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ENGS Commercial Finance Names Daniel to Lead New Factoring Division

January 04, 2017, 07:30 AM
Filed Under: Factoring

ENGS Commercial Finance Co., an industry leading commercial finance company with assets of nearly $600 Million dollars, announced Tania Daniel has joined the company as the Managing Director of its newly launched Factoring Division. In this role, Ms. Daniel will be responsible to develop ENGS’s Factoring Division into a nationally recognized market leader in the factoring space.

Ms. Daniel brings 17 years’ experience in the Factoring space with Porter Capital Corp. and LSQ Funding Group, where she held various roles of increasing  responsibility, and where she was instrumental in helping create Factoring platforms and growing them into market leaders. Most recently, Daniel was the Chief Operating Officer for Porter Capital. Daniel and the ENGS Factoring business will be headquartered in Birmingham, Alabama.

Craig Weinewuth, President & CEO of ENGS Commercial Finance, commented, “This new factoring product offering will allow us to expand our lending products to our 10,000+ customers in our Transportation and Industrial Divisions, as well as the market as a whole. This factoring product along with our recently launched ENGS Insurance Agency, advances our long-term strategy to develop ENGS into a well-diversified and leading independent commercial finance company providing a wide range of product offerings.” Mr. Weinewuth continued, “We are very excited to add Tania to our excellent team of executives and to have her lead this Factoring Division for ENGS. Tania has an excellent reputation in the Factoring space and her experience will help us expand beyond our current verticals and into all factoring markets.”

“I am thrilled to be part of the ENGS team and honored to lead the new Factoring Division, added Ms. Daniel. “This is an exciting time to join ENGS as it continues to expand its footprint and diversify its product offerings in a meaningful way. The synergy between the existing ENGS customer base and our Factoring product, as well as our cohesive vision to partner with our clients to offer a complete working capital solution, positions the Factoring Division for success.”

“We are committed to helping our customers grow their businesses,” commented Jim Freund, EVP/CMO of ENGS Commercial Finance, “and adding factoring to our existing suite of equipment finance and insurance offerings provides another working capital solution for our customers and allows them to focus on growth rather than monthly cash flow needs.”

ENGS is a 64-year-old commercial finance company and a leading lender to the Transportation and Industrial Equipment segments, and a leading provider of Insurance and working capital products to its customers. In 2016 ENGS was recognized by the Monitor as the 5th largest independent finance company in the U.S. The combination of ENGS’s nationally recognized Transportation and Industrial Equipment verticals will generate $500,000,000 in annual lease and loan originations in 2017.

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