ENGS Commercial Finance Co. (“ENGS”), a subsidiary of Mitsubishi UFJ Lease and Finance (“MUL”) company, a prominent global leasing company headquartered in Japan and publicly listed on the Tokyo and Nagoya Stock Exchanges, achieved record-breaking origination volume in 2019. Reporting its most successful year in the company’s history, ENGS financed a total of $687 million of equipment transactions, a 35% year over year increase, purchased $130 million in invoices in its working capital business and produced over $5 million in insurance premiums.
Craig Weinewuth, President and Chief Executive Officer commented: “ENGS Commercial Finance has grown tremendously since the current management team assumed control in 2012. The outstanding 2019 results are greatly attributable to our Service First commitment to our growing customer base and the stellar performance and hard work of our employees.” Weinewuth added, “We are very proud of our record-breaking originations and excited for the future. Being part of MUL, ENGS can expand its product offerings and geographic reach now that we are part of one of the world’s largest commercial finance companies. This enhanced creativity and flexibility will enable ENGS to accommodate more of our vendors’ needs with wider product offerings. Our pipeline is growing, and we anticipate continued growth and financial success in 2020.”
ENGS provides best-in-class Lease and Loan solutions and is a leading lender to the Transportation, Constructions and Industrial Equipment segments, as well as a leading provider of Insurance products through ENGS Insurance Agency and Working Capital products through ENGS Commercial Capital. ENGS was named a Top Workplace by the Chicago Tribune for the second time in 2019 and is the 4 th largest independent finance company in the U.S. as reported by The Monitor.