The relationship with Patriot Capital enables Intellifuel Systems to provide flexible financing options to its install and prospect network interested in obtaining equipment. A finance program for new equipment purchases will allow the clients and prospects of Intellifuel Systems to address their [image-nocss] site data capture and wireless gauging needs, ensure they have the equipment to increase process efficiency and promote their respective brands within the market place.
Now is an ideal time for petroleum marketers and dealers to take advantage of the Patriot Capital partnership because recent tax benefits in the new Stimulus Package allow equipment buyers to write off a large amount of their purchases as a tax deduction in 2009.
"We know that petroleum marketers and dealers are navigating a difficult financial environment, and we were looking for an equipment finance partner who could help us develop a flexible finance program that would enable us to meet the needs of our customer base. When we weighed Patriot Capital's experience, field sales support, marketing capabilities and comprehensive knowledge of the retail petroleum business, they stood out as the obvious choice," said Rick Evans, president of Intellifuel Systems.
He added, "Patriot Capital Corp. is widely recognized as a leading finance partner for the petroleum equipment industry nationwide, and we look forward to working with them to provide a total solution with the budgets of our clients and prospects in mind. Patriot Capital provides great value in our push for site data capture, wireless gauging needs and fuel inventory optimization for our clients."
Intellifuel Systems noted Patriot Capital's marketing support and commitment to customer service, as well as its reputation for implementing successful vendor lease programs, as the primary reasons for selecting Patriot Capital as the company's leasing partner.
"Intellifuel Systems is committed to meeting the needs of its clients and prospects, and recognizes the importance of providing financing options," said Chris Santy, managing director of Patriot Capital. "We anticipate that our access to capital, competitive pricing, flexible structures and outstanding customer service will help Intellifuel Systems serve their network."
Patriot Capital has originated and funded more than $300 million in retail petroleum equipment, car washes and other equipment since its inception, it said.
Intellifuel provides site data capture tools coupled with scalable, Internet-based processes supporting petroleum marketers and renewable fuels manufacturers. Its solutions provide support for logistics planning, dealer settlement, custody transfer and environmental compliance.
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