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Referral-Based Program Enables Financial Institutions to Offer Fleet Leasing Services to Clients
The Bancorp, Inc. (NASDAQ:TBBK) Commercial Lending is pleased to announce its new Fleet Alliance offering, which will enable financial institutions to incorporate vehicle and fleet leasing services into their commercial business offerings. The Fleet Alliance program is also offered to equipment leasing companies that do not focus on or provide fleet vehicle financing.
The Bancorp Commercial Lending business provides small business loans as well as commercial fleet leasing services for commercial and government use. The Fleet Alliance offering is an extension of the Bank’s fleet leasing services, offering financial institutions and equipment leasing companies the ability to refer clients to The Bancorp for turnkey fleet leasing solutions coupled with national fleet discount pricing. This referral program also allows financial institutions to become a single source for commercial lending and fleet leasing services.
The new Fleet Alliance offering compliments Commercial Lending’s SBAlliance™ program, which provides financial institutions the ability to initiate Small Business Administration (SBA) loans through The Bancorp on behalf of their clients. Similar to the SBAlliance™ program, Fleet Alliance is a behind-the-scenes service enabling the Bank’s partners to manage their client relationships.
"The Fleet Alliance program allows us to share our expertise with financial institutions and our SBAlliance™ partners who may have the need, but not the resources, to manage financial and operational aspects of fleet leasing operations for their clients," said Jeff Nager, EVP, Head of The Bancorp Commercial Lending business. "Fleet Alliance partners can offer their clients a value-added service that results in time and cost savings, and also foster new and existing client relationships."
About The Bancorp
The Bancorp, Inc. (NASDAQ:TBBK) is dedicated to serving the unique needs of non-bank financial service companies, ranging from entrepreneurial start-ups to those on the Fortune 500. The company’s subsidiary, The Bancorp Bank (Member FDIC, Equal Housing Lender), has been repeatedly recognized in the payments industry as the Top Issuer of Prepaid Cards (US), a top merchant sponsor bank and a top ACH originator. Specialized lending distinctions include SBA National Preferred Lender, a leading provider of securities-backed lines of credit, and one of the few bank-owned commercial vehicle leasing groups in the nation. For more information please visit www.thebancorp.com.
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Rachel Weiss, VP Communications Manager
Andres Viroslav, Director of Investor Relations