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Alliance Funding Group Strengthens Technology Finance Division with Key Leadership Appointments

TUSTIN, CA / May 15, 2024 / Alliance Funding Group (AFG), a premier provider of customized equipment financing solutions since 1998, announces significant appointments within its Technology Finance division. Adam Doyle joins as Senior Vice President, Head of Technology Finance, and Eric DeHart assumes the role of Market Director, Technology Finance. Together, they bring over forty years of combined experience in equipment leasing, sales, and strategic financial services.

Adam Doyle: A Multifaceted Leader

Adam Doyle‘s diverse career spans politics, law, and technology. He has made impactful contributions to political campaigns, the United States Senate, and served as In-House Counsel for a Fortune 50 retailer. His journey in technology began at Dell Technologies, transitioning later into the equipment finance sector where he excelled at Winthrop Resources (acquired by TCF Bank, now Huntington Bank). Most recently, he was the EVP, Head of Sales and Business Development at CCA Financial. In his new capacity at AFG, Adam will lead initiatives to expand the company’s equipment finance offerings within the technology sector.

Eric DeHart: Expert Strategist and Educator

Eric DeHart, a USC alum based in the Los Angeles area, began his impressive career in equipment finance at First American Equipment Finance (acquired by City National Bank). He then progressed to relationship management roles at City National Bank and JPMorgan Chase Bank, furthering his expertise while earning an MBA with a concentration in finance. Prior to joining AFG, he was instrumental in shaping finance solutions at US Bank Technology Finance Group and CCA Financial. In addition to his role at AFG, Eric serves as CFO of the LYTE Foundation, which supports breast cancer survivors.

Expanding AFG’s Technology Equipment Finance Reach

Brij Patel, Founder, President, and CEO of AFG, expressed his enthusiasm for the expanded team, stating, “The appointment of Adam Doyle and addition of Eric DeHart marks a significant enhancement to our Technology Finance capabilities. Their deep industry knowledge, OEM/reseller network, and commitment to client success are pivotal as we continue to tailor our financial services to the evolving needs of the technology sector. We are excited to see them drive growth and innovation within our company.”

AFG has a rich 26 year history as a privately-held entity with a robust team of over 75 sales representatives nationwide. The company caters to a diverse range of companies and credit profiles, emphasizing Equipment Finance, Leases, and Working Capital.

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Alliance Funding Group Best Company Culture recognition

Alliance Funding Group Cultivates a Winning Culture through Authenticity and Genuine Care

Founded in 1998, Alliance Funding Group (AFG) is one of the largest privately held equipment finance companies in the U.S. Over the years, AFG has funded more than $3 billion in equipment loans, leases and working capital, serving more than 25,000 customers and earning recognition as one of the fastest-growing independent leasing companies in the nation.

Staying Genuine and Human

AFG has strategically crafted a winning culture that revolves around authenticity, flexibility and genuine care for its people. Rather than adhering to rigid corporate rules, the company prioritizes its employees, especially during critical moments in their lives. A real-life example illustrates this commitment: when a team member faced a sudden family crisis requiring extended time off, AFG granted the flexibility needed without imposing strict constraints on return dates or job security. This reflects a culture that walks the talk, emphasizing authenticity and human connection.

Leadership Empowerment for Employee Engagement

A crucial aspect of AFG’s winning culture is the empowerment of its senior leadership team to make decisions aimed at improving employee engagement and retention. All employees have direct access to senior leadership, fostering a culture of open communication where grievances or suggestions are addressed promptly. This approach ensures that leadership actions align with the company’s commitment to its people, creating a supportive environment.

Prioritizing Values

Values play a pivotal role in shaping AFG’s winning culture. By ensuring the happiness and well-being of the team, the company establishes a foundation for employees to extend that care to customers, which drives business success. The emphasis on prioritizing people sets the tone for a workplace where individuals feel valued, supported and motivated to contribute to the company’s triumphs.

Meritocracy and a Level Playing Field

Diversity, equity, and inclusion (DE&I) are integral to AFG’s culture, built on the principles of meritocracy. Regardless of background or gender, everyone at AFG is provided with a fair opportunity. The company believes that talent naturally rises to the top, fostering a level playing field and promoting an inclusive environment where diverse perspectives contribute to success.

Transparency, Communication & Employee Well-Being

AFG promotes transparency and communication by ensuring that ownership and leadership are readily available for questions. Annual upper management meetings delve into departmental details, discussing challenges, successes and setting goals. This transparent approach allows employees to hear directly from leadership, fostering an environment of trust and openness. The company supports the well-being of its team members through competitive compensation, benefits, personal support and a fun, casual work environment.

Learning from Setbacks and Embracing Risk

AFG embraces a culture of learning from failures and setbacks. The company encourages a proactive approach to taking risks, viewing failures as valuable learning opportunities. This mindset promotes a dynamic and innovative culture where employees feel empowered to explore new ideas and approaches.

Ongoing Evolution

Throughout its success and growth, AFG has remained committed to core values of trust, support, and accessibility for its employees. The company’s culture has evolved with a consistent focus on genuine care and respect for every individual, ensuring that employees are not treated as mere pawns but as valuable contributors to the organization.

A Human Approach to Business

AFG maintaining a working environment that is not overly formal or rigid. Recognizing the human aspect of business, AFG treats every individual with respect and genuine care, valuing diverse opinions and creating a workplace where authenticity and humanity are the cornerstones of success.

 

Credit: https://www.monitordaily.com/article-posts/nine-common-traits-of-the-best-company-cultures/

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Section 179 Yearly Tax Deduction

What is Section 179 Tax Deduction?

Section 179 is a tax deduction that enables businesses to depreciate assets in the first year they purchased the asset. All assets must be put to use by December 31 of the 2024.

Why should I care about this tax deduction?

In 2024, your business can deduct the full cost of qualified equipment purchases, up to $1,220,000, with a “total equipment purchase” limit of $3,050,000.

Besides, you can take advantage of 60% Bonus Depreciation on the “new to you” equipment this year.

How to calculate my savings from Section 179?

Please use our equipment calculator for illustrative purposes:

What qualifies as Tax Deductible assets under Section 179?

  • Tangible property or hard assets (such as machines, equipment, furniture)
  • Single-purpose agricultural or horticultural structures
  • Storage facilities
  • Off-the-shelf computer software placed in service during the tax year

What are the requirements?

  • New or Used equipment with a total price of up to $3,050,000
  • Must be acquired for business use
  • Must be put to use before December 31st, 2024

How can I benefit from this Tax Deduction?

AFG offers financing and leasing solutions that are compatible with Section 179. Benefit from tax savings this year and pay for your equipment over time.

Get a free quote on equipment financing today.

*The information on this site is for illustrative purposes only. Please consult with a qualified tax advisor concerning your specific situation.

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Alliance Funding Group Secures $39MM in Upsized Corporate Notes

Alliance Funding Group has recently hit a significant milestone. The company has recently managed to upscale its corporate notes to an impressive $39 million. This development underscores AFG’s financial stability and unwavering commitment to fostering growth. It consolidates AFG’s intent to carve out a leadership position within the equipment finance landscape.

The new issuance was assigned a BBB rating by a nationally recognized statistical ratings organization, highlighting AFG’s steadfast financial reliability. AFG plans to allocate the proceeds from this significant transaction towards amplifying working capital and financing the company’s ongoing growth. Alliance Funding Group is actively pursuing potential acquisition opportunities, recognizing them as strategic pathways to further strengthen the industry position.

Since its establishment, AFG has been committed to providing small-ticket and middle-market equipment leasing, financial, and working capital solutions to businesses across the United States. Marking an impressive growth trajectory, Alliance Funding Group has injected over $2 billion into more than 25,000 businesses, with the ambition to expand the influence further, propelling the success of an even larger number of businesses.

AFG expresses appreciation to its core base of institutional investors, whose unwavering support and trust in our growing platform has been instrumental in the company’s success. “With our competitors tightening their credit boxes, we see an exceptional opportunity to gain more market share, both organically and through potential synergistic acquisitions,” said Brij Patel, the founder and President of AFG.

The company’s Senior Vice President of Capital Markets, Brent Hall, emphasized, “After our successful securitization earlier in the year, this recent financing move strengthens our balance sheet even more. We’re witnessing considerable demand from our customers, and this additional capital will empower us to cater to their financial needs in an increasingly volatile economic environment.”

Brean Capital, LLC played a pivotal role in this transaction, serving as AFG’s exclusive financial advisor and sole placement agent. Their expertise and counsel have been invaluable in this significant accomplishment.

AFG is committed to delivering reliable financial solutions to a wide range of businesses, irrespective of the credit type. Headquartered in Tustin, California, AFG expanded its presence with offices in Los Angeles and Carlsbad, CA, Portsmouth, NH, Austin, TX, and Tacoma, WA. Looking ahead, AFG is poised to leverage this additional capital, fortifying its suite of services and contributing to the financial health and growth of businesses across the United States.