PR Announcment

Enterprise Funding Group Adds John P. Groves as Vice President-Credit

July 9, 2007--(Grand Rapids, MI) Enterprise Funding Group LLC has announced the addition of John P. Groves as Vice President -- Credit. In the newly created position, John will oversee the credit and funding operations of the growing equipment finance company.

Mr. Groves brings extensive industry experience to Enterprise, including 20 years at The CIT Group. More recently John was with Waste Management and Atlas Oil, both in credit management capacities.

Fred Croft, Enterprise’s CEO, is pleased with the new hire. Fred said, “As Enterprise has grown substantially, it has become necessary to develop a more departmentalized organizational structure. By recruiting the best talent available, we can better support our originators, customers and employees. I am extremely pleased with the management team that we have established here at Enterprise, and we are positioned well for our future growth plans.”

Enterprise Funding Group, founded in 1996, is an equipment finance company that provides lending

and leasing services to small and medium sized businesses across the country, with a focus on income-producing capital equipment in the construction, manufacturing, healthcare and selected service industries. The company’s website is www.enterprisefundinggroup.com.

Enterprise Funding Group, MagnetBank Partner on Lease Financing Program
Tuesday, March 21, 2006

MagnetBank, an industrial loan bank focused exclusively on lending, has agreed to provide funding for leases and loans originated by Grand Rapids-based Enterprise Funding Group.

Under the terms of the agreement, MagnetBank will fund commercial and industrial equipment leases and loans originated by Enterprise Funding Group's brokers and lessors. Enterprise will provide ongoing loan servicing and customer support.

Fred Croft, chief executive officer of Enterprise Funding, said he is excited about the relationship and is confident that he has found the right partner in MagnetBank.

"We have been intrigued by the industrial loan bank concept for quite some time," Croft said. "By partnering with MagnetBank, we are able to continue to concentrate on Enterprise's core competencies of underwriting, funding and servicing equipment leases and loans. I firmly believe that this relationship is a significant milestone for us and will provide us with the capital to significantly grow our business."

Chris Worel, president and chief operating officer of MagnetBank, said Enterprise was chosen because of its strong reputation in the industry, lease-lending expertise and commitment to providing superior customer service.

"Enterprise has an excellent track record of establishing lease relationships. Their processes and procedures are thorough, well-documented and efficient, which enables them to provide the same high-level of customer service that we are committed to providing," Worel said. "We are excited about the opportunity this relationship provides for us to further diversify our loan portfolio mix by adding high-quality commercial and industrial leases."

Croft was equally enthusiastic about the agreement with MagnetBank.

"Having met with MagnetBank's senior management team, we are impressed by their track record in the banking industry and we are confident that they understand the needs and requirements of a company like Enterprise," Croft said. "We are dealing with experienced banking professionals, and consider ourselves fortunate to have an opportunity to work with MagnetBank

August 1, 2005 – Enterprise Funding Group, LLC, Grand Rapids, Michigan, announced today that it has been acquired by James Investments, LLC. The acquisition was designed to enable Enterprise to significantly expand its operations in order to meet the needs of its recent growth. Enterprise Funding Group, a leading source of financing for small- and medium-sized companies, and James Investments, a private venture capital firm, share a common vision of the attractive opportunities in the small-ticket leasing market.

“Enterprise Funding Group has built a strong business over the last 10 years, and has been growing steadily. The relationship with James Investments will enable us to undertake a number of new initiatives and expand our business at a significantly faster pace,” said Mike Coon, Senior Vice President of Enterprise. “We have worked with the people at James Investments over the past several years, and we’ve found them to be good partners, creative and helpful. We are very excited about this opportunity.”

“This is a unique opportunity for us to become involved with a solid company in an exciting industry. It dovetails nicely with our experience, and I think we can be very helpful to Enterprise as it grows in the future,” said Fred Croft, the Manager of James Investments. Mr. Croft will become the Chief Executive Officer of Enterprise.

Enterprise Funding Group, founded in 1996, is an equipment finance company that provides lending and leasing services to small and medium sized businesses across the country. Its primary focus is on income-producing capital equipment in the construction, manufacturing, healthcare and selected service industries. The company’s website is www.enterprisefundinggroup.com.

James Investments, based in Grand Haven, Michigan, is a privately held venture capital firm. It couples hands-on participation in management with equity investments in small and rapidly growing companies. James Investments concentrates on the financial services, healthcare and IT markets.