TEQlease Capital 2014 lease origination reached new levels as we experienced a 23% increase in revenue for the full year ended December 31, 2014. As the US economy has steadily improved throughout 2014, so has the willingness of TEQlease Capital customers to commit to new capital expenditures and lease acquisitions.
TEQlease Capital also saw significant increases in the number of its total customers, with notable increases in the education, commercial and hospitality segments. In addition: Capital leases continued to constitute the majority of leases written, with 68% of total leases, and direct finance leases comprising the remainder at 33%; technology equipment was the largest segment of equipment types, with 46% of total lease origination, due principally to TEQlease Capital’s Apple funding partner program, followed by manufacturing equipment and then fitness equipment; 81% of leases were financed by bank lender and commercial finance company partners, with 19% retained by the company; delinquency remained below 1% of leases originated; and, 6 net additional employees joined the TEQlease Capital team. We look forward to an exciting 2015 as well for TEQlease Capital and all of our customers.