2020 not only marks the start of a new decade, but the 60th year of business for Credential Leasing and Finance. Credential, founded by Morris Schwab, has been servicing businesses throughout the United States with equipment that is both excellent and affordable.
Credential Leasing & Finance, which has expanded into two offices located in Harrisburg, Pennsylvania and Dandridge, Tennessee, had humble beginnings. Most of their early business came from the recommendations of friends and neighbors. Eventually, word of mouth paid off and they received a bid from the State of Pennsylvania. This bid launched them into the successful equipment leasing and finance company they are today.
Mike Pavlishin, Vice President of the company says, “There have been a lot of changes to the industry as well as to Credential Leasing. When I started, I only handled the ice maker rental program and the equipment financing was done on a handshake because of how well-respected Morris Schwab was in the financial industry… Now we finance any equipment associated with any business across the country and have gained a niche in the trucking industry.”
Over the past years, Credential has made a name for itself, specializing in construction, transportation, office/computer, industrial, restaurant, and medical equipment. While the list of industries they service is long, Credential takes a customized approach to each business who calls for their service. As a result, they’ve seen steady growth over the past decade.
Credential was founded on strong values of hard work, loyalty, and service. Morris Schwab, was known amongst his employees as someone who was not only kind but trustworthy. He wanted Credential employees to treat customers and vendors with the same respect that they would want to be treated with. Today, his son, Andy Schwab, President and CEO of Credential, holds that simple yet powerful value close. As a result, many of his employees have been with the organization for decades. Looking back through the years, he marvels at how far they have come.
“Wow! 60 years! I remember when we sat around a dining table plotting strategy of how to help business owners finance the equipment they needed. We were operating out of a single office in Harrisburg and doing business in 6 counties in Central Pennsylvania… [now] we do business in 46 states and have multiple locations. We started as a family business and now operate as an ESOP where the employees are the owners… I don’t think there is any privately held company in the equipment financing business with that kind of history,” says Andy.
As the oldest privately owned equipment leasing company in the United States, Credential looks ahead to see what mark they can make in the years to come. Although they’re celebrating their 60th anniversary, they are excited to continue paving the way to make another 60 years of excellence and service possible.