TFG Financial Corporation, formerly known as Travelers Financial Corporation (TFC), was founded in 1986. As part of changing our name, we have a more intense focus on our “Asset-Based Leasing” activities, to serve customers that have equipment financing needs outside the conventional approach taken by the big banks and leasing companies.
TFG’s new name is a result of an announcement in May of 2014, that the assets of the prime equipment and vehicle finance business of TFC would become part of the Coast Capital Group of Companies. We did not include our Asset-Based Leasing (ABL) activities in the Coast transaction, but instead, we make our ABL product available to Coast Capital through an arrangement that allows them to offer it to their customers. TFG also offers its ABL product to other financial institutions, the equipment broker network in Canada, and select equipment dealers.
TFG Financial can trace its roots from a humble start to becoming the cornerstone of the family of companies comprising the Travelers Financial Group. It started with Travelers Financial Corporation (TFC) and the 28-year build-out of a national equipment leasing and financing business, which has now been merged into Coast Capital. Along the way, Travelers Leasing Corporation built a national presence in the automobile leasing & financing sector and was acquired by the Bank of Nova Scotia in 2007. From its start in 1993, Travelers Acceptance Corporation built a Canada-wide consumer financing business and was acquired by its joint venture partner Servus Credit Union in 2011. More recently, Travelers Capital Corporation was formed to provide non-bank commercial financing to small to mid-market Canadian businesses, and in the US we provide the same financing product through affiliate TCC Financial Inc.
Today, after building and divesting several businesses, TFG Financial has its sights on becoming the leading provider of alternative equipment financing in Canada. Our ABL product serves a growing customer segment comprised of early-stage businesses, companies that are growing faster than might be comfortable for other lenders, and businesses that have had uneven performance and don’t meet Bank requirements. We make it very easy to do business with us, with a combination of old-fashioned common sense and a leading-edge technology platform provided by Inovatec.