Established in 1981, Presidential Financial is a national asset-based commercial finance company that lends working capital secured by borrower’s accounts receivable. The firm finances about 200 new customers a year and specializes in loans to commercial and healthcare businesses that have annual revenues of up to $20 million.
Presidential is one of the country’s largest asset-based lenders that isn’t bank-owned. Its private, independent status allows the firm to be a resource for hundreds of financial institutions, whose referrals account for 70 percent of Presidential’s customer base.
The company has two service lines, one for commercial enterprises – mainly manufacturers, wholesale distributors and business service firms – and another to meet the unique needs of healthcare businesses, such as home care firms, physician practices and skilled nursing facilities. The latter is administered by Presidential Healthcare Credit, a division of Presidential Financial formed in 2005 with the acquisition of Alamo Capital (founded in 1989).
Lines of credit range from $25,000 to $1.25 million for commercial businesses and $250,000 to $3 million for healthcare providers. Presidential arranges participation agreements for lines greater than $1.25 million.
Headquartered in Atlanta, Presidential has regional offices in Baltimore, Boston, Chicago, San Antonio, Sewell, N.J. ( Philadelphia market) and Tampa, and satellite offices in Dallas, Ft. Lauderdale, Jamestown, N.C., Miami; Memphis, Pittsburgh and Vienna, Va. The company's ownership is majority institutional investors, and includes Presidential executives as well.
The Commercial Finance Association (CFA), the trade organization for the asset-based finance industry, measures company size by the total of borrowers’ outstanding loans. It segments the industry into four tiers:
| 1981 | Presidential Financial was founded as a commercial finance company focused on higher risk, highly monitored short-term asset-based lines of credit for small businesses in the Atlanta region. The maximum credit line available was $75,000. |
| 1983 | Having met its initial goals in two years, the company started its expansion in the Southeast, beginning with its entrance into the North Carolina market. |
| 1984 | Presidential entered the Florida market. |
| 1985 | Presidential expanded its Southeast presence; entered the Tennessee market. |
| 1987 | Presidential entered the New England market. |
| 1989 | Presidential entered the Midwest market. |
| 1990 | Presidential entered the Delware Valley market. |
| 1992 | Presidential entered Chesapeake market. |
| 2002 | Two of the company's founders bought out by third owner. . |
| 2004 | Institutional investors purchased majority interest in Presidential. Executive management team retained ownership position and remained in place. |
| 2005 | Presidential entered the healthcare finance sector with its acquisition of San Antonio-based Alamo Capital Corporation (founded in 1989), now a division known as Presidential Healthcare Credit. |
| 2006 | Presidential entered Southwest market. |
