Press Release

Crossroads Equipment Lease and Finance is pleased to announce and welcome Mike Cohen as its new Chief Risk Officer, effective immediately. Mike has over 30 years’ experience in equipment finance, including risk and leadership roles with some of the biggest lenders in the industry.

Crossroads Equipment Lease and Finance is an industry leader in programs designed to replace older on road commercial equipment with cleaner, lower emissions vehicles. For Earth Day this year, Freightliner’s new eCascadia made an appearance at our headquarters in Rancho Cucamonga for a preview of the zero emissions future of commercial transportation.

Velocity Vehicle Group (VVG) is pleased to announce that the company has acquired Great West Truck Center in Kingman, Arizona. This will extend VVG’s reach to the intersection of interstates 40 and 93, positioned midway between VVG’s other locations in Flagstaff, Hesperia and Las Vegas, giving seamless service to VVG’s customers in the Southwest.

Velocity Truck Centers (VTC), the leading group of commercial vehicle dealerships in the Southwest, is pleased to announce that the company has expanded into the Southeast with the acquisition of Neely Coble Company, Inc. This acquisition extends VTC’s reach from California, Arizona, Hawaii and Nevada into central Tennessee, northern Alabama and southern Kentucky. Neely Coble’s primary locations sell and service the Freightliner, Western Star and Isuzu brands from locations in the Nashville, TN, Huntsville/Decatur AL, and Bowling Green KY metropolitan areas.

Crossroads Equipment Lease and Finance, LLC recently priced its US$163MM ABS debut backed by commercial truck loans to solid demand, reducing its cost of borrowing and enabling expanded funding options. Crossroads closed the equipment securitization on February 3, 2021 through Crossroads Asset Trust 2021-A.

Crossroads Equipment Lease and Finance is excited to announce the addition of commercial trucking insurance to its offering. Crossroads will offer its customers an array of coverage options including: Commercial Auto Liability, Commercial Physical Damage, Cargo, and Non-Trucking Liability.

Crossroads Equipment Lease and Finance is pleased to announce and welcome Michael Jones as its new Chief Financial Officer.

LTi Technology Solutions partnered with Crossroads Equipment Lease and Finance to implement the ASPIRE platform to support its business. Crossroads is improving commercial truck finance by leveraging technology to create a frictionless customer experience. By utilizing ASPIRE in the LTiCloud, Crossroads will benefit from a solution that can scale with the expected growth of their business.

Velocity Truck Centers (VTC), the leading group of commercial vehicle dealerships in the Southwest, is pleased to announce that the company has acquired Central California Truck and Trailer Sales, Inc. (CCTTS), the leading independent used-truck and new/used trailer retailer in California. Warren Auwae, CCTTS’s founder, has joined VTC and will be responsible for the combined trailer and used truck operations of CCTTS and VTC.

According to the California Air Resources Board (CARB), there are more than 400,000 Heavy Duty diesel vehicles based in California who obtain registration from the California DMV.