LeaseChoice
In April 2010, Firstfolio entered the asset finance market through the acquisition of Leasechoice - specialists in business equipment finance and leasing solutions.
Following the acquistion, Firstfolio CEO Mark Forsyth said: “Diversification of product and client portfolio has been a major goal for Firstfolio, and we have always been opportunistic in adding new financial service components that could benefit from our existing distribution platform. “We have also put a priority on expanding into adjacent segments, particularly the SME market. As a leading provider of asset finance to sole traders, successful SMEs and larger companies, LeaseChoice fits this bill perfectly,”
Mission Statement
• To become the dominant provider of Operating Lease (Rental) finance to SME’s in Australia
• To consolidate new business opportunities and synergies within the Firstfolio distribution network
Business Model
Leasechoice operates via a nation-wide network of Third Party Introducers, including Equipment Vendors/Suppliers, Non-Bank Financial Institutions, Mortgage Aggregators and Commercial Finance Brokers.
A dedicated team of equipment finance specialists, with a combined 150+ years of experience, ensures that every application, and every applicant, receives the best possible chance of obtaining a lease finance approval appropriate to their circumstances.
In addition to providing access to virtually the full range of Equipment Finance facilities in the local market through its role as Aggregator, Leasechoice offers its own unique product, designated ‘Prime Low Doc’.
Prime Low Doc is the ‘core’ product offering to the SME segment, incorporating ease of access to Lease finance, with a tried and tested credit matrix ensuring portfolio quality is maintained.
A web-based, Online Application system enables efficient processing and management of new applications, providing users with an additional functionality, including online quoting, and Customer Relationship Management.
With the SME segment continually identified as the most credit-neglected, the Leasechoice business model continues to deliver positive outcomes for thousands of business owners across the Country.
The Future
Leasechoice continues to expand its distribution in a measured fashion, ensuring that the quality of its business partners mirrors the professionalism of both Leasechoice and the Firstfolio Group itself. As a result, iconic brands such as Mortgage Choice, Choice Home Loans, Securitor, Club Financial Services, Astute Financial and LJ Hooker Financial Services are but a few of the many Industry groups who choose to meet their clients’ needs for Equipment Finance through a partnering with Leasechoice.
LeaseChoice News
