Centra Funding, LLC is a nationwide equipment finance company based in Plano, Texas. It is dedicated to providing fast and straightforward financing solutions for small and medium-sized businesses. Founded in 2006 by President John Boettigheimer, Centra has grown to serve various industries across the United States.
Services Offered by Centra Funding
Centra Funding offers a variety of services designed to simplify the equipment financing process:
- One-Page Application: A streamlined application process that requires minimal paperwork.
- Prompt Credit Decisions: Quick evaluations to expedite funding.
- Electronic Documents: Agreements can be signed electronically on any device.
- Same-Day Fundings: Funds are disbursed promptly upon approval.
- Custom, Low-Rate Financing: Tailored financing options to suit different budgets.
- Vendor Programs: Collaborations with equipment vendors to offer integrated financing solutions.
Leadership Team
The leadership team at Centra Funding includes:
- Jim Crystal: Chairman & CEO
- John Boettigheimer: President
- John De Mata: Chief Financial Officer
- Jay Liebowitz: VP, Finance, Strategy & Corporate Development, Treasurer
Strategic Acquisitions and Growth
In May 2024, Centra Funding acquired the LeaseQ Restaurant and Franchise Team and its equipment finance platform from TimePayment Corp. This acquisition led to the launch of Centra Culinary Finance, reinforcing Centra’s commitment to the food service industry. The existing team, led by Sandra VanBuren and Kim Lorang, continues to provide specialized financing solutions under the new brand.
Additionally, in March 2021, Centra completed its first securitization of equipment finance receivables, amounting to approximately $65 million. The proceeds were used to support the company’s ongoing growth.
Broker Program
Centra Funding offers a 4-Hour Funding Broker Program featuring an all-electronic funding process. Brokers can apply online, receive credit approvals, and have clients sign finance contracts electronically. The program supports transactions under $75,000, with funding occurring minutes after electronic signing.
Customer Experiences
Centra Funding has received mixed reviews from clients. Positive feedback often highlights the company’s efficiency and customer service. For instance, a customer noted a “wonderful experience” with a representative who was “patient in answering our questions and very responsive,” emphasizing the “ease of the financing process and turnaround time for loan approval/funds issued.”
However, there have been complaints as well. One customer reported a billing issue concerning an equipment loan, describing the payoff amount as “egregious and excessive.” Centra responded by referring to the terms outlined in the signed customer contract.
Conclusion
Centra Funding, LLC, positions itself as a key player in the equipment financing sector, offering a range of services tailored to small and medium-sized businesses. With strategic acquisitions like LeaseQ and initiatives such as the 4-Hour Funding Broker Program, the Center is committed to growth and innovation. Prospective clients are encouraged to review contract terms carefully and consider positive and negative customer feedback when evaluating Centra’s services.
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