Somerset Capital Group announced record quarter ending lease originations for the period ending September 30, 2012.

In nearly 30 years in business, Somerset not only closed on a record quarter ending for new lease originations, but also established a new funding facility and non-recourse relationship with an international lender.  While the discounting relationship will allow Somerset to leverage our larger transactions, the new $15 million short term financing facility will provide Somerset with a flexible and cost effective platform to support its continued expansion.  As an additional facet of this new relationship, our business partner engaged Somerset’s broad asset expertise in underwriting two significant transactions with a long-standing customer of theirs.

“While all this was going on, we continued to expand and develop our core business groups, closed a major technology sale in Malaysia (generated by our IT trading business), continued to expand our presence within our forklift trading business, and launched our new corporate website.  All of this just goes to show what a real team effort can produce,” stated Evan Bokor, President and CEO.  “Typically, summertime in the leasing industry is very slow with little new business activity. Coming off a record month of August and closing out a record quarter provides ideal momentum for what is shaping up to be an equally busy and successful fourth quarter.”

Headquartered in Milford, CT, Somerset Capital was established in 1984 and offers equipment leasing, rental and asset management solutions tailored to the needs of its clients.