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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.

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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.



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The Resurgence of the Manufacturing Industry: A $1 Trillion Shift Unveiled

The Resurgence of Manufacturing: A $1 Trillion Shift Unveiled

The manufacturing industry in the United States is currently undergoing a significant transformation, driven by technological advancements and substantial investments. A recent report by Goldman Sachs highlights this trend, with over $1 trillion invested in manufacturing and infrastructure, signaling substantial growth and innovation in the industry. This period of change presents valuable opportunities for manufacturing businesses, and we are here to provide insights and support to navigate this evolving landscape.

The Emerging Trend in Manufacturing Investments

Recent data underscores the scale of this industrial resurgence, with a substantial increase in projects, particularly in semiconductor manufacturing, electric vehicle and battery plants, and clean energy projects. Notably, semiconductor plants account for a significant portion of these investments, totaling $222 billion. These figures signify a shift toward a more advanced and sustainable manufacturing ecosystem in the U.S.

Understanding the Current Scenario

Goldman Sachs’ analysis also reveals a notable increase in project activities, with projections indicating more than $80 billion in investments for both 2022 and 2023. This is a substantial contrast to the average annual investment of $23 billion observed from 2011 to 2021. However, it’s important to note that these are early stages, and a majority of equipment orders are yet to be fulfilled.

Grasping Project Timelines and Challenges

These investments often entail significant delays between project announcements and equipment orders. For instance, while a non-residential construction project might take 18–24 months from groundbreaking to production initiation, a semiconductor plant can take 36–60 months. Manufacturers must understand and plan for these delays.

Adapting to Capital-Intensive Venture

We recognize that stepping into or expanding within the manufacturing sector demands substantial financial resources. Our approach at AFG revolves around developing customized financing solutions aimed at easing the initial financial load, all while prioritizing manageable terms and efficient cost management strategies.

As we witness a substantial transformation in the U.S. manufacturing industry, it becomes apparent that we are entering a new era of industrial development. This shift presents various challenges and opportunities, particularly in the realm of financial planning and equipment financing & investments. At AFG, our commitment lies in offering support to comprehend these shifts, adapt strategies accordingly, and prosper in this dynamic phase of American manufacturing.