Amid the threat of inflation and rising rates, the equipment finance industry pushed ahead and began shifting toward sustainable, inclusive growth. SLIM Capital, located in Beverly Hills, CA, reported 2022 as a solid and successful year with the average amount funded volume increasing by 39.6 percent, over the prior year. It also included an overall funding volume increase of 5.91 percent.

CEO Shervin Rashti is pleased with how 2022 ended and feels extremely optimistic that there will be continued growth and exciting opportunities in 2023 despite the rapidly rising rate environment and higher costs.

“We made a concerted effort to encourage better deals that are more closely aligned with our credit parameters. This resulted in a lower dollar amount of processed deals, but a much greater efficiency in our closing ratios. With better precision in our scoring tools and better quality deals, we increased the our average funding per deal by about 40 percent. We also saw a higher funding volume. We anticipate the market to shift considerably in the coming year, as capital markets recoil away from the lending environment. Because we are an independent lender, we are able to broaden our credit parameters and pick up a lot of well-structured deals for those who will continue to see a need for capital and growth in their businesses. We are eager to see what 2023 and beyond has in store,” said Rashti.

Here is a quick snapshot of business lending in 2022 for SLIM Capital:

• Average Amount Funded: $188,776
• Funding Volume Increase: 5.91 percent
• Average Amount Funded Volume Increase: 39.60 percent
• Total Dollar Amount of Applications Processed: $380,977,947
• Quickest Look to Book Time: 1 Day

Some of the top industries that SLIM Capital was able to help and saw promising growth in:

• Transportation: Another stellar record year for Transportation throughout the United States, especially as the supply chain began to resurge. SLIM Capital continued to fund deals for businesses in this industry consistently each quarter, making it our most popular financing for 2022. SLIM believes that this area of business will not be slowing down anytime soon!
• Construction: SLIM continued to see a steady increase of business from contractors around the country. Many of whom have added equipment to their businesses to support additional contracts. While we may see this industry slow down in the coming year, we are hopeful that SLIM Capital will be a part of the contractors’ needs and wants when it’s time for equipment.
• Manufacturing: This is an industry that has seen continuous activity and interest throughout the country. A healthy manufacturing sector, which after adjusting for inflation, is outperforming other major economic sectors.