|Tandem Finance marks 210% growth Y/Y
and adds Transportation Finance Team
JAN 21, 2021
FORT COLLINS, COLO. – Tandem Finance is one of the industry’s fastest-growing small-ticket, independent, equipment finance and lease companies. Powered by the efforts of a great team and its valued vendor partners, Tandem continued its rapid national expansion in 2020 despite the challenges introduced by COVID in the springtime. The company overcame a challenging year by growing a remarkable 210% over the prior year.
Tandem President, Michael Sheehan stated, “While a great deal of resources and energy went to providing the necessary support to our customers, significant attention was also directed to our continued quest to expand and support our vendor program partners across a wide range of strategic vertical markets. I’m confident it’s that level of engagement and mutual support that has delivered results at this elevated level.”
Last year Tandem launched a Tandem Transportation Finance Team. Led by industry veteran Mike Bardwell, the new team has identified marketplace opportunities, is engaging new accounts and is already delivering a solid contribution to Tandem’s journey.
Additionally, Sheehan has increased personnel in business development, sales and vendor services. He recapped by saying, “We look forward to 2021 and the future as Tandem Finance grows and expands its targeted vertical markets and national sales organization. We are always looking to add quality sales team members, vertical market specialists and possibly small teams of producers.”
Tandem Finance Inc. provides equipment financing to SMBs in the U.S. through the equipment vendor channel. Tandem Finance is a wholly-owned subsidiary of Chesswood Group Limited. Chesswood Group Limited, publicly traded on the Toronto Stock Exchange (TSX: CHW), is a financial services company operating in the specialty finance industry in North America.
Announcement to our Customers: Tandem Finance New Website
Michael Sheehan, President
It is with great pleasure that I introduce you to our new website: www.tandemfinance.com.
Tandem Finance, based in Houston, Texas, provides small and medium-sized businesses of all credit categories with financing for their equipment purchases, through equipment vendors and distributors. We offer more than thirty years of unique expertise in both prime and non-prime commercial lending to the SMB customer profile.
As THE ONLY publicly-traded company in this space, our objective is to simplify the equipment finance process by creating innovative and easy solutions for our customers and vendors. Our new website is designed around and in support of that objective.
We are looking forward to an exciting 2019 and our continued commitment to being a trusted and reliable leader in finance for American businesses, by providing superior customer service and flexible solutions.
Tandem Finance is a wholly-owned subsidiary of Chesswood Group Limited. Chesswood Group Limited, publicly traded on the Toronto Stock Exchange (TSX: CHW ), is a financial services company operating in the specialty finance industry in North America. Chesswood has funded more than $2.0 Billion of leases and loans for 100,000+ customers.
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Section 179 at a Glance
Made available by Section179.org
Here’s how IRS Section 179 works:
In years past, when your business bought qualifying equipment, it typically wrote it off a little at a time through depreciation. In other words, if your company spends $50,000 on a machine, it gets to write off (say) $10,000 a year for five years (these numbers are only meant to give you an example).