|FORT SMITH, Ark. (October 9, 2020) – Arvest Equipment Finance (AEF), a division of Arvest Bank, has purchased property in the Chaffee Crossing Historic District area for its new headquarters. A “construction kickoff” ceremony was held Friday, October 9, 2020, to mark the beginning of remodeling the building at 8000 Taylor Ave., Fort Smith, AR.
Arvest Equipment Finance President Eric Bunnell has led his team of leasing and finance professionals to double-digit growth in loan production and portfolio increases over the past two years. With this growth has come the need for AEF to expand its team and its operational capacity. Bunnell is enthusiastic about the headquarters being in the Chaffee Crossing Historic Area, an area of new growth and development in Fort Smith. “Over the past year, our division has grown and reached significant milestones. Now we are ready to put down roots that allow us to grow in ways that benefit our customers, provide excellent career opportunities for our team members, and allow us to become visible community supporters,” says Bunnell.
The 9,000 square foot building on a three-acre parcel provides extra space for growth anticipated by AEF. Future growth equates the need for additional staff. Bunnell is currently working with the University of Arkansas-Fort Smith to recruit graduates in advance of hiring additional staff in Spring 2021. “We are very proud to be part of the Arvest Bank family and our team members get to enjoy all the benefits that come with that. Helping our customers meet their goals and giving top-notch professionals a career path is the basis of our corporate culture. Beginning in Spring 2021, we will invite UAFS students to visit our headquarters to gain insight into our operations and demonstrate the benefits of choosing AEF as an employer.”
Fort Chaffee Redevelopment Authority (FCRA) Executive Director and CEO Daniel Mann negotiated the transaction with Bunnell and his team, believing that ancillary growth in the area is sure to be spurred by this investment. Mann says, “the anticipation of starting this project has been tangible on both sides of the equation. We are very excited for AEF to get started because a valuable corner in Chaffee Crossing is now the site of a corporate division headquarters that will create new jobs and attract many talented professionals into the area. From a development perspective, the increased number of people working here gives us (FCRA) a stronger case for recruiting commercial, service, retail, and restaurant businesses into the area. This is the beginning of an important, long-term relationship with a company that has a history of being a good corporate neighbor. We couldn’t be happier for Arvest to expand its footprint in Chaffee Crossing.”
About Arvest Equipment Finance
Arvest Equipment Finance is a division of Arvest Bank dedicated to helping bank and vendor customers finance their equipment needs. AEF is headquartered in Fort Smith, Arkansas, with locations in Little Rock, Kansas City, and Tulsa, and does business throughout Arvest Bank’s four-state footprint of Arkansas, Missouri, Oklahoma, and Kansas. AEF offers financial assistance for commercial, medical, office, and a wide variety of business equipment purchases. For the eighth time in nine years, AEF has been ranked on the 2020 Monitor 100, an annual ranking of the largest equipment finance/leasing companies in the United States. In 2019, the company realized a 52% increase in gross production over prior year and a 35% portfolio increase over prior year.
About Chaffee Crossing
Chaffee Crossing is Arkansas’ premier economic development project located within the cities of Fort Smith and Barling. Under the direction and guidance of the Fort Chaffee Redevelopment Authority Public Trust, Chaffee Crossing has attracted $1.75 Billion in industrial, commercial, residential, educational, historical, and recreational investments that are boosting the entire western Arkansas regional economy.
Arvest Equipment Finance
Eric Bunnell, CLFP, AEF President
John Bradford, CLFP, SVP, Sales Manager
Visit the Arvest Equipment Finance website
Fort Chaffee Redevelopment Authority
Daniel Mann, Executive Director and CEO
O (479) 452-4554 / M (479) 651-0100
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