This past year proved to be a momentous year for Northpoint Commercial Finance (Northpoint), a provider of multi-industry inventory finance solutions throughout the United States and Canada. During 2017, Northpoint was not only acquired by LBC Capital, a division of Laurentian Bank, but also exceeded one billion dollars in receivables.
“The cornerstone of the Northpoint value proposition is customer satisfaction,” said Northpoint CEO Dan Radley. “Our unique approach and solutions that were created with our customers in mind, have led to our growth. The recent acquisition by LBC Capital will only strengthen our ability to drive future growth through innovative programs for the customers we serve.”
Northpoint’s inventory finance offerings drive sales, enhance cash flow, and improve profitability for both suppliers and dealers. After five years of impressive growth, Northpoint was acquired by LBC Capital during Q3 of 2017, an anticipated move as the business evolved. Laurentian Bank, which has been in business for over 170 years, came forward to provide the stability and financial strength with over $43 billion in assets. Not to mention a true cultural alignment, and strategic fit with their various financial products within LBC Capital.
President of LBC Capital, Eric Provost, explained that Laurentian Bank remains focused on facilitating the future evolution and success of Northpoint, and stated, “Northpoint has a solid track record and unique expertise in originating, managing, and growing this size of a portfolio, but what we are anticipating is even more future growth in 2018 as we work towards a scalable end-to-end equipment finance platform. From these predictions, Northpoint is slated to remain a long-term and commanding force in this marketplace.”
About Northpoint Commercial Finance
Northpoint Commercial Finance is a diversified inventory finance company that partners with manufacturers, distributors, resellers and dealers to provide flexible financing to their distribution channels. For more information, visit www.northpointcf.com.