is a specialty finance company that orginates, acquires, funds,
sells and services equipment leases. Equipment financed by the Company
is diversified and includes embroidery, screen printing, printing,
computer, franchisee, furniture and fixtures, automotive repair
and diagnostic, and general office and other equipment. The equipment
finance by the Company has an average purchase price of $50,000
per lease and is generally priced at $250,000 or less. The Company
funds the origination or acquisition of its leases through its Warehouse
Credit Lines and Credit Facilities. After retaining leases to form
a portfolio of sufficient size, the Company sells the cash flow
stream of the lease receivables on a non-recourse or limited recourse
basis. The Company generally retains servicing rights on all leases
it underwrites and is paid monthly servicing fees.
CHB's interest in USA Capital was sold in 2000.
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