Parsonex Capital Partners announced the launch of a credit enhancement facility to Class 8 truck lease origination company Traction Capital and Leasing.
Traction was founded to help small business owners navigate the sometimes frustrating and confusing finance process necessary for securing a truck, according to an announcement.
“We are here to help dealerships and drivers find financing alternatives that help put trucks and trailers on the road and business owners in the driver’s seat,” says Traction CEO Dakota Forgione. “Traction is committed to giving small business owners the tools they need to be successful. Commercial drivers are the backbone of America, and we are proud to be capitalizing their future. We are pleased to be working with Parsonex to grow the Traction capital and leasing business.”
Parsonex Chief Investment Officer Fred Adams says, “Given the logistical roadblocks the country is experiencing, getting more drivers into trucks through the credit enhancement facility with Traction creates a win-win solution for drivers and the country’s supply chain.”
Parsonex President and CEO Jonathan Miller agrees that drivers with trucks are in high demand and the timing of this opportunity for Traction could be once-in-a-lifetime.
“Parsonex has an amazing and experienced team and partnered with Traction’s leadership and industry expertise, I anticipate we will see significant growth in their business, and I am thrilled to be involved in helping drivers get started during this unique time in our country,” Miller says.