PNC Creates Sports and Entertainment Finance Group

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PNC Equipment Finance forms new group to focus on the equipment financing needs of sports and entertainment businesses.

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The sports and entertainment group combines financial strength with the knowledge and understanding of today’s golf, sports media and technology industries.

PNC Equipment Finance, LLC (PNCEF) has announced a new group to focus on the equipment financing needs of sports and entertainment businesses. The new group combines PNCEF’s former golf finance and sports venue technology finance segments.

“With our vendor-centric focus, experience and intimate knowledge of these industries, PNC Equipment Finance is well positioned to help sports and entertainment customers achieve their objectives with a full range of financing options,” said Paul Vecker, senior vice president and manager of the vendor finance business of PNC Equipment Finance. “The sports and entertainment group combines financial strength with the knowledge and understanding of today’s golf, sports media and technology industries. We will work diligently to create financing programs that meet the needs of this multi-faceted market,” said Vecker.

The new group provides financing options for turf maintenance equipment and golf cars for golf courses, country clubs, municipalities and sports fields throughout the U.S. and Canada. In addition, it offers financing for sports venue technology equipment such as video boards, score boards, production equipment and other technology-related assets for professional sports teams and other entertainment venues.

Chris L. Schauerman has been chosen to lead the group, which will be an operating unit of the vendor finance business at PNC Equipment Finance. PNC Equipment Finance, LLC, a wholly-owned subsidiary of PNC Bank, National Association, and an affiliate of The PNC Financial Services Group, Inc., offers a wide variety of financial tools for equipment financing needs, including master lease and master loan agreements which minimize paperwork and speed up the equipment delivery and funding process.

The PNC Financial Services Group, Inc. (http://www.pnc.com) is one of the nation’s largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management.

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Tim Rice
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