This reputable lender has been in business for over 30 years, delivering equipment financing solutions for brokers and independent leasing companies across most industries.
Services Offered (Equipment Financing):
Bryn Mawr Funding offers equipment financing agreements (EFA) and leases for third-party originators nationwide.
Unlike many lenders in the equipment financing sector, Bryn Mawr Funding serves most industries and sectors with very few exclusions. Other lenders have far more prohibited assets and industries, making Bryn Mawr Funding a good choice for borrowers serving more volatile businesses.
Bryn Mawr Funding has more stringent qualification requirements than many similar lenders in equipment financing.
For medical industry equipment financing, this lender has the following criteria:
Tier 1: MD, "Ologists", Surgeon, OB/GYN.
Tier 2: Dentist, Podiatrist, Urgent Care, Veterinarian.
For non-medical/general industries, Bryn Mawr Funding requires the following for financing approval:
Compared to many lenders working in the equipment financing sector, Bryn Mawr Funding excludes very few industries. While certain sectors are regarded as too volatile and must seek financing from other lenders, most industries will qualify for financing. The excluded industries are:
Terms & Fees:
Borrowers applying for equipment financing from Bryn Mawr Funding will pay a $225 document fee. Additional charges may apply, for example if a site inspection is required.
Bryn Mawr Funding offers lower funding amounts than other lenders, with financing available from $10, 000 - $250, 000.
Borrowers will be able to set the loan term length within the range of 24-66 months.
Interest rates on equipment financing from Bryn Mawr Funding range from 6-8%. This amount fluctuates depending on market conditions.
In order to access financing, borrowers will be required to offer 1 or 2 advance payments on the loan.
Bryn Mawr Funding delivers an easy, fast application process via an online form and broker agreement. In addition to the signed and completed application, applicants will need to provide 3 months of bank statements and a written statement about funding needs, including the impact of Covid-19 to the business.
Approval for financing is contingent on confirming submitted information, including:
Sales & Advertising Transparency:
Bryn Mawr Trust is a well established commercial banking and lending institution with a transparent and comprehensive online presence. All lending products and terms are clearly outlined and described on the company’s website, including information about equipment financing for third party brokers or leasing agents. With over 30 years in business, Bryn Mawr is a trustworthy choice for financing solutions.
Customer Service & Technical Support:
Bryn Mawr Trust, or BMT, is the parent company of Bryn Mawr Funding. As a well established banking and lending institution, customers will benefit from a nationwide footprint with over 40 locations and accessible customer service options.
Customer Call Center
Mon- Fri 7:30 a.m. – 8 p.m.
Saturday 9 a.m. – 2 p.m.
Sunday 11 a.m. – 2 p.m
Customers can also access an online email form to submit questions or concerns 24/7. The customer service team is quick and responsive.
With multiple branches nationwide, Bryn Mawr receives mixed reviews online. Plus, since the lender offers a wide range of commercial banking services, understanding what branch and sector the reviews are for is vital to determining whether to choose this lender. Some negative reviews discuss the complexity of accessing equipment financing with Bryn Mawr, but generally reviews are positive.
Bryn Mawr is not accredited by the Better Business Bureau but has an A- rating on the platform.
For equipment financing brokers and independent leasing companies, Bryn Mawr Funding is a reputable lender with an easy application process. This lender has stricter requirements and lower finding amounts than many other lenders in this sector, but prohibits fewer assets and industries. Depending on the business sector and amount of funding required, Bryn Mawr Funding is a good and reputable financing option.