Huntington Equipment Finance
“Clients only need only do one transaction with us, we do not need them to do their private banking with us or commit any more of their capital,” says Richard Barret, senior vice president, Huntington Equipment Finance.
As a dedicated asset financier Huntington is interested in deals rather than selling ancillary services. “Nearly all lenders only do private bank clients, like Wells Fargo and Bank of America. Huntington is different. We create an environment where if an individual has capacity issues with their bank, their primary lender, we can offer them finance,” says Barret.
Barret joined Huntington Bank in November 2010 to build a business aircraft financing group. Prior to joining Huntington he worked for RBS Asset Finance and has more than 30 years of aircraft financing experience.
Huntington is a US domestic lender only. Its loan deals range between $3 million and $50 million, with terms typically 5 to 10 years.
Huntington covers operating leasing, synthetic leasing, and offers fixed or floating rates. It does not offer non-recourse loans.
The aircraft age limit is 18-years-old, and the age of the aircraft plus the amortisation cannot exceed 25 years.
Huntington lends to high-net-worth-individuals, middle market operators and investment grade companies. The group also finances helicopters, primarily helicopter operators.