Chesswood Announces the Merger of its Blue Chip Leasing Subsidiary with Vault Credit Corporation
Apr 7, 2021
TORONTO, CAN – Chesswood Group Limited (“Chesswood” or the “Company”) (TSX: CHW), a North American commercial equipment finance provider for small and medium-sized businesses, today announces that it has entered into a definitive agreement to merge its subsidiary Blue Chip Leasing Corporation with Vault Credit Corporation (Vault Group of Companies’ leasing division), increasing the scale of its equipment finance business in Canada. The combined entity will be managed by Daniel Wittlin and Vault’s senior management team. The merger will result in Chesswood holding a controlling 51% ownership interest in a newly created corporation which wholly-owns each of Blue Chip and Vault […]
Tandem Finance bolsters Bardwell’s new
JAN 26, 2021
FORT COLLINS, COLO. – Tandem Finance announces the recent formation of Tandem Transportation Finance. The new team is led by industry veteran and Tandem General Sales Manager of Transportation and Construction, Mike Bardwell. He and the company have rostered industry veterans: Greg Clemens, Warren Story, Dallas Bardwell, Robert Fischer and Carl Meinhardt to launch them into the national transportation marketplace.
Bardwell says, "our focus is to reach out and support the established commercial transportation dealers in the lower 48 states while providing consistent service, deep credit and risk-adjusted pricing. We're building a strong performing portfolio of high-quality transportation equipment assets."
Tandem is prepared to deliver competitive credit approvals from "A" to "Startup" credit profiles. A dedicated Vendor Service Team designed to support the commercial trucking dealership's unique needs has been established. Bardwell closes by stating, "With our appetite for a wide range of commercial credit profiles in vocational, medium-duty and select Class-8 applications, Tandem Transportation Finance will serve a wide cross-section of the needs that are not fully served in today's marketplace."
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.
|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.”
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.
Operating Income of $9.4 million in the Quarter Portfolio Exceeds $850 Million with More Than 32,000 Finance Contracts TORONTO, November 12, 2018 – Chesswood Group Limited (“Chesswood” or “the Company”) (TSX: CHW), a North American […]
Improved and Expanded Funding for U.S. Prime Receivables TORONTO, August 20, 2018 – Chesswood Group Limited (TSX: CHW) (“Chesswood” or the “Company”) announced today that its largest subsidiary, Pawnee Leasing Corporation (“Pawnee”), has closed a […]
Eighth Consecutive Year of Record Operating Income and Originations Income before Taxes of $32.7 million vs $27.8 in 2017 TORONTO, March 13, 2019 – Chesswood Group Limited (“Chesswood” or “the Company”) (TSX: CHW), a North American commercial equipment finance provider for small and [...]
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).