The Bank of Birmingham announced the expansion of its business services to include equipment lease financing. Equipment lease and finance transactions enable companies to acquire the equipment they need to grow their businesses and according to the Equipment Leasing and Finance Association accounts for $628 billion in financings annually.
Bank of Birmingham now offers a broad range of equipment lease and finance structures to help new and existing Bank customers obtain the equipment needed to operate and grow. The Bank will finance most equipment types, including manufacturing, construction, and transportation equipment. Structures will include finance leases, discounted leases, warehouse lines of credit, and vendor programs.
“We are proud to be one of the first community banks to offer this important form of business financing,” said Rob Farr, President and Chief Executive Officer of Bank of Birmingham and its holding company Birmingham Bloomfield Bancshares. “At Bank of Birmingham we continue to identify additional services to meet the growing needs of our customers – both commercial and consumer. Our customers and other businesses rely on equipment financing to grow their businesses and we look forward to working with them.”
Bank of Birmingham has selected Robert W. Leonard as the new executive vice president of the Equipment Leasing Division. Mr. Leonard has extensive experience in the equipment leasing industry having managed other bank leasing businesses, and been a Principal with a privately-owned equipment leasing advisor.
Bank of Birmingham is a full-service community bank serving Birmingham, Bloomfield Hills, Beverly Hills and Franklin. Bank of Birmingham is dedicated to providing financial services to small- and medium-size businesses; their owners and employees; professionals; and individuals who work or reside in the Birmingham/Bloomfield market area. Every Bank of Birmingham customer has a relationship manager who serves as a single point of contact empowered to provide all of its services. For more information, visit www.BankofBirmingham.net.