GreatAmerica Financial Services Company Profile

Background

Founded in 1992 and headquartered in Cedar Rapids, Iowa, GreatAmerica Financial Services Corporation is a prominent national commercial equipment finance company. The company's mission is to help customers achieve greater success, with a vision to become a business without competition. GreatAmerica distinguishes itself through a team-based, independent, family-owned structure that emphasizes deep loyalty with channel partners, prioritizing relationships and service over a commodity-based approach.

Key Strategic Focus

GreatAmerica's strategic focus centers on providing tailored financial solutions to businesses across various sectors, including office technology, communications, healthcare, construction, and transportation. The company offers flexible financing options such as custom billing, usage programs, and As-A-Service models to meet the unique needs of its clients. By organizing its technology and operations teams into agile product teams aligned with customer touchpoints, GreatAmerica fosters continuous innovation and responsiveness to market dynamics.

Financials and Funding

As of 2022, GreatAmerica reported assets exceeding $2.6 billion and revenue of $278 million. The company has experienced consistent growth since its inception, surpassing the $1 billion mark in assets in 2009 and reaching $2 billion in 2017. In 2022, GreatAmerica expanded its franchise financing business by acquiring Illinois-based IRH Capital LLC, a 20-year veteran in the franchise financing industry.

Technological Platform and Innovation

GreatAmerica leverages a robust technological platform to deliver innovative financial solutions. The company has embraced agile methodologies, organizing its technology and operations teams into agile product teams aligned with customer touchpoints. This approach enables continuous innovation and responsiveness to market dynamics. GreatAmerica offers cutting-edge technology solutions, including quoting and application tools, detailed end-of-term reporting, and integrations to simplify workflows and improve efficiency.

Leadership Team

GreatAmerica's leadership team comprises experienced professionals dedicated to the company's mission and vision:

Tony Golobic: Founder and Executive Chairman, with extensive experience in equipment financing since 1971.

Martin Golobic: Chief Executive Officer, leading the company's strategic direction and growth initiatives.

Stan Herkelman: President, overseeing strategic, financial, and operational decisions.

David Pohlman: Executive Vice President & Chief Operating Officer, responsible for sales, marketing, operations, and strategic planning.

Joe Terfler: Chief Financial Officer, managing the company's financial operations.

Jennie Fisher: Group President, Office Technology, leading the office technology division.

Leighton Smith: Chief Strategy Officer, guiding the company's strategic initiatives.

Brian Bjella: Chief Revenue Officer, overseeing revenue generation strategies.

Lisa Lefebure: Chief Human Resources Officer, managing human resources and organizational development.

Michelle Halverson: Senior Vice President, Chief Legal Officer, General Counsel, and Corporate Secretary, overseeing legal affairs.

Jared Hanlin: Senior Vice President, Chief Risk Officer, managing risk assessment and mitigation.

Stephanie Severin: Senior Vice President, Chief Credit Officer, overseeing credit operations.

Cindy Bradley: Senior Vice President, Chief Data Officer, managing data strategy and governance.

Jay Allpress: Chief Information Security Officer, responsible for information security.

Scott Geistkemper: Senior Vice President, Operations, overseeing operational processes.

Wil Meggers: Senior Vice President, Platform Services, managing platform services.

Joe Andries: Vice President and General Manager, GreatAmerica Portfolio Services Group LLC, leading portfolio services.

Mitch Leahy: Vice President and General Manager, Office Equipment Group, overseeing the office equipment division.

Jonathan Fales: Vice President and General Manager, Connected Technology Group, leading the connected technology division.

Steve Rybos: Vice President and General Manager, Specialty Markets Group, managing specialty markets.

Heather Friedman: Vice President, Corporate Marketing & Communications, overseeing marketing and communications.

Tawnya Stone: Vice President, Strategic Technology, guiding strategic technology initiatives.

Lindsay Bohon: Vice President, Corporate Sales Operations, managing sales operations.

Keith Rabin: Vice President and Managing Director, Franchise Division, leading the franchise division.

Lee Rozeboom: Vice President and Managing Director, Sales, Connected Technology Group, overseeing sales in the connected technology division.

Bill Johnson: Vice President, Sales and Marketing, Construction Division, managing sales and marketing in the construction division.

Anthony Piper: Vice President, Sales and Marketing, Automotive Division, overseeing sales and marketing in the automotive division.

Larry Feldstein: Vice President, Sales and Marketing, Healthcare Division, leading sales and marketing in the healthcare division.

Key Kain: Vice President and Managing Director, Sales, Office Equipment Group, managing sales in the office equipment division.

Derek Meier: Vice President, Sales, Office Equipment Group, overseeing sales in the office equipment division.

Hannah O'Donnell: Vice President, Sales, Office Equipment Group, managing sales in the office equipment division.

Stacey Miller: Vice President, Sales, Office Equipment Group, overseeing sales in the office equipment division.

Alisha Martinson: Vice President, Sales, Office Equipment Group, managing sales in the office equipment division.

Cody Jandik: Vice President, Sales, Connected Technology Group, overseeing sales in the connected technology division.

Nick Nielsen: Vice President, Sales, Connected Technology Group, managing sales in the connected technology division.

Diane Vanis: Vice President, Human Resources, overseeing human resources operations.

Renae Kinney: Controller, managing financial reporting and compliance.

Zach Paulson: Vice President and Treasurer, overseeing treasury operations.

Leadership Changes

In recent years, GreatAmerica has implemented succession planning to position the next generation of leaders alongside current leadership. Notably, Martin Golobic has been named Co-CEO alongside Stan Herkelman, reflecting the company's commitment to long-term success and leadership development.

Competitor Profile

Market Insights and Dynamics

The commercial equipment finance industry is characterized by a competitive landscape with numerous players offering a range of financing solutions. The market has experienced growth driven by businesses seeking flexible financing options to acquire essential equipment and technology. Key trends include the adoption of As-A-Service models, usage-based billing, and digital transformation initiatives to enhance customer experience and operational efficiency.

Competitor Analysis

GreatAmerica's primary competitors include both large financial institutions and specialized equipment finance companies. These competitors offer similar financing solutions, often leveraging extensive resources and established customer bases. However, GreatAmerica differentiates itself through its family-owned structure, customer-centric approach, and commitment to innovation. The company's focus on building enduring relationships and delivering tailored solutions positions it favorably in the competitive landscape.

Strategic Collaborations and Partnerships

GreatAmerica has established significant collaborations and partnerships to strengthen its market position and expand capabilities. The acquisition of IRH Capital LLC in 2022 expanded the company's presence in the franchise financing sector. Additionally, the sale of its Master Managed Services Provider subsidiary, Collabrance LLC, to The 20 in August 2024, allowed GreatAmerica to focus on its core financial services while ensuring continuity for Collabrance's employees and clients.

Operational Insights

GreatAmerica's operational strategy emphasizes agility, customer focus, and continuous improvement. The company has organized its technology and operations teams into agile product teams aligned with customer touchpoints, enabling responsiveness to market dynamics and customer needs. This approach, combined with a strong company culture and commitment to innovation, provides distinct competitive advantages in the equipment finance industry.