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Alliance Funding Group Invests in Casca’s $29M Series A

Alliance Funding Group (AFG) has invested in Casca’s $29M Series A, backing the company’s AI native loan origination platform for banks and SBA lenders.

Casca’s technology unifies intake, eligibility, compliance, decisioning, and document generation to reduce manual work and accelerate lending decisions for small business borrowers. The platform standardizes KYB and documentation across systems and provides real time visibility for bankers and applicants.

If you cannot beat them, invest in them. After meeting Lukas Haffer and the team at Casca, we were sold on their technology first approach to SMB lending.
Brij Patel, Founder, Alliance Funding Group

AFG’s investment supports scaling of Casca’s AI native platform across additional loan categories including asset backed lending, deeper core banking integrations, and expanded customer success and engineering resources that increase speed, consistency, and transparency for small business borrowers.

About Casca

Casca is an AI native loan origination platform for financial institutions that consolidates lending workflows and strengthens controls to deliver faster and clearer outcomes. Learn more at https://www.cascading.ai/

About Alliance Funding Group

Alliance Funding Group est. in 1998, is a privately held equipment finance & working capital platform headquartered in Tustin, California, serving businesses nationwide with ~$800MM in AUM.  Learn more at https://www.afg.com

Media Contact

Shona Barnthouse
Vice President of Marketing, Alliance Funding Group
sbarnthouse@afg.com

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Alliance Funding Group Welcomes Barry Shafran as Chairman

TUSTIN, CA / January 27, 2025/ Alliance Funding Group (“AFG”) is pleased to announce the appointment of Barry Shafran as Chairman. Mr. Shafran was the Founder, CEO, and Director of Chesswood Group Limited, as well as the CEO of Pawnee Leasing Corporation, until 2020. During his tenure, he oversaw almost twenty years of consistent growth in earnings and portfolio.

Mr. Shafran brings a diverse background that includes managing all aspects of a public equipment finance business. His expertise spans driving growth and profitability, developing and executing strategic initiatives, risk management, treasury operations, fundraising in both private and public markets, investor relations, strategic mergers and acquisitions, and the oversight and guidance of management teams.

“AFG has grown significantly over the past five years, including the emergence of our on-balance sheet portfolio across both small ticket and middle market segments, with $750MM+ in AUM. As we continue that growth, Barry will bring to AFG his considerable experience in risk management, portfolio growth, strategic planning, and team building,” said Brij Patel, CEO of AFG. “I look forward to working with Barry in building a formidable specialty finance company while maintaining the culture of AFG. This culture has been instrumental to our success in attracting best in class talent.”

AFG has funded over $3B in equipment leases, loans and working capital to more than 25,000 customers since 1998 and is ranked as one of the fastest-growing independent leasing companies in the US.

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Adaptation and Growth: The Success Story of Alliance Funding Group

The quest for wealth first drew Brij Patel, president of Alliance Funding Group, to the finance industry. After launching a company, transitioning from a broker to a lender and asset management firm, Patel has demonstrated that true success stems from adaptability and a willingness to embrace change.

After earning an accounting degree, Brij Patel found his way into equipment leasing. One of Patel’s lessees suggested that Patel launch a leasing company. Patel jumped at the opportunity and grew the company to 10 employees before selling it to the investor. After that, in 1998, Patel launched Alliance Funding Group (AFG).

Since its inception, AFG has undergone several phases. After operating as a broker for seven years, the AFG team learned the ins and outs of discounting and AFG became a lessor. At the company’s 15-year mark, an M&A opportunity arose, which ultimately revealed the limited enterprise value creation of brokers lessors without a tangible book of assets. Patel and his partners decided to transform AFG into a lender and asset manager, adopting a multi-product approach encompassing small ticket, mid-market and working capital solutions.

Making the switch from broker to holding a sizeable balance sheet takes capital. After building the human capital and infrastruc- ture necessary to operate as a lender, AFG secured a $125 million revolver and a $175 million warehouse facility and went to market with its first ABS issuance in 2023. Although AFG has secured solid standing as a lender, the company has maintained its decades-long industry relations as a lessor and continues to sell portfolios that are ser- viced and retained. AFG’s total assets under management are more than $700 million.
Patel’s short-term vision for AFG involves continued investments in technology to enhance risk management capabilities. He believes AI should augment human capabilities rather than replace them, making humans more powerful and driving productivity.

Looking at today’s market, Patel has his eye on delinquencies. If they remain stable, he
foresees banks getting back into the game; if they rise, he expects banks to continue their retreat.

“Their cost of funds advantage will absolutely play a role, but I still believe private credit,
in every lending vertical, will play a larger role overall in this environment,” Patel says. “They’ll just get more business because banks are going to be more conservative in lending.”

For young entrepreneurs, Patel offers this advice: “One thing I’ve learned over the last 28 years managing a business is to be patient, flexible and opportunistic. We are not where we are as a company because we’re that much better than anybody else. We just fought through all the economic cycles, survived, learned and grew.”

Credit: Erin Rafter of Monitor Magazine

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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.