WINSTON SALEM, North Carolina, August 8, 2022 /PRNewswire/ — Parsonex Capital Partners (“Parsonex”) today announced the launch of a credit enhancement facility in favor of a class 8 truck lease originator, Traction Capital and Leasing. (“Traction”), one of the most committed partners of truck drivers across the country.
Traction was founded to help hard-working small business owners navigate the sometimes frustrating and confusing financial process required to secure a truck. “We’re here to help dealers and drivers find financing solutions that help get trucks and trailers on the road and business owners in the driver’s seat,” says Dakota Forgione, the general manager of the company. “Traction is committed to giving small business owners the tools they need to succeed. Commercial drivers are America’s backbone and we’re proud to capitalize on their future. We’re excited to work with Parsonex to develop the Traction Capital and Leasing business.
Last year, trucking companies in United States suffered a record shortfall of 80,000 drivers, according to the American Trucking Associations, a trade association. “There is no magic bullet to solve this problem,” says Robert Costello, chief economist of the trade association. “We need to get more people into the industry.” Backed by Parsonex, Traction works hard to help do just that, get more drivers on the road.
“Given the logistical hurdles the country faces, getting more drivers onto the trucks through the Credit Enhancement Facility with Traction creates a win-win solution for the country’s drivers and supply chain,” says Fred AdamsChief Investment Officer of Parsonex.
President and CEO of Parsonex, Jonathan Miller agrees that truck drivers are in high demand and the timing of this opportunity for Traction could be once in a lifetime. “Parsonex has an incredible and experienced team and in partnership with the leadership and expertise of Traction, I anticipate we will see significant growth in their business and am delighted to be involved in helping drivers get started during this unique time. in our country.
Parsonex Capital Partners
Parsonex Capital Partners (Parsonex), headquartered in Englewood, Colorado, is a private fund sponsor, focused on real estate development, qualified opportunity areas and special situations. In specific situations, Parsonex primarily focuses on commercial and industrial (C&I) assets or loans and non-performing commercial loans and real estate assets that are distressed, undervalued or value added.
PARSONEX CAPITAL PARTNERS
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SOURCE Parsonex Capital Partners, LLC