FORT COLLINS, COLO. – Tandem Finance completed over $333 million in small ticket equipment finance funding in 2022.
Originations stemming through its extensive grouping of manufacturer program partnerships, Tandem concentrates on committed vendor programs and dealer partnerships across a range of diversified and transportation market segments. Tandem provides its program partners with a uniquely deep and diversified credit and vendor services experience, all delivered through a market-leading marketing, sales and business development team of tenured Tandem employees.
Tandem President Michael Sheehan declared, “I am very proud of our team members' efforts and levels of engagement, serving our ever-growing vendor partnerships and clients. Following up a 300% growth in 2021, Tandem’s 58% additional growth in 2022 required a full and committed effort, despite a slowing economy, rising inflation and unprecedented actions by the Fed resulting in the escalation of the interest rate environment.”
Sheehan stated, “as this softer, recessionary economy has begun to be revealed, Tandem is constantly committed to its vendor clients by providing convenient, reliable funding across their entire end-user customer credit profile. As a direct lender and portfolio servicer committed to its vendor partners' success, we look to continue to be the reliable partner Tandem has become known to be, especially in these times. Additionally, in the market segments we have identified to grow our presence, we are committed to exploring and establishing more and new vendor partnerships to help those organizations pursue their customer growth objectives.”
Additionally, to encourage this new partnership growth, Tandem has increased its team dedicated to the business development and program management areas. Steven Umphlett, a 20-year industry sales professional and Patrick Rohn, Tandem’s top sales representative in 2022, have been added to the BD and PM teams to continue to expand Tandem’s reach in the area of major account relationships. Led by industry veteran Vice President Martin Murphy, the assembled BD team has identified several marketplace opportunities, is engaging new program prospects and is already delivering a substantial contribution to Tandem’s journey.
He recapped by saying, “we are committed to the long term and are diligent in our ongoing assessments on all aspects of the business and will continue to make the ongoing adjustments to assure our business enterprise continues to succeed though delivering every day for our partners.”
Tandem Finance Inc. provides equipment financing to SMBs in the U.S. through the equipment vendor channel. Tandem Finance is a wholly-owned subsidiary of Chesswood Group Limited. Chesswood Group Limited, publicly traded on the Toronto Stock Exchange (TSX: CHW), is a financial services company operating in the specialty finance industry in North America.
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