Plano-based Centra Funding has acquired LeaseQ and its restaurant and franchise team, together with its associated LeaseQ equipment finance platform, from TimePayment Corp. and will now be known as the Centra Culinary Finance brand.
“We’re delighted to welcome the LeaseQ restaurant and franchise team to the Centra family,” Centra President John Boettigheimer said in a statement. “Their expertise and dedication to excellence align with our values, and we look forward to Centra Culinary Finance expanding the industry-leading financing solutions we offer to small and medium-sized foodservice businesses. We’re also pleased to be able to adapt the LeaseQ platform to transform our offerings across the many other industries Centra serves.”
Terms of the acquisition were not disclosed.
Centra is a nationwide independent equipment finance company and a subsidiary of CV Holdings. It said that it will continue to partner with TimePayment to provide instant approvals for microticket restaurant and franchise transactions. Centra said its new strategic initiative underscores its commitment to the foodservice industry and its dedication to providing unparalleled financing solutions and support.
Under the new brand, LeaseQ’s existing team, headed by Sandra VanBuren and Kim Lorang, will continue to deliver “top-notch customer service, foster strong partnerships, and champion the growth and success of the foodservice industry” using the LeaseQ platform, Centra said.
Financing tailored to the foodservice industry
Founded in 2011, LeaseQ is an online marketplace which serves businesses who can apply directly for equipment financing, equipment dealers seeking an integrated financing solution at the point of sale, and finance companies seeking applications tailored to their funding requirements.
Centra said that partners and customers can expect a seamless transition, with the same level of service and commitment they have come to rely on from LeaseQ’s Restaurant and Franchise Team. Also, Centra said the team and platform will enable it to deliver improved offerings to the foodservice and other industries.
“We’re excited about the support and resources we’ll benefit from at Centra,” Centra Culinary Head VanBuren said in a statement. “We’ve already begun developing exciting new Centra programs tailored for the foodservice industry, and Centra’s competitive rates will make it even easier for us to get customers fast approvals that align with their budgets. With Centra’s backing, we look forward to enhancing our services and being able to better serve our partners and customers.
Lorang said that despite the brand name change, her company’s mission remains intact.
“We want to assure our partners and customers that while our name may have changed, our commitment to quality service, transparency, and support remains the same,” Lorang, director of Business Development and Operations, said. “We’re excited about this new chapter as Centra Culinary Finance and look forward to continuing to serve and support the foodservice industry.”
Founded in 2006 by Boettinger, Centra Funding has offices across the U.S.
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