Byline Financial Group’s fast-growing equipment finance division was named to the Monitor 100 as one of the top U.S. equipment finance companies. Byline Financial Group’s year-over-year total assets grew by 58% in 2022, landing Byline Financial Group at No. 84, a jump of 15 spots from No. 99 on last year’s Monitor 100 list.
Byline Financial Group grew its assets to $357.8 million in 2022 from $226.4 million in 2021. New business volume nearly doubled year over year, from $126.9 million in 2021 to $249 million in 2022. Lyndon Thompson, president at Byline Financial Group, credits the success to outstanding servicing of customers quickly and on time. The Material Handling and Compact Utility groups have been leading the way for growth.
“We continue to punch above our weight for the clients in the industries we deal with,” said Thompson. “Our team serves manufacturers, dealers and end user customers nationwide with seamless customer service to ensure that business owners have access to the equipment they need during this difficult time for small business owners.”
Byline Financial Group is a full-service commercial financing business servicing all aspects of the transaction, from inception to termination under one roof in Bannockburn, IL. Alongside Thompson, Amy Fischer, Dale Kiser, Brian Wunsch, Robert Condon, Sue Herndon and Steve Ginsberg have led the group to continued success by making quick informed decisions, acting on trends quickly, and always remaining focused on exceptional service paired with speed. Byline Financial Group is a wholly owned subsidiary of Byline Bank, Chicago, IL.
The Monitor 100 is published by MonitorDaily, a leading publication in the equipment finance industry. The list is an annual report of the largest equipment finance and leasing companies in the United States. More information about the Monitor 100 is available at monitor100.monitordaily.com.