Making The Grade
Resilience In Adversity
Each year equipment finance companies are recognized in the Monitor 101+ ranking. They have demonstrated the ability to connect capital to opportunity and are being recognized for the strength and resilience of their businesses. Flourishing amidst economic uncertainty is no small task given the continued business disruptions faced by the industry, including the COVID-19 pandemic, inflation, rising costs, supply chain issues, new technologies, rapid growth and regulatory compliance — to name just a few.
Change Is Constant
Forward-thinking secured finance business leaders — like those recognized on the Monitor 101+ list — know they must continue to grow through change and business disruption to remain competitive; market leaders embrace technology that can help transform these challenges into opportunities.
This year’s group of Monitor 101+ companies, which grew to 35 and included 22 Independents, 11 U.S. Bank Affiliates and two Captives, combined to accrue $3,419 million in net assets in 2021, marking a 20% increase from 2020, while reporting $2,877.6 million in new business volume, a total that surpassed the group’s 2020 output by 30.8%.
On the Rise
Commercial Capital Company is recognized in the 2022 Monitor 101+ ranking as a company with the ability to thrive amidst economic uncertainty.
Independents easily accounted for the lion’s share of the new business volume total for the entire Monitor 101+ group. As an independent, Commercial Capital Company joined the $100 million club among Monitor 101+ companies this year.
Commercial Capital Company is committed to providing the best capital equipment financing experience to businesses and equipment vendors. As a family-owned lease financing company, Commercial Capital understands each small business has individual capital financing needs. It builds relationships by listening to clients and providing funding solutions that cultivate growth. Commercial Capital Company is also strengthening local communities through its philanthropic program.
Mitch Rice shares with Monitor how he came into the industry and has consistently remained successful in his endeavors.
“I can’t picture myself doing anything else [and impacting other businesses] as i’m able to do financing the equipment they need to achieve their goals and grow their businesses.”
– Mitch Rice
With a family background in equipment finance, Mitch Rice, CEO at Commercial Capital Company, started in equipment finance sales and learned all aspects of the business. With 22 years of experience in equipment financing, Rice is passionate about the industry, as well as Commercial Capital and its team, as he finds the job very rewarding. Customers are returning to purchase more equipment as their businesses continue to grow, and, according to Rice, with fast, easy access to equipment funding, small business owners see benefits from a long-term partnership with Commercial Capital.
“We saw growth in 2020 over 2019. Then again in 2021 and once more in 2022. We worked through it, we came out stronger on the other side, that’s for sure,”
– Mitch Rice
A Forward Thinking Strategy
After a major systems upgrade, Rice’s team was more prepared to navigate the change from in-office work to remote work during the height of the COVID-19 pandemic. Commercial Capital has been affected by the pandemic, Rice says, but not in any negative ways.
Taking care of customers is the right thing to do, Rice says, so Commercial Capital deferred payments for those customers that needed it early in the pandemic. The company also moved to a new facility that gave its team the infrastructure to better manage end-of-lease and repossessions. The pandemic allowed Rice and Commercial Capital to utilize its warehouse facility as a showroom for used equipment. An up-to-date website actively markets the used equipment supported by email campaigns and social media.
With a clear strategy, Rice faces challenges head on with the flexibility to evolve as market conditions change. These real-time evaluations are informative, allowing the team to adjust to new conditions and stay on target. According to Rice, new technologies have allowed Commercial Capital to invest in systems and various tools that can help it compete with much larger companies.
Looking forward, Commercial Capital has been able to turn uncertainty into opportunity by listening to clients and providing them with flexible financing solutions that help their small businesses succeed.
Creating Possibilities, Funding Your Vision
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