Seattle, WA—Orion First has surpassed $2 billion in assets under management. This milestone comes only 16 months after reaching its previous benchmark of $1 billion.
The assets under management consist of small business commercial loans and leases for which Orion provides all back-office portfolio management, servicing and collection duties for a clientele that ranges from federally regulated banks to independent finance companies.
“It’s proof of our performance, that we’ve got a good product,” says David T. Schaefer, CEO of Orion First. “Passing one billion was a big one—we’ve shown that we’re here to stay. Now we’re showing that we can continue to scale and deliver value. It’s gratifying, for us and for our clients. We’re ready for whatever 2020 brings.”
Orion’s impressive growth is attributable to several key factors. It has a highly skilled team that continues to grow; it has invested heavily in developing its own proprietary technology; it maintains a clear-eyed strategic focus on its core strengths; and it keeps its eye on future trends and developments in both the marketplace and in technology.
2019 was a banner year for acquisition of new clients and portfolio growth of Orion’s existing client base. New clients included start-ups as well as established finance companies with seasoned portfolios. “We see more finance companies considering outsourcing their portfolio servicing function,” continues Schaefer. “They’re relying on us to manage their portfolio, mitigate risk, and continue to scale our operation as their new business originations continue to grow.”
Looking forward for Orion, 2020 is set to be a year of increased new business volume and continued investment in human resources and technology, which will position Orion to meet the needs of its growing clients and assure strong portfolio performance in future years.
About Orion First:
A leader in commercial finance, Orion has been in the loan, lease and contract management space since 2001. Its suite of services includes commercial loan and lease servicing, commercial collections, proprietary scoring and decisioning products, and backup servicing. By pairing effective technology with experienced professional staff, Orion positions itself as a savvy manager of risk, empowering clients to focus their entrepreneurial energy on their greatest value—funding small businesses.
The National Equipment Finance Association (NEFA) is a nonprofit trade association created to represent the equipment leasing and finance industry throughout North America by providing a forum for personal and professional growth through Community, Education and Professionalism.