Financial Federal Snapshot
Has your crane been grounded, your Caterpillar lost its wiggle, or your bulldozer become hamburger? People's United Equipment Finance (formerly Financial Federal) is able to help. The company provides loans, leases, and installment sales plans for heavy-duty industrial and commercial equipment, such as bulldozers, buses, cement mixers, cranes, earthmovers, trucks, recycling equipment, and tools. Customers are mainly small to mid-size construction firms, waste-disposal businesses, and trucking companies in the US with annual sales less than $25 million. Virtually all of its receivables are secured by first liens on the equipment financed. People's United Financial acquired the company in 2010 for $738 million.