Recent events in the credit markets have caused many borrowers to be concerned about the financial stability of their financing partners.  This market turbulence has resulted in a tightening of credit availability, as many lenders reduce their product offerings and become increasingly selective about where they are willing to lend money.

First American Equipment Finance remains strong; and we are committed to serving the equipment leasing and financing needs of our customers.  Over the past 15 years, First American has exercised considerable discipline in our business practices.

• First American provides only commercial equipment leasing and financing services. We have deliberately avoided expansion into real estate, transportation or construction financing services which are the source of many current problems for our competitors.
• First American serves many of the most sophisticated and credit-worthy organizations in the United States. These companies include leading educational institutions, hospitals, law firms, and large corporate borrowers. The stability of our company is directly related to the financial strength of the clients we serve.
• First American employs a unique, cost-effective distribution model with advanced technology that provides an exceptionally high level of customer service at very low cost.

In addition to these strategic factors, First American’s success has been the result of our professional, hard-working staff -- and the loyal customer relationships we have built over many years. It is with sincere appreciation that I thank our loyal clients, employees, and business partners for their continued support. And it is with full appreciation for the magnitude of the challenges facing many commercial lenders today that I reiterate our continued commitment to serve our valued customers’ future equipment financing and leasing needs.

Respectfully,

William Verhelle
Chief Executive Officer
First American Equipment Finance