AFG

What AFG does

Alliance Funding Group (AFG) is a privately held, minority-owned non-bank equipment finance and working capital lender founded in 1998 and headquartered in Tustin, California. The company provides direct equipment leasing and financing solutions to small, medium, and enterprise-sized businesses across the United States, with a portfolio spanning 11+ industry verticals including agriculture, construction, healthcare, transportation, manufacturing, federal and state/local government, and franchise. Core product tiers are Application Only (up to $500K), Middle Market/Commercial (up to $5MM+), and Large Ticket (up to $50MM with risk-based pricing), complemented by an unsecured Working Capital product (up to $2MM) and specialized Federal Financing and Municipal Lease offerings.

AFG's underlying platform combines digital application intake with human underwriting, enabling credit decisions within 24-48 hours and working capital funding within 24 hours for qualified applicants. The company operates a multi-channel distribution model comprising direct field sales for enterprise deals, a Vendor Finance Services division for point-of-sale integration with manufacturers and dealers, a Broker Program for non-competing lenders, and a Bank Program for private-label financing partnerships. AFG has financed over $3B in cumulative equipment leases and loans to 26,000+ customers and manages approximately $800MM in assets, with a BBB rating on its corporate notes.

Revenue is generated primarily through interest income, origination fees, and structured deal economics on equipment leases, working capital loans, and vendor finance arrangements. Strategic priorities visible in recent activity include geographic diversification (offices in CA, NH, TX, WA), division build-out (Mid-Market Leasing in 2023, Vendor Finance Services in 2026), selective acquisitions (Pinnacle Capital Partners in 2019), and a strategic minority investment in Casca's AI-native loan origination platform to potentially modernize origination.

Name

AFG

Legal name

Alliance Funding Group

Website

https://afg.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

101–250 employees

Short description

Alliance Funding Group (AFG) is a privately held, non-bank equipment finance and working capital lender founded in 1998, serving small, medium, and enterprise U.S. businesses across 11+ industries with leases up to $50MM and working capital loans up to $2MM, distributed via direct, vendor, broker, and bank channels.

Ownership category

akta.pro rank

Product category

Equipment Finance & Commercial Lending

NAICS

Portfolio Management and Investment Advice (523940), Other Investment Pools and Funds (5259)

SIC

Short-Term Business Credit Institutions (6153), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Asset-Based Lending (ABL) (FSANADAD)

akta.pro secondary industry

Sustainable Private Markets (Impact PE/VC, Private Credit, Infrastructure) (FSAAALAG)

Keywords

• Equipment leasing
• Working capital loans
• Commercial equipment financing
• Vendor financing programs
• Small business lending

Headquarters

HQ city

Tustin

HQ country

United States

HQ region

North America

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Equipment Leasing and Financing: Core revenue stream from equipment leases and loans to small, medium, and enterprise businesses. Transactions range from $500,000 to $50MM with terms from 12 to 96 months. Revenue generated through interest income and origination fees on leases and loans.
2. Working Capital Loans: Short-term unsecured working capital loans up to $2MM with 3 to 18 month terms. Revenue generated through interest charges and fixed fees on short-term financing.
3. Vendor Finance Services: Programs integrated at point of sale for manufacturers, dealers, and distributors. Revenue generated through financing arrangements with vendor partners and their customers.
4. Corporate Notes: Debt financing through corporate notes issuance. AFG secured $39MM in upsized corporate notes to fund working capital and growth. BBB-rated issuance demonstrates financial stability.

Pricing tiers

Go-to-market motion3 records

Distribution channels5 records

Marketing channels5 records

Core offering

AFG (Alliance Funding Group) is a non-bank direct lender providing equipment leasing, equipment financing, and working capital solutions to small, medium, and enterprise-sized businesses across the United States. Core offerings span four tiers: Application Only (up to $500K), Middle Market/Commercial (up to $5MM+), Large Ticket (up to $50MM), and Working Capital (up to $2MM), complemented by Vendor Finance, Broker, and Bank partnership programs.

Product overview

Alliance Funding Group (AFG) is a privately held equipment finance and working capital platform established in 1998, headquartered in Tustin, California. The company operates a multi-tier product architecture spanning three core financing tiers: Application Only (transactions up to $500K), Middle Market/Commercial (up to $5MM+), and Large Ticket (up to $50MM). These are complemented by Working Capital solutions (up to $2MM unsecured), a Vendor Finance Services division, and specialized programs for municipal, federal, and hospitality sectors. AFG also offers partnership programs including Vendor & Dealer Financing, Bank Program, and Broker Program. The company recently invested in Casca's AI loan origination platform and launched a new Vendor Finance Services division in May 2026.

Differentiator

Problem solved

Functional benefit

Products and services

• Application Only Equipment Financing Streamlined equipment financing for small transactions up to $500,000 with a one-page application and 12 to 84 month terms, targeted at small businesses needing quick equipment financing.
• Middle Market / Commercial Equipment Financing Commercial equipment financing up to $5MM+ with 100% financing including soft costs, and 24 to 96 month terms, targeted at mid-sized businesses.
• Large Ticket Equipment Financing Large-scale equipment financing up to $50MM with highly customized structures and risk-based pricing, targeted at enterprise organizations.
• Working Capital Loans Short-term working capital loans up to $2MM with no pre-payment penalties and 3 to 18 month terms, providing businesses with flexible cash flow solutions.
• Vendor Finance Services (VFS) Division Newly established division providing comprehensive financing solutions for manufacturers, dealers, and distributors with programs integrated directly at point of sale, supporting competitive pricing for top tier credits, structured financing for complex transactions, and flexible underwriting across broad credit spectrum.
• Bank Program (Private-Label Financing) Strategic private-label financing program allowing banks to access AFG's full finance suite for their customers, driving new income streams for partner banks.
• Broker Program Partnership program for non-competing lenders and brokers to expand their reach by leveraging AFG's platform to close more equipment financing deals.
• Municipal Lease Financing Tax-exempt lease purchase financing for government entities including states, counties, cities, fire/police departments, school districts, and hospitals.
• Federal Financing Equipment financing solutions for federal government agencies and prime contractors, including managed service arrangements for military installations.
• Supply Chain Finance Solutions Working capital solutions integrated with supply chain finance to optimize payment terms and cash flow across supply chains.

Quantifiable outcome

• 26,000+ customers served with over $3B in financing
• +2 more outcomes

Named customers3 records

Segments7 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

One partnership is on record.

• Prime Contractor (Federal Financing)coreStrategic or Co-development PartnerAFG partnered with an industry-leading prime contractor and AFG's investor to complete an approximate $4.8 million federal financing transaction for a major U.S.-based military installation.

Scale indicators9 records

Recent moves10 records

Expansion highlights6 records

Direct peers

• Balboa Capital: Balboa Capital is a direct equipment finance competitor, providing equipment leasing, vendor financing, and working capital to SMBs across the U.S. with overlapping customer base and product tiers very similar to AFG.
• GreatAmerica Financial Services: GreatAmerica is one of the largest independent equipment finance vendors in the U.S., specializing in vendor and dealer financing programs at point of sale—directly overlapping with AFG's Vendor Finance Services and vendor program offerings.
• Taycor Financial: Taycor Financial is a privately held equipment financing company providing lease and loan products to SMBs across multiple industries—a direct comparable to AFG's Application Only, Middle Market, and Working Capital products.
• Crest Capital: Crest Capital provides equipment financing and leasing to small and mid-sized U.S. businesses across many of the same verticals AFG serves (construction, transportation, healthcare), with similar transaction size range.
• Direct Capital Corporation: Direct Capital is an equipment financing and working capital provider to SMBs with a vendor financing program and broker network, closely mirroring AFG's multi-channel product architecture.
• Marlin Business Services (Huntington Equipment Finance): Marlin Business Services, now part of Huntington Bancshares, was a direct equipment finance peer serving SMBs across multiple verticals with similar product breadth; it remains a relevant benchmark for AFG's product architecture and SMB focus.

Broad incumbents

• DLL Group: DLL is a global vendor finance provider owned by Rabobank, serving equipment manufacturers, dealers, and end customers across multiple asset classes. Comparable to AFG's middle-market and vendor finance segments at significantly larger scale.
• Wells Fargo Equipment Finance: Wells Fargo's equipment finance division serves middle-market and large-ticket commercial equipment financing needs, overlapping with AFG's Large Ticket and Middle Market tiers but at materially greater scale and with lower funding cost.
• Caterpillar Financial Services: Cat Financial is the captive finance arm of Caterpillar, providing equipment financing to construction and industrial customers—a relevant incumbent comparable to AFG's construction and large-ticket segments but with structural cost-of-capital advantage.

Emerging players

• Currency (formerly Currency Capital): Currency is a digital-native equipment financing marketplace connecting SMB borrowers with lenders. Comparable in target customer (SMB equipment financing) but differentiates via marketplace model rather than direct lending like AFG.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/alliancefunding
• Facebookfacebook.com/AllianceFundingGroup
• LinkedInlinkedin.com/company/alliancefundinggroup
• Instagraminstagram.com/alliancefundinggroup

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about AFG