Alliance Financing Group Inc.
(Alliance) was formed on January 31, 2000 to formally combine the leasing and
financing business units of Alliance Acceptance Corporation (founded in 1989)
and Asset Acquisition Services Inc. (founded in 1991); both of whom operated
under the trade name and style "Alliance Capital Leasing". On May 26, 2000
Alliance went public by completed an amalgamation with a venture capital
company, which was a reporting issuer under the laws of the provinces of
Ontario and Alberta.
The resulting public company
continues under the name Alliance Financing Group Inc. and is controlled by the
original founders. The common shares trade on the TSX Venture stock exchange
under the symbol "AFG".
Throughout its early years
Alliance originally specialized in providing asset-based financing (primarily
through leasing) for small to mid-ticket equipment acquisitions. By the late
'90s Alliance had become one of Canada's most well-respected and successful
lease originators, working both with vendors and end-users. Alliance's
reputation was based on competitive rates, excellent service and an outstanding
credit approval ratio.
In 1998 Alliance began marketing
into the USA and in 1999, with the launch of its Internet initiative,
www.yourfinancesource.com, Alliance began developing a truly global
presence.
In February of 2000, Alliance
announced the development and implementation of its on-line e-finance
initiative. This suite of tools allows online Asset Vendors, Internet Verticals
and Internet Portals, to offer Alliance's financing services to their B2B
customers over the Internet. Alliance's Internet offering can be customized as
a private label or co-brand and can be configured and implemented within days.
Throughout 2000 and 2001,
Alliance began adding additional products and services to its core offering of
asset-based financing. This has allowed Alliance to become a more diversified
financial institution, catering to the multiple needs of small-mid size
businesses.
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