Fidelity Capital News
Fidelity Capital Releases Report for First Quarter of 2015
Company sees continued strong growth of its customer base across the board
IRVINE, CA – Fidelity Capital, a company dedicated to providing simple and trustworthy equipment leasing and financing services for a variety of industries (mainly for the technology, cloud computing, medical and manufacturing sectors), recently released its first quarter report for 2015.
The numbers show growth and improvement in almost every area of service that Fidelity Capital provides. Small ticket applications (deals that range from $75,000 to $250,000) are up from 1st quarter of 2014 by 22%. The approval rate on those transactions has increased from 87% to 91% year over year. In the technology, cloud computing and medical sectors, Fidelity has seen even more growth than they ever imagined.
- Medical Equipment Financing & Leasing – a slight increase in applications in the first quarter over last year, with 89% Approval for medical offices, hospitals, doctors…
- Technology Equipment Financing & Leasing – Growth in the Technology sector has been steady with an increase of 10% in applications from last year. We have been able to get 92% of those deals approved and funded.
- Transportation Equipment Financing & Leasing – With our target market expanding into different sectors we have seen a 84% approval ratio with the trucking industry. The industry includes long and short haul trucking.
- Manufacturing Equipment Financing & Leasing – It seems that US Manufacturing has increased recently with a 27% increase in applications for equipment such as CNC Machines (mills, lathes etc) along with semiconductor manufacturing equipment. Approval ratio in this space was 92%.
- Dental Equipment Financing & Leasing – This sector hasn’t shown us much growth it has actually had a slight decline of 5%, we are still optimistic that this sector will show some growth after Tax season.
- Cloud Computing – Of all sectors, this has been Fidelity Capital’s forte. Having had a presence at the web hosting convention in 2014 and a diverse array of customers in this space, Fidelity Capital has been able to get 96% of these deals approved.
“With the increase in approvals overall in the first quarter, we are seeing more and more customers come through the door,” said Alan Eppstein, Account Executive at Fidelity Capital. “We have also shortened the process that customers have to go through to seek an approval for their financing or leasing needs. This means we’re giving a better customer experience to more customers overall, and the results speak for themselves in our first quarter report.”
Fidelity Capital has also had some significant internal growth. Sales staff has increased by 10%, and there have been many new upgrades to the company’s IT infrastructure. A new plan will help the company to hire a new sales team to increase its customer service capabilities. With specific targets in mind, this team combines a healthy blend of young and more experienced reps with the shared goal of helping to increase Fidelity Capital’s portfolio across all industries and service types.
Additionally, Fidelity Capital has increased the amount of services that it provides to customers. The company recently began working with customers in need of working capital. While plenty of “leasing companies” offer working capital, typically they act as a broker. Fidelity Capital has the means to handle these deals with their own funds but can also mitigate risk by brokering the transaction, or a part of it. Being a privately held company with independent funds and lines of credit, Fidelity has done a great job of adapting to what the market needs.
Fidelity’s customers range from startup tech companies to established conglomerates. With the recent growth in the technology, cloud computing and medical sectors over the past five years, Fidelity has done a great job of keeping up with the competition and separating themselves by allowing their customers to work with them for all of their financing needs. Venture backed companies can come to them for venture debt at competitive market rates, while an established medical group can simply pick up the phone and have one of the reps at Fidelity Capital get them approved at prime rates within two hours for equipment leasing/equipment financing or working capital.
With more than 16 years in business, Fidelity Capital has improved its foothold on the leasing and financing market. The company continues to expand and improve the customer experience in all of its services. With the United States economy growing at a blistering pace, Fidelity Capital has shown the ability to stay ahead of the demand and meet the needs of its customers.
For more information, including tools to help customers understand leasing and financing and to submit a request for a capex budget, visit www.fidelitycapitalonline.com.