First American Equipment Finance posts $605m new business

First American Equipment Finance, a wholly-owned subsidiary of Los Angeles-based City National Bank, has reported a 46% hike in new business volume in fiscal 2016, hitting a total of $605 million.

The results mark the company’s fourth straight year of growth of more than 25%.

First American added 30 new positions last year, increasing in size from 160 employees to 190 and expects to add a further 25 new employees this year.

First American supports large businesses and non-profit organizations across the US with their equipment leasing and finance needs, and is one of the largest equipment finance companies nationwide.

The company’s clients are offered a 100% paperless experience, an online lease tracking portal and an equipment trade-in program, backed up by access to on-demand video conferencing with First American specialists focused exclusively on their industry.

Alan Sikora, CEO said: “Our success is thanks to the hard work and dedication of our growing team. Our colleagues have passion to accomplish great things in business and in life.”