Acquired by SLRC in 2017, Nations Equipment Finance (“NEF,” or “Nations”) is an independent equipment finance company that provides secured financing solutions to companies in the United States and Canada
Founded in 2010 by a team of former GE Capital senior executives to fill a void in the marketplace created by the dislocation of traditional lenders post the 2008 – 2009 recession
Based in Norwalk, CT and currently has ~40 employees, with BDO offices in Bonita Springs, FL, Westlake, OH, Dallas, TX and Brea, CA
Diversified portfolio with over 90 portfolio companies
100% collateralized investment portfolio
Primarily privately-owned, medium-sized businesses in the US and Canada; good companies with high percentage of fixed assets that are in need of liquidity
Borrowers typically have limited access to bank financing
Equipment financed is mission critical to clients’ success
Size ranges from $500,000 to $5,000,000
3 – 7 year equipment leases or loans (4+ year average life); term of transaction shorter than equipment useful life
All equipment inspected and appraised at close with updates as required over time
1. NEF Portfolio includes equipment financings held directly on SLRC’s balance sheet and in NEF Holdings LLC, a pass-thru portfolio company.
2. NEF’s fixed rate loans are short duration with average hold periods of 2.5 years.