Amur Equipment Finance, Inc. (Amur) announced a new volume record for the first half of 2024, achieving over $500 million in loan originations and positioning itself to surpass $1 billion by the end of the year. Overall, Amur provided financing to over 6,000 small businesses in the first six months of 2024.
“We are certainly proud of the quantity of business we’ve been able to do so far this year, but we’re even more thrilled by the quality,” said Rich Chenitz, Chief Commercial Officer. While others recalibrate, Amur continues to grow in the construction, manufacturing and specialty vehicle industries, powered by its commitment to partnership and exceptional service. “As the year progresses, we will continue to build our team to establish ourselves as the leading independent equipment finance company in America.”
Amur’s growth has been enabled by its multi-decade track record of performance and deep capital markets relationships. “Our strong capital position is critical in allowing us to seize this market opportunity,” said Elliott Klass, General Counsel and Head of Strategy. “This is a very exciting market for well-capitalized independents like Amur, and our long-term investment in our capital foundation have positioned us well to pick up slack in the marketplace and provide competitive financial solutions, at scale, for our partners and customers.”
In addition to its origination record, Amur processed a record number of applications during the first six months of 2024. “The power of our purpose-built financing platform, paired with our ‘no shortcuts’ philosophy and experienced and dedicated team, means that we’ve been able to meet and exceed our own high service standards even in the face of record-setting volumes,” said James Truran, Chief Operating Officer. “We are sharply focused on delivering exceptional service to our partners and customers and we're excited to introduce several enhancements later this year inspired by our conversations with them.”
These impressive results in the first half of the year are a testament to the collective effort of the entire Amur team, which is driven by a shared commitment to the financial needs of its partners and customers. As a national equipment finance leader, Amur continues to build upon its nationwide presence by providing differentiated financing solutions across key economic sectors including construction, manufacturing, franchise, specialty vehicles, transportation and more.