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SUPERIOR, Colo. – July 24, 2006 – Key Equipment Finance today announced that it has been selected as the principal funding source on equipment leases originated by Evolv Financial Services, an affiliate of Evolv Solutions, LLC. Key Equipment Finance is the nation’s third-largest bank-held equipment leasing company and an affiliate of KeyCorp (NYSE: KEY). Evolv Solutions is a provider of document management and information technology solutions for companies of all types and sizes.
In June, 2005, KeyCorp selected Evolv to manage all of the company’s print and document management needs as part of its commitment to expanding business opportunities to minority and women-owned businesses. The success of that partnership prompted Key to explore other creative strategies for the inclusion of diverse suppliers, not only for the company’s procurement needs, but for those of its clients and prospective clients.
“At Key, we've made a commitment to the fact that diversity is a source of economic strength. Supplier diversity and inclusion are at the core of our business strategy,” said Poppie Parish, vice president, supplier diversity at Key. “Key's six-year managed print agreement with Evolv Solutions and their strategic alliance partner Xerox is but one example of our concerted effort to expand long-term relationships with viable minority and women-owned businesses. We are very excited about the strategic alliance that has taken place between Key Equipment Finance and Evolv Financial Services; this truly exemplifies the value of diversity.”
Evolv Financial Services will offer flexible financing options to commercial and federal government customers interested in leasing all types of equipment from a certified minority enterprise. The lease program will allow Evolv to boost sales by offering customers one-stop shopping and financing, tax benefits, equipment upgrade flexibility and better asset management.
“We are committed to helping our customers meet their document management and printing needs and wanted to develop a finance program with their budgets in mind,” said Ron Harland, Sr., president of Evolv Solutions. “Key Equipment Finance has a strong reputation for implementing vendor lease programs for companies around the world, and we were pleased to learn about their commitment to diversity. We look forward to working with them for years to come, both as a supplier and as a client.”
Evolv Financial Services is also an SBA certified firm, which enables the company to provide equipment leasing to a wider variety of end-user customers.
“Key has experienced Evolv’s commitment to serving its customers first-hand, and we anticipate that they will experience even greater customer satisfaction as a result of the ease of customer financing through this program,” said Karen Larson, chief operating officer of Key Equipment Finance’s global vendor services unit. “We are proud to partner with a company like Evolv and look forward to continuing this mutually beneficial partnership.”
About Evolv Financial Services (EFS)
Evolv Financial Services (EFS), an affiliate of Evolv Solutions, LLC provides a broad array of equipment finance and leasing solutions for companies located throughout the United States. By leveraging process improvement methodologies from Evolv Solutions, LLC; EFS has developed strategic financing services for large enterprises to small businesses as well as federal, state and local entities.
Evolv Financial Services addresses key business factors such as:
Organizational Cash flow
Tax Benefits
Technology and asset management
Flexibility, speed and convenience
Diversity initiatives and SBA and M/WBE Certifications
Evolv Financial Services is headquartered in Overland Park, Kansas just outside Kansas City and is supported by a staff dedicated to achieving one common goal - to provide an exceptional financing experience to each client. Our professionals offer unparalleled expertise in funding the specialized business needs, from construction and manufacturing to transportation and office equipment. The company focuses on Corporate, Healthcare, Public Sector and Federal markets. EFS simplifies the process of acquiring business essential equipment and technology, keeping it quick and efficient, so our customers can spend more time doing what they do best, running their business. For more information on Evolv Financial Services, visit www.evolvfinancial.com
About Key Equipment Finance
Key Equipment Finance is an affiliate of KeyCorp (NYSE: KEY) and provides business-to-business equipment financing solutions to businesses of many types and sizes. They focus on four distinct markets:
- businesses of all sizes in the U.S. and Canada (from small business to large corporate);
- equipment manufacturers, distributors and value-added resellers worldwide;
- federal, provincial, state and local governments as well as other public sector organizations; and
- lease advisory services for manufacturers’ captive leasing and finance companies.
Headquartered outside Boulder, Colorado, Key Equipment Finance manages a $12.6 billion equipment portfolio with annual originations of approximately $5.7 billion. The company has major management and operations bases in Toronto, Ontario; Albany, New York; Chicago, Illinois; Houston, Texas; London, England; and Sydney, Australia. The company, which operates in 26 countries and employs 1,100 people worldwide, has been in the equipment financing business for more than 30 years. Additional information regarding Key Equipment Finance, its products and services can be obtained online at KEFonline.com.
Cleveland-based KeyCorp is one of the nation's largest bank-based financial services companies, with assets of approximately $93 billion. Key companies provide investment management, retail and commercial banking, consumer finance, and investment banking products and services to individuals and companies throughout the United States and, for certain businesses, internationally.
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