SALT LAKE CITY, Aug. 3, 2016 /PRNewswire/ -- Tetra Financial Group announced today that it had successfully completed the purchase of an approximately $15 million portfolio of commercial leases and loans from a national bank. The purchase was completed at the close of the first quarter of 2016 and contained transactions representing a diverse array of underlying assets from a wide range of industries, including some distressed or difficult-to-finance industries such as the hospitality and energy sectors.
Tetra Financial was able to underwrite every transaction, within the portfolio, and close on the purchase within weeks, without using outside financing. "This transaction represents significant aspects of our business model and growth strategy as a company," said Jordan Greenwell, Tetra's Chief Credit Officer. "We look for strategic opportunities where we can quickly put our distinctive approach to credit analytics and our internal financing capabilities to both serve our customers and grow our business. Ultimately, that allows us to move quickly and has enabled us to execute on this purchase in such a short amount of time."
Tetra Financial is a growing leader in the Equipment Finance and Leasing industry and specializes in underwriting and funding transactions across varied industries and asset classes. Frequently taking on complicated underwriting projects often passed over by other lenders, Tetra Financial prides itself on working through complex transactions that take patience and expertise to close.
For more information on this portfolio purchase, contact Jordan Greenwell at (801) 748-2200 x 228. To discuss your financing needs, contact Greg Emery at (801) 748-2200 ext. 206. For further information on Tetra Financial Group, please visit www.tetrafg.com.
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SOURCE Tetra Financial Group