The milestone achievement highlights the FinTech company's focus on leveraging technology to serve more small and medium-size businesses.
BOSTON, Dec. 15, 2022 /PRNewswire-PRWeb/ -- TimePayment, an award-winning FinTech company specializing in commercial and specialty equipment lease financing, has announced that it has financed its millionth lease. The achievement shines a spotlight on TimePayment's commitment to serving a wider range of businesses than most lease financing companies, funding equipment purchases from as low as $500 up to more than $1.5MM, and on TimePayment's relentless focus on technology to fast-forward the application and credit approval processes.
"This milestone is really important to us," says Jay Haverty, TimePayment's President & CEO. "For more than 30 years, we've been helping America's small businesses succeed by providing lease financing for the critical equipment they need to grow and prosper. Every one of those million leases represents an entrepreneur taking the next step on their journey. When they succeed, we succeed."
TimePayment's embrace of technology has also been a major factor pushing the company toward the one-million lease marker. "It's been a constant evolution. In fact, we've just upgraded our technology platform so we can deliver for businesses even better," Haverty says. The multiyear, organization-wide platform modernization has boosted TimePayment's automation capabilities and ability to bring new products to market, while delivering vendors a more intuitive user interface, allowing them to close deals and manage accounts more easily.
TimePayment plans to help even more businesses finance equipment going forward. The company's spring acquisition of Wheaten Financial marked its first foray into the titled vehicle space, and its recent acquisition of QuickSpark Financial has expanded its customer base and deepened its website integration capabilities. "We've set our sights on two million leases," says Haverty, "and it's going to take a lot less than 30 years to get there."
About TimePayment™
TimePayment is a Boston-based FinTech company owned by affiliates of Fortress Investment Group, a leading, highly diversified global investment manager. TimePayment leads the industry with technology tools and capital that enables equipment sellers and financial intermediaries to offer fast, paperless equipment lease financing to their customers. The company's proprietary credit scoring and risk-based transaction model delivers competitive lease financing solutions across the credit spectrum; from Fortune 500 companies to small business start-ups. TimePayment proudly serves more than 100,000 active accounts with transaction sizes ranging from $500 to over $500,000.
Media Contact
Z Wright, TimePayment, 1 877-868-3800, [email protected]
SOURCE TimePayment
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