Ecologic Partners with Boart Longyear Financial Services

WASHINGTON, D.C., Sept. 20, 2011 /PRNewswire/ -- Ecologic Leasing Services announced today that its subsidiary, Ecologic Vendor Services, has signed a long-term agreement with Boart Longyear Financial Services (BLFS), a global vendor captive financing organization. BLFS will offer their customers competitive financing solutions for Boart Longyear mineral exploration drilling equipment.

"Our customers will have access to Boart Longyear drilling technologies through versatile financing options. We partnered with Ecologic because they have the experience and network to bring competitive financing solutions to our customers. This new tool will give many customers the option to finance drilling equipment, as opposed to an outright purchase, resulting in better working capital options to further growth," said Boart Longyear Vice President of Products, Alan Sides.

Michael Keeler, CEO, Ecologic Leasing Services explained, "We have established a dedicated financing sales team to customize financing offers for each of Boart Longyear's drilling platforms to meet the needs of qualified customers. Our operations team will perform a detailed, independent, and objective credit analysis for each customer, source the capital by completing the transaction in the relevant country through the Global Lessor Network, and make the documentation process fast and simple."

Boart Longyear Financial Services' financing offerings are now available to customers in the USA and Canada. In the coming months, the service will also become available in Australia and Chile, and continued global expansion will continue through 2012.

About Ecologic Leasing Services:

Ecologic Leasing Services offers outsourcing and software services to vendor captives and corporate lessees that need to finance equipment competitively around the world. The Company currently supports lease transactions in 44 countries. Vendor captives employ Ecologic's services to help them finance the sale of their equipment to their customers at the point-of-sale using the best available funding sources wherever they operate around the world. Using their Global Lessor Network, the Company enables vendor captives and lessees to find the best match lessor for each transaction in each country. For each client, Ecologic deploys, customizes, and integrates its unique web-based leasing and asset management software services, LeaseAccelerator. Founded in 2000, the Company is headquartered in Northern Virginia, with offices in Montreal, San Francisco, and Mumbai.

The company can be found on the Web at http://www.ecologicleasing.com. Lessors can join the Global Lessor Network and bid on transactions that match their interests and geography at http://www.lessornetwork.com.

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SOURCE Ecologic Leasing Services