October 10, 2004
COMMERCIAL CREDIT GROUP BEGINS OPERATIONS AND ANNOUNCES THE APPOINTMENT OF SENIOR OFFICERS
Charlotte, NC (October 20, 2004) – Commercial Credit Group Inc. (CCG), a newly formed middle-market commercial equipment finance and leasing company announced today that it has secured equity investments from three institutional investors, has closed on its senior credit facility and has commenced operations.
Co-founder, President and CEO, Dan McDonough comments on the appointment of the additional co-founders as Senior Vice Presidents – W.J. Mattocks, Kevin T. McGinn and Richard W. Radom, and on the Company’s operating focus: “Joe, Kevin and Dick, bring a wealth of experience, on average 26 years, to the Company. Our management team, together with the support of our diverse equity partners and our senior lender, give the Company a strong foundation upon which to grow its business. Recent consolidation of specialty commercial finance companies and the standardization of our industry have left a true need for an independent, full service organization that delivers customer service and a straight-forward approach to doing business.”
CCG’s primary areas of focus are purchase money and refinance transactions in the construction, fleet transportation and waste industries. Transactions are sourced through end-users and equipment vendors and manufacturers with a typical transaction size of $50,000 to $1,500,000.
Headquartered in Charlotte, NC, the Company also has a satellite office in Chicago, IL.
For more information about Commercial Credit Group Inc., please visit us at www.commercialcreditgroup.com.