Mission.
Innovation Finance® is building the best, most trusted business equipment financing platform in the world.
Background.
Twenty-five years ago, first year Cornell Law School student Bill Verhelle, along with business partner Guy Klinger, founded First American Commercial Bancorp, Inc. (d/b/a First American Equipment Finance). They became experts at running a national commercial lending business, serving the interests of some of the largest and most sophisticated borrowers in America. First American continues to be one of the largest commercial equipment finance businesses operating in the U.S.1 In 2012, they sold First American Equipment Finance to City National BankTM. Three years later, in 2015, Bill left to contemplate an entirely new business model for the equipment finance industry. Innovation Finance was founded in 2018. Several top officers from First American (including its Chief Credit Officer and its Chief Technology Officer) joined the new company.
CEO, FOUNDER
The Existing Business Model is Broken.
Like many aspects of the old banking model the $1 Trillion per year U.S. business equipment finance model is likely to change dramatically in the coming decade. Technology companies will eventually enter and transform distribution and servicing, if not lending, within this large market. QuickFi offers banks an option to jump from where they are today, to a 100% mobile, digital, borrower self-service delivery model providing massive cost and time savings. Because QuickFi is an end-to-end white-labeled solution, there are no required integrations. QuickFi can be operational for a new bank or captive manufacturer business partner in less than 30 days. Because QuickFi requires no up front cost and no long-term commitment, the decision to implement QuickFi is easy.
The QuickFi Opportunity.
- Monitor Daily. (January 8, 2019). Monitor 100.
