NBF Capital, LLC is a thriving group of Financial Service Companies which maintains headquarters in Salt Lake City, Utah. Founded in 2002, NBF Capital LLC strives to meet the financing needs of multiple constituencies across numerous industries. NBF Capital, LLC dba National Business Finance ( NBF ) was formed in March 2002 in Salt Lake City, Utah. The company was established to take advantage of the opportunities in equipment financing that came into existence as a result of several lending organizations leaving the leasing industry. Since 1999, the number of equipment leasing companies has sharply declined due to heavy losses associated with poor portfolio performance and a lackluster economy in specific industries such as transportation and construction. These industries experienced high delinquency, erosion of collateral values, and lessee operating losses. Companies such as The Associates ( now Citicapital ), GreenTree Financial, Newcourt Financial, Soris Financial and others, experienced tremendous losses in their transportation portfolios largely due to unsound credit practices employed during the late 1990s in efforts to boost market share. For example, The Associates, the perennial market leader in the transportation industry, financed first-time owner/operator truck drivers with as little as 5% down on new equipment with significant curb-side depreciation and F.E.T. To remain competitive, other lessors followed suit. When the economy softened, independent truck drivers lost their haul sources and could not make their equipment payments. The result was a huge repossession rate, which further eroded the value of used equipment. NBF employs solid lending strategies designed to create and maintain a performing portfolio even during the weakest economic periods. Specifically, NBFs policy is to fund only those borrowers that have the ability to repay based on their industry experience and the strength and viability of their current employment arrangement. Furthermore, NBF structures and prices transactions appropriately to manage the overall risk. Presently, there are far more sub-prime transactions available than there are dollars to fund them. As a result, NBF is able to pick and choose the transactions to include in the portfolio. To date about one transaction in ten applications is funded. Additionally, the pure supply-and-demand aspects of this type of financing enable NBF to command a premium when including a particular transaction in the portfolio. If a customer cannot accept the approved terms, there are plenty of others that will. Despite the high rates on the portfolio ( typically 25% plus ), NBF structures transactions that result in payments that can be made by the borrowers in the normal course of their business. It would not make good business sense to price and structure transactions that were overly burdensome for borrowers. The flow of business into the NBF portfolio is originated through established vendors, construction and trucking companies, and repeat customers. When NBF receives a financing request, they perform exhaustive research and analytical measures. No customer is approved for financing that has not been contacted personally, and in detail by one of the NBF principals. Quite often these borrowers have stories to tell regarding personal credit and other factors that are evaluated by the NBF officers. Once the borrower has been fully scrutinized, the collateral is evaluated to validate condition and value. Due to the high curb-side depreciation associated with new equipment and the Federal Excise Tax assessed on new class-8 tractors & trailers, NBF prefers to finance used equipment. The equipment will not be specialized, but will have a ready market should repossession become necessary. In addition to the equipment to be financed, NBF always asks for additional collateral when conditions warrant. Collateral risk is also offset by vendor recourse whenever possible. This greatly assis