Area of Focus Commercial Equipment Finance
Partnership Date 2019
Headquarters Rancho Cucamonga, California
Company Profile
A leading commercial equipment financing company with operations throughout the United States
Crossroads Equipment Lease and Finance (“Crossroads”), is a leading equipment finance provider focused on small and medium-sized businesses in California and across the United States. Crossroads was originally created as a financing partner for Vehicle Velocity Group’s truck dealership business. Since then, it has developed into a leading, independent equipment finance business.
Founded by Brad Fauvre and Conan Barker and led by Howard Shiebler, Crossroads prides itself on building long-term business relationships by offering prompt, flexible financing that preserves capital and positively impacts their clients’ business. Howard is an experienced financial services executive and has built a strong team. Their expertise in underwriting, collateral evaluation and asset re-marketing facilitates solutions that maximize the competitive advantages for their customers.
Crossroads is a leader in serving large and small fleets and independent owner-operators with equipment financing solutions as well as a national lender with an array of financial products designed to help businesses succeed. The company was founded in 2006. Crossroads is based in Rancho Cucamonga, CA with offices throughout the United States.
Partnership Highlights
- Cranemere partnered with the founders of Crossroads in July 2019 and recapitalized the business.
- Crossroads is the largest lender under the California Capital Access Program which was created in 1994 with the aim of increasing access to capital for small and medium businesses to obtain financing for commercial vehicles.
- Since the Crossroads and Cranemere partnership, the company has significantly increased its originations, expanded geographically and completed its first securitization.