Fidelity Capital Provides First Quarter Rundown and 2020 Outlook
Fidelity Capital, a leading provider of a wide variety of lending services, released its First Quarter Rundown for the first several months of 2020. Based on the numbers in the first quarter of the year, Fidelity Capital looks to position itself for another big year of growth. The company doubled its internal line in 2019 for leasing equipment across the country, with major industries including technology, medical, biotech and manufacturing accounting for about 80 percent of its current portfolio. However, there has also been a big growth in the transportation space in the first quarter, due in part to increased demand caused by the COVID-19 pandemic.
“Fidelity Capital has been riding a wave of growth for some time now, and while the pandemic does threaten to damage some industries, we continue to see positive signs for continued growth in the rest of the year for equipment leasing,” said Alan Eppstein, Account Executive at Fidelity Capital. “We are encouraged to see signs of strong performance for the rest of 2020.” Fidelity Capital’s president projects the internal line will double with new business for the year. The company’s goal is to expand its application-only limits along with other programs to help customers. The executive team sees the potential for growth in all sectors of technology equipment leasing, transportation financing, manufacturing equipment leasing and biotech equipment leasing.
Despite the pandemic, the firm remains fully staffed and prepared to handle all requests for leasing and financing of equipment to companies across the nation in a wide variety of industries. “There has been a lot of market volatility this year due to the pandemic, but there remains a steady demand for equipment leasing and financing services,” said Eppstein. “We remain committed to providing outstanding service to all of our clients and to get them the financing and leasing they need even in the midst of these unprecedented times.”