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Marlin Amends Warehouse Line

“Marlin Business Services Corp. and its affiliates Marlin Leasing Corp., Marlin Leasing Receivables Corp. II and Marlin Leasing Receivables II LLC on March 15 amended and restated the series 2002-A $100 million warehouse financing facility with JPMorgan Chase Bank NA and Wells Fargo Bank NA, “ the SEC filing reported.

“Marlin Business said in a Form 8-K filed March 17 that the amendment extended the termination date of this facility to March 15, 2009, and removed the requirement that the facility be credit enhanced by a third-party insurance policy.”

The company also disclosed Daniel P. Dyer will act as principal Chief Financial Officer, until the new one “who is expected to join Marlin shortly,” will become a non-voting member of the Office of the Chairman. The company's previous CFO, Bruce Sickel, announced his resignation in December 2005.

Leasing News has left messages for an on the contact for the press release,(Daniel P.Dyer, numerous times, but it is obvious they do not want to answer questions regarding this or why a successful company officers are selling stock, instead of purchasing more.

In a press release, the company was described:

“About Marlin Business Services Corp.

“Marlin Business Services Corp. is a nationwide provider of equipment leasing solutions primarily to small businesses. The company's principal operating subsidiary, Marlin Leasing Corporation, finances over 60 equipment categories in a segment of the market generally referred to as "small-ticket" leasing i.e. transactions less than $250,000 ( Their 2005 SEC filing discloses: “the average original lease transaction was $9,032, with an average remaining balance of $6,401.” Editor)

“The company was founded in 1997 and completed its initial public offering of common stock on November 12, 2003. In addition to Mount Laurel, NJ, Marlin also has regional offices in or near Atlanta, Chicago, Denver, Philadelphia and Salt Lake City (and has an application pending for an industrial bank in Salt Lake City. editor ) ”