Northpoint Commercial Finance Expands Agriculture and Construction Resources
By Gabriel Ethier and Todd Pye, VPs Business Development
As Northpoint continues to grow its agriculture and construction portfolios in North America through new and existing OEM and dealer relationships, we have likewise expanded our management resources and team to better support customer needs and to facilitate growth.
We are both laser-focused in our efforts in building long-term relationships with OEMS and dealer partners to secure a cohesive and supportive North American network. Gabriel manages efforts in Canada, while Todd is focused on U.S. business. Both bring extensive backgrounds in business development, strategic planning and risk management to benefit and help support our customers.
We are also very pleased to announce the addition of both Ryan Horvath in Canada and Tyson Hopkins in the US as Directors of Business Development. Their impressive backgrounds are spotlighted elsewhere in this newsletter (see PROGRESSIONS). We are especially pleased to welcome them to our team; both are already well underway in onboarding dealers in their respective territories.
In Other News … LBC Capital Rebranded to Northpoint Commercial Finance: Positive Impacts in the Agriculture and Construction Industries in Canada!
You may be aware that on November 1, 2024, LBC Capital officially rebranded to Northpoint Commercial Finance. The rebranding optimized Northpoint’s end-to-end platform to better serve the equipment industries, from manufacturers and dealers to end-users specifically in the agriculture and construction industries throughout Canada.
This merger of brands was Laurentian Bank’s strategy to streamline operations and enhance its market presence across North America. The unified brand aims to provide stronger positioning, new cross-sale opportunities, and optimized services for the equipment finance industry and is expected to generate greater assets and revenue growth. The move also aligns with Laurentian Bank’s overall business strategy and simplification roadmap, aiming to deepen relationships and create new ones with partners and customers across North America.
The “Inventory Finance” and “Equipment Finance” teams are actively collaborating on go-to-market strategies involving a global offering for OEMs and dealers in the agriculture, construction, and transportation industries in Canada.
Northpoint’s Unique Business Approach: ONE TEAM …
Northpoint Commercial Finance’s approach is to act and serve as ONE TEAM in North America. Our strong customer-centric approach embraces key strategies including personalized solutions, exceptional customer service, regular feedback collection, collaborative partnerships and transparent communication. Our commitment is to be more than just a finance provider; we are dedicated partners in our clients’ success!
By collaborating more closely with our customers, our goal is to help our valued clients achieve greater success in their markets … as well as in meeting their long-term objectives and profitability goals.
General Economic Update
Many customers ask for our opinions on the economy and its impact on the industries we serve.
From our perspective, the Agricultural Equipment Market faces a complex and uncertain path forward, with recovery hinging on several key factors including commodity prices, weather patterns, interest rates and broader economic conditions. While the current downturn is challenging, some analysts remain cautiously optimistic despite the headwinds: declining net farm income, rising interest rates and a greater economic downturn. Still … there IS reason for hope and brighter days ahead: the resilience of the agricultural sector, combined with the increased demand for food production, rising farm incomes and government initiatives to support agriculture.
From the Construction Equipment Market, 2025 is expected to see a mixed outlook with some segments experiencing growth while others face challenges. Overall, the market is expected to remain relatively flat with a slight recovery anticipated in 2025. Demand for construction equipment is influenced by factors like infrastructure spending, material and labor costs, and housing starts.
Moving Forward …
Please let us know how we can best support YOUR efforts. Our team at Northpoint looks forward to working closely with you and helping to provide customized solutions to support your business in the days, months and years ahead!
