Largest independent finance firm in the U.S. taps Solifi Open Finance Platform for its fast-growing equipment finance portfolio
Solifi (formerly IDS), a leading provider of asset finance and origination technology announced today that Stonebriar Commercial Finance (SCF) is now live on the Solifi Open Finance Platform (formerly IDSCloud) supporting its growing portfolio which currently stands at over $2.7 billion in net asset value. IDScloud provides the Software-as-a-Service (SaaS) foundation for portfolio management with JDR Solutions providing additional support with business process outsourcing (BPO).
“Moving our portfolio management to the cloud was a critical step to keep up with our growth and our overall ability to get the most out of our systems,” stated Steve Siler, Stonebriar CTO. “We selected IDScloud based on its ability to scale with our business and integrate with other ecosystem applications like Salesforce.com. This provides us with a broader view into our business delivering data and analytics needed to make strategic business decisions.”
Based in Plano, TX, SCF is a privately held commercial finance company established in 2015 by industry veterans. SCF is one of the fastest growing independent equipment financing firms in the U.S. recently being ranked 37th by volume in the Monitor 100. With deep expertise in equipment finance, SCF provides solutions tailored to meet their customers unique needs both in structure and term.
“Stonebriar’s team with deep expertise in asset finance and their ongoing push to deliver innovative leasing solutions makes them a perfect fit for IDScloud,” stated David Hamilton, Solifi CEO. “With the dynamic growth, we are excited to support their need for scale and flexibility. As a fully managed service, Stonebriar leaves the application management to Solifi letting them focus on growing their business.”
“We chose to move to IDScloud as part of our ongoing growth strategy,” stated Tim Milazzo Stonebriar CFO. “The Solifi and JDR teams were able to guide the migration process to “lift and shift” from our previous instance of InfoLease with minimal impact to business operations. Additionally, IDScloud provided us with the opportunity to pull forward our timing to update our portfolio management platform.”
SCF has partnered with JDR Solutions, an Indianapolis firm specializing in portfolio management and other back office services for the equipment leasing industry. JDR will provide full back office service for SCF’s complete portfolio leveraging IDScloud.
“JDR has been working with the team at Stonebriar since inception and we’re happy to continue servicing their portfolio through the IDScloud,” stated Doug Williams, JDR President. “Providing portfolio management for Stonebriar through IDScloud fits within our company’s business model of servicing clients regardless the software platform they choose.”
IDScloud is based on the same business logic and flexibility found in the industry leading InfoLease® portfolio management solution. With IDScloud, this powerful back-office asset management platform is available to lessors of all sizes in an easy-to-consume, pay for what you use, cloud-based SaaS offering.
Stonebriar, an Eldridge Industries’ business based in Plano, TX, is a leading provider of financing solutions for businesses in a wide variety of industries, of various sizes and credit profiles. Stonebriar leases and finances assets located primarily in North America and select other jurisdictions worldwide currently through 5 distinct platforms—General Equipment, Aviation Capital, Rail Leasing, Real Estate and Sponsor Finance. To learn more about Stonebriar Commercial Finance please visit www.StonebriarCF.com.
About Eldridge Industries
Eldridge Industries grows diversified businesses with a focus on Credit; Insurance and Insurance Administration; Real Estate; Sports and Media; Convenient Food; and Technology. In particular, the firm seeks to build and grow businesses led by proven management teams that have demonstrated leadership and experience to scale an enterprise. Eldridge is headquartered in Greenwich, Connecticut, with additional offices in Beverly Hills, New York, and London. To learn more about Eldridge please visit www.eldridge.com.