed with twelve leasing professionals, and focuses on transactions ranging from $2,500 to $500,000 in value.
IFC Credit Corporation Renews $75 Million Credit Facility
MORTON GROVE, Illinois, December 20, 2005 - IFC Credit Corporation announced today that its wholly-owned subsidiary, FPC Funding II, LLC, has completed the renewal of its $75 million revolving credit facility with Autobahn Funding Company, LLC, an asset-backed commercial paper conduit sponsored by DZ Bank AG Deutsche Zentral-Genossenschaftsbank. The facility has a term of five years.
IFC President and CEO Rudy Trebels commented, “The Autobahn facility provides us with low cost funding and flexibility, which optimizes our competitive position in the small-ticket marketplace, and results in an improved customer experience.”
About IFC Credit Corporation Founded in 1988, IFC Credit Corporation is a Morton Grove, Illinois-based firm that provides capital equipment leasing services to businesses throughout the United States. IFC’s services are offered on a direct basis to middle market companies, and indirectly through its FirstCorp vendor services group and its third-party funding services unit, Pioneer Capital Corporation.
About DZ Bank Based in Frankfurt, Germany, DZ Bank has offices in key financial centers and economic regions through the world. Through Autobahn, DZ Bank’s Asset Securitization Group offers structured asset and receivables financing for a wide variety of clients and asset types. Through DZ Financial Markets, DZ Bank’s broker dealer, ASG provides term securitization placement capabilities.
IFC Credit Corporation Announces Acquisition of Blue Dot Funding LLC
MORTON GROVE, Illinois, June 7, 2005 - IFC Credit Corporation announced today that it has acquired the assets and business operations of Blue Dot Funding LLC, an Irvine, California-based equipment lessor.
Financial terms of the transaction were not disclosed.
Rudolph D. Trebels, President and CEO of IFC Credit Corporation, commented: “The acquisition of Blue Dot Funding will help us to accelerate our market growth, and contribute toward achieving our corporate goal of producing $500 million in annual lease originations by 2009.”
Trebels adds, “The addition of Blue Dot is an important strategic step for us because it provides us with a stronger presence in the Southern California market, adds small-ticket market share and leverages our vendor service capabilities.”
Blue Dot Funding LLC was formed in 1999, and provides equipment leasing services to small and mid-size businesses referred to the company by equipment suppliers through formal vendor financing programs. The group will operate as a regional office of IFC’s FirstCorp vendor services division.
“Joining IFC represented an opportunity to expand and profit from increased capabilities,” stated Marcus Davin, President and founder of Blue Dot. “In order to continue our aggressive growth, we needed to join an organization that had a strong marketing and operations platform, and had significant excess funding capacity. IFC Credit provides us with what we need to expand beyond our current level of business.”
Also commenting, IFC’s FirstCorp Division President John Estok emphasized the importance of the Blue Dot acquisition for IFC’s long-term expansion plans. “Our strategy of cultivating close personal relationships with equipment vendors within targeted vertical and geographic markets will be significantly strengthened by this acquisition.”
IFC now has representatives located in or near key U.S. cities including Dallas, Boston, Portland, New York, Atlanta, Chicago, Los Angeles, Sacramento, Minneapolis and Tampa.
Blue Dot Funding Corporation is the fourth company acquired by IFC Credit Corporation in as many years. Earlier, the company acquired Pioneer Capital Corporation, Addison, Texas, First Portland Corporation dba FirstCorp, Portland, Oregon and Spectrum Medical Leasing, Inc., Downers Grove, Illinois. The operations of those firms were successfully integrated into IFC’s organization and continue to provide incremental growth.
IFC expects to continue to consider new acquisition opportunities that add long-term strategic value to the company.
Six from IFC Credit Receive CLP Foundation Certification
MORTON GROVE, IL, November 30, 2004 - The board of directors of the CLP Foundation, Wayne, Pennsylvania announced six employees of IFC Credit Corporation who have attained the Certified Lease Professional certification.
They are as follows:
• Kevin Collins, CLP: Vice President, Sales
• Stephen S. Csar, CLP: Vice President, Credit
• John Estok, CLP: Executive Vice President
• Lee A. Herndon, CLP: Vice President, Collections
• Gus Nicolopoulus, CLP: Vice President
• Wendy Storino, CLP: Customer Service Manager
A candidate who seeks CLP certification must possess a minimum of five years of related industry experience, have acceptable character, ability and reputation, and must adhere to standards of professional conduct defined by the CLP Foundation. Applicants must also pass a rigorous 6-hour examination covering topics in accounting, credit, pricing, leasing law and others.
“IFC is very fortunate to have so many industry veterans on staff, and we’re proud that they’ve continued their professional development and obtained certification”, said Rudy Trebels, President of IFC, and a CLP himself since 1995.
Current employees Brian Cascarano and Gary Trebels have also received their certification.
IFC Credit Corporation has grown from 25 employees to over 100 during the last five years, and the professional capabilities of its employees are one of the company’s strengths. “Our staff is extremely competent, and it gives our customers confidence when we discuss leasing structures, credit availability or other aspects of their financial affairs”, says Trebels.
IFC Credit Corporation is a long-time supporter of the foundation and believes strongly in its mission. “The CLP certification program provides a comprehensive study of equipment leasing, from legal and accounting issues, to marketing and pricing”, states Trebels. “No other organization offers the body of knowledge, along with a requirement to maintain certification."
IFC Credit Corporation Announces Acquisition of Pioneer Capital Corporation
MORTON GROVE, Illinois, September 3, 2004 - IFC Credit Corporation announced today that it has concluded the acquisition of Pioneer Capital Corporation. Pioneer Capital Corporation is an Addison, Texas-based lessor specializing in providing equipment lease funding services to third party leasing professionals. Founded in 1983, Pioneer has funded over $85 million in small-ticket equipment leases over the last 3 years. Pioneer, through its proprietary web-based leasing system (Zaplease.com) processes over 5000 lease applications and funds over 1000 leases annually.
Rudolph D. Trebels, President and CEO of IFC Credit Corporation, commented: “The acquisition of Pioneer Capital is an excellent strategic fit for IFC Credit, adding market share and leveraging our capabilities in lease funding services.”
IFC Credit has provided lease funding services to third-party leasing professionals in the past, but on a smaller scale. “Pioneer is highly focused in their market, with a strong management team that compliments our existing group”, Trebels added.
Pioneer Capital Corporation will operate as a wholly owned subsidiary and remain in Addison, Texas.
“This opportunity makes sense for both companies,” states John Boettigheimer, President and co-founder of Pioneer. “Pioneer’s growth has remained strong despite challenging economic conditions, and IFC Credit provides us with additional financial resources to take the company to the next level.”
Terms of the transaction were not disclosed.
Pioneer Capital Corporation will be the third company acquired by IFC Credit Corporation since 2002. Earlier, the company acquired First Portland Corporation dba FirstCorp, Portland, Oregon and Spectrum Medical Leasing, Inc., Downers Grove, Illinois. The operations of those firms were integrated into IFC’s organization and continue to provide incremental growth.
IFC expects to continue to consider new acquisition opportunities that add long-term strategic value to the company.
Founded in 1988, IFC Credit Corporation is a Morton Grove, Illinois-based commercial equipment leasing firm dedicated to providing superior, innovative financial services. The company serves a broad market offering its services directly to middle market companies and venture capital-backed emerging growth firms, and indirectly through small-ticket vendor lease programs and third-party lease originators.
IFC Credit Announces Completion of FIRSTCORP Acquisition
MORTON GROVE, Illinois, February 28, 2003 - IFC Credit Corporation announced today that it has completed its acquisition of First Portland Corporation dba FIRSTCORP. IFC Credit has purchased all of the outstanding capital stock of FIRSTCORP, and plans to merge the company with its own operations over the next six months.
FIRSTCORP, based in Portland, Oregon is an independent small-ticket lessor providing services to end-users primarily through manufacturer and dealer channels. The company has developed relationships with sales organizations in healthcare, computer, manufacturing industries, and others to help these equipment vendors increase sales productivity and improve customer service. FIRSTCORP accomplishes this through the efforts of their direct sales force utilizing an advanced online, real-time lease processing system.
Rudolph D. Trebels, President and Chief Executive Officer of IFC Credit, stated: “FIRSTCORP is an excellent strategic fit for IFC. The acquisition results in a stronger company with increased capabilities, and supports our strategy of growth both through internal operations and acquisitions.” In February 2002, IFC acquired Spectrum Medical Leasing, Inc., a lessor specializing in the healthcare market.
Highlights of the combined company include:
• 10,000 leases under management totaling $200 million in receivables.
• 120 employees located in the metropolitan areas of Chicago, Los Angeles, Dallas, Atlanta, New York, and Portland, with IFC’s headquarters being maintained in Morton Grove, Illinois.
• 32 sales and marketing professionals serving the vendor services, middle market, and venture leasing market segments.
• Assimilation of FIRSTCORP’s business platform into IFC Credit’s leasing operations, with lease operations being directed by John Estok, former President of FIRSTCORP.
• Integration of FIRSTCORP’s web-based Lease Sales Manager™ front-end software with IFC Credit’s LeasePlus™ software, both products of Lease Team, Inc. of Omaha, Nebraska.
IFC Credit Corporation Announces Acquisition of FIRSTCORP
MORTON GROVE, Illinois, January 31, 2003 - IFC Credit Corporation announced today that it has signed a definitive agreement to acquire First Portland Corporation dba FIRSTCORP, based in Portland, Oregon.
FIRSTCORP is a leading small-ticket lessor of office equipment. The company serves equipment suppliers and end-users of equipment through a direct sales force, and through an advanced online lease processing system. Rudolph D. Trebels, President and CEO of IFC Credit, commented: “The acquisition of FIRSTCORP is an excellent strategic fit for IFC Credit, and results in our becoming one of the largest independent lessors in the industry.”
Len Ludwig, Chief Executive Officer of FIRSTCORP commented, “Since the two companies have complimentary strengths and areas of expertise, the new combined entity will be in a position to offer customers a complete menu of products and services.” Mr. Trebels concluded: “We expect a smooth integration of FIRSTCORP’s business into our operations, and will work to maximize the benefits of the expanded services and customer base. These factors, combined with greater financial resources and broadened management and service teams, should result in efficiencies and further growth.”
As a result of the acquisition, IFC Credit will have an expanded market presence through staffed offices in Chicago, Irvine, Dallas, Atlanta, New Jersey, Portland, and Morton Grove, IL. The transaction is expected to close by February 10, 2003. Terms of the transaction were not disclosed.
IFC Credit Acquires Spectrum Medical Leasing, Inc.
MORTON GROVE, Il., February 5, 2002 - IFC Credit Corporation has signed an agreement to purchase substantially all of the assets and business of Spectrum Medical Leasing, Inc., a commercial finance company specializing in direct financing and leasing of medical equipment to hospitals and other healthcare providers throughout the United States since 1988.
“The acquisition of Spectrum Medical Leasing will expand our reach into the healthcare market and enhance our competitive position overall”, said Rudy Trebels, President and CEO of IFC Credit Corporation. Trebels added, “We expect to build on Spectrum’s experience in the healthcare marketplace and expand it with the benefit of our resources”.
Gus Nicolopoulos, President of Spectrum Medical Leasing, Inc. commented, “We are pleased to become a part of the IFC Credit family. IFC Credit possesses strong lease servicing capabilities along with competitive funding needed to grow.”
The transaction increases IFC’s investment in full-payout leases, and will allow it to leverage its position in the healthcare marketplace.
Mr. Nicolopoulos will remain on board as vice-president of the medical operation, which will operate as a separate division of IFC Credit Corporation.
Archived Releases
August 15, 2007
IFC Credit Corporation Announces Key Changes in Senior ManagementAugust 01, 2007
IFC Credit Corporation Recognized Again Among Top Leasing CompaniesJune 23, 2006
IFC Credit Corporation Recognized Among Top Leasing CompaniesFebruary 23, 2006
FirstCorp Celebrates First Quarter-Century as Leader in Small Ticket LeasingFebruary 16, 2006
IFC Vendor Division Expands Services in Illinois, MidwestDecember 20, 2005
IFC Credit Corporation Renews $75 Million Credit FacilityJune 7, 2005
IFC Credit Corporation Announces Acquisition of Blue Dot Funding LLCNovember 30, 2004
Six from IFC Credit Receive CLP Foundation CertificationSeptember 3, 2004
IFC Credit Corporation Announces Acquisition of Pioneer Capital CorporationFebruary 28, 2003
IFC Credit Announces Completion of FirstCorp AcquisitionJanuary 31, 2003
IFC Credit Corporation Announces Acquisition of FirstCorpFebruary 5, 2002
IFC Credit Acquires Spectrum Medical Leasing, Inc.About IFC
IFC Credit Corporation is a national equipment leasing and finance company providing innovative services to manufacturing, wholesale, and professional service industries. Headquartered in Morton Grove, Illinois, the company was founded in 1988 and serves a broad market from small businesses to Fortune 500 companies. The company is a leading independent lessor that is included in the Monitor 100 list of top equipment leasing companies nationwide.
Media Contact
IFC Public RelationsOr, call: 888-554-4432