CashNews.co
German financing partner for small and medium-sized enterprises (SMEs) Grenke has opened its second US location in Chicago, Illinois.
This expansion is set to cater to the Central, North, and Southeast regions of the US, complementing the company’s existing presence in Phoenix, Arizona.
For the current year, Grenke aims to generate new business within the mid-single-digit million Euro range.
Grenke’s CEO has expressed optimism about the growth potential in the US, predicting rates well above average for the next decade.
Grenke CEO Dr Sebastian Hirsch said: “There is an enormous potential in the US market, featuring over 30 million small and medium-sized companies, which is greater than the number in all of Europe.
“Through our specialized small-ticket offers, we are now taking the next step to tap into a market niche worth several billion US dollars per year.
“We therefore expect the US to be a key driver of our long-term sustainable organic growth and to become one of our most important core markets.”
Specialising in small-ticket leasing, Grenke offers financing solutions covering a diverse range of assets, including IT infrastructure and medical equipment.
Grenke has noted a surge in demand for products supporting the green economy, such as eBikes and charging stations.
Currently, Grenke serves around 670,000 customers across 31 countries, with a total portfolio exceeding one million lease contracts and an object volume of €9.4bn.
The company boasts partnerships with over 36,000 resellers worldwide.
Grenke Phoenix location managing director Thomas Sauerteig said: “The ongoing investment needs of SMEs – especially in areas like digitalisation and the green economy – present significant growth opportunities for leasing offers in the rapidly expanding US economy.
“We provide US-based specialist resellers attractive financing models that allow their customers to realise investments quickly and easily.”
“German financing partner Grenke expands operations in US” was originally created and published by Leasing Life, a GlobalData owned brand.
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