Daily News: October 3, 2017

Wintrust Provides Revolver to Support ENGS Commercial Finance

ENGS Commercial Finance closed on a new revolving credit facility for its factoring subsidiary, ENGS Commercial Capital. This new facility is with Wintrust Commercial Banking.

Tania Daniel, managing director for ENGS Commercial Capital, stated, “We are pleased to announce this transaction to support the expansion of the business. As with any finance organization, having an efficient capital structure allows us to provide competitive pricing and superior service to our customers. We have doubled business in the last three months and this facility will help support that continued growth.”

“Factoring is a key initiative to ENGS’ overall strategy to expand and diversify its business offerings,” commented Craig Weinewuth, CEO and president of ENGS Commercial Finance. “Wintrust Commercial Banking has been a great partner over the years, and we are very pleased to close this transaction to support our continued growth.”

ENGS is a 65-year-old commercial finance company and a provider of financial solutions to manufacturers, dealers and end-users of transportation equipment, industrial equipment and construction equipment, and a provider of insurance and working capital products to its customers.

In 2016, ENGS was recognized by the Monitor as the fifth largest independent equipment finance company in the U.S.