Trillium Financial Services
When it comes to leasing, Trillium Financial Services Brokers dominates the industry. The company, based primarily in Ontario, has assisted over 17,000 customers in financing both commercial and personal assets since its inception in 1998. Trillium’s goal is to offer the best competitive rate to clients of all ages, income levels, and employment type.
Fifteen years ago, Trillium Financial Services Brokers began facilitating deals within the automotive sector. The company began small, providing only a few small-to-medium sized dealerships with help financing their customers. Over the years, Trillium began servicing hundreds of Ontario dealers while offering clients with a variety of financing options.
The company now dominates the automotive financing industry, and has expanded into other asset types. Trillium boasts their diverse array of asset loans, ranging from personal motorcycles to commercial dentistry tools.
Creative Business Strategies
Trillium’s secret lies in its office process. Instead of focusing on the asset, President Orit Koren and her team begin building client profiles based on credit history. Koren “builds a story” on each client, creating a lucrative profile to sell to potential lenders. Through creating personal connections between clients and lenders, Trillium turns business ties into professional relationships.
Koren values her lenders above all else – something she views as a key factor in pushing her business forward. She remains non-specific in the types of assets she takes on, instead choosing to ensure all ratios are always intact. “Our interest is to satisfy our lenders and protect their interest first. This makes the lenders more accommodating with future deals we may send them,” Koren explains.
Trillium is licenced with the credit bureau. While an individual inquiry into changing one’s credit status may take up to three months, Koren and her team can complete the tasks in only a few weeks. “We have the ability to package the deal properly, ask the right questions, and get the deal bought,” explains Koren.
Trillium also holds significant buying power. In a process Koren describes as, “similar to buying wholesale versus retail,” Trillium’s ability to offer lenders large numbers of customers greatly reduces their rates. This ‘buy in bulk’ strategy allows Koren to offer the best deals possible to both asset holders and lending institutions. When connecting to potential clients, Koren confidently claims, “I buy more, I sell more, and I can sell it cheaper than they [the customer] can with anyone else.”
Strong Business Morals
“I don’t advertise 100 per cent approval, I don’t think that’s fair to my clients,” says Koren, “but I do have a lot more options for customers than other institutions. Companies with those guarantees usually only deal in specific industries and will only take on certain, prime clients. That’s not what I want. We want to be the go-to company for any financing need.”
Trillium’s policies echo its moral stance. They follow three core values in-office: Responsive, Partnership, and Fun. Koren aims at avoiding generic wording in her company value statement. Not only do these values come into play internally, but they are incorporated into every interaction with clients. “Our customers are very important to us. It’s far too common in my industry for some people to cut corners. We never do that,” says Koren.
Trillium’s integrity-based approach has allowed the company to build unique, exclusive relationships with lenders unattainable by other institutions. Her reputation gained her the position as the only brokerage affiliated with the Used Car Deals Association (UCDA), giving Trillium substantially leverage in facilitating automotive loans.
Strong Female Leadership
In October 2013, Koren ranked 15th on PROFIT Magazine’s Canada’s Top 100 Female Entrepreneurs. PROFIT selection process analyzes both business strategies and 5-year growth history. The decisions are rigorous and highly competitive, with only the very best businesswomen making the cut. This year marks Koren’s second year in the rankings; she sat at number 70 in 2012.
Koren credits her amazing achievement to her recent change in procedural process. “Basically, we went from simply brokering the deal to buying the business and selling it to lenders,” Koren explains, “This has allowed me to secure better terms and build better relationships with lenders, thus allowing me to offer better options to my clients.”
After implementing these changes just over a year ago, Koren’s revenues have increased by about 400 per cent. She expects this exceptional trend to continue.
Earlier, in June 2013, PROFIT has also ranked Trillium number 151 in its annual listing of Canada’s Top 500 Fastest-Growing Companies. “This achievement reflects our commitment to quality service and the unwavering dedication of our team,” comments Koren.
Koren also co-authored Women Who Mean Business in April 2012 with Celebrity Press. Her chapter earned an Editor’s Choice Award. Trillium has also been featured in a number of prominent publications such as Ontario Dealers and Canadian Auto World.
Trillium Financial Services Brokerage currently operates primarily in Ontario. Within province, Koren and her team can offer financing assistance for both leisure and commercial assets. However, Koren believes this to just be the beginning of her business growth.
“I know Ontario extremely well, but I know I can succeed in other provinces,” Koren explains, “We’re in the process of expanding to other provinces, but this takes time. I plan to be in at least one other province by the end of this year – hopefully more.”
Koren also hopes to continue to increase the diverse array of assets she can help finance. Trillium recently connected with a lender that provides financing for nearly all other needs, including tuition, home renovations, and medical procedures. These connections can further help Koren build meaningful connections between buyers and lenders.
“I want to be more on the personal side of industry,” says Koren “Different people go through different situations. The average consumer isn’t as financial-savvy – they aren’t in the industry. They aren’t always aware of their options. I can help guide them into finding the best deal.”