Arvest Equipment Finance Hits $100 Million in New Production in 2017
FORT SMITH, Ark. (March 6, 2018) – Arvest Equipment Finance (AEF) closed more than $100 million in new production in 2017, a first for the division of Arvest Bank, it was announced today.
AEF president Eric Bunnell cited a doubling of the company's vendor production – from $7 million in 2016 to $18.8 million in 2017 – as a key in reaching $106.6 million in new production for the year.
"We continued to see strong support from the commercial lenders throughout the Arvest footprint, and were able to help structure equipment transactions for many bank customers," Bunnell said. "I am also excited about our growth in vendor production. We continue to expand our external salesforce and inform the dealers about what we have to offer."
AEF also increased its total portfolio by 5.9 percent, from $234.7 million in 2016 to $248.6 million in 2017. AEF's total number of contracts increased as well, from 1,816 in 2016 to 2,168 in 2017.
Additionally, Bunnell lauded sales support specialist Aaron Loum for earning the Certified Lease & Finance Professional (CLFP) designation in 2017. AEF now employs 9 of the more than 500 CLFPs in the United States and Canada. That represents the eighth-highest total of CLFPs among all companies.
"We have at least more four more associates working towards CLFP designation," said Bunnell, who recently was elected as the CLFP Board of Directors secretary. "Having so many associates who have worked hard to expand their knowledge base and meet these lofty industry standards is not only a great reflection of the values here at Arvest Equipment Finance, but a benefit to all the customers we serve every day."