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Providence Equipment Finance (PEF)

PEF Solutions that work (Circle R)


Our goal at Providence Equipment Finance (PEF) is to assist new and existing, small and mid-size businesses with turnkey financial solutions to obtain the tools of the trade they need to be successful. For over 30 years, our equipment financing specialists have been funding commercial equipment needs quickly, decisively and accurately on a national scale. Count on a well-capitalized bank with a straightforward and entrepreneurial approach to solve your most challenging opportunities in the best way to keep your business moving forward.


Commercial Equipment Leasing

Providence Equipment Finance (PEF) helps differentiate your company from the competition by providing you with creative capital solutions to finance your commercial equipment needs. Our comprehensive and no-nonsense, entrepreneurial approach to risk management differentiates PEF from other capital service providers. PEF dedicates resources to realizable revenue opportunities, which results in our highly efficient funding ratio.

PEF underwrites both conventional and emerging growth programs to handle your client’s complete equipment finance and leasing needs from emerging growth through fully mature companies. We have developed our proprietary National Community Credit™ approach to financing the needs of small and middle market businesses based upon lessons learned over the last 30 years of economic cycles in the banking and leasing industries. Credit scoring is only one tool in our risk management system and is not the principle means of making a credit decision.

Leasing Forms

Leasing Application Personal Financial Statement

Bank Leasing

Providence Equipment Finance (PEF) provides one of the most comprehensive bank leasing programs in the nation. Our bank leasing products help you cross-sell a valuable financial service, which enhances your customer retention by protecting bank relationships and expanding depository opportunities.

PEF is a direct funder and servicer, which provides your bank with the opportunity to manage credit exposure while simultaneously generating a new source of fee income. The unique combination of our human and financial resources defines how PEF differentiates itself from the competition and provides Solutions that work® for you and your bank customers.

Our four proprietary banking services include our Lease Purchasing Product (LPP); Direct Lease Origination Product (DLO); Vendor Lease Origination Product (VLO) and our Bank Equipment Product (BEP). LPP™ allows your organization to carefully test out a leasing product by setting up a broker desk to sell or hold leases. DLO™ arms your bankers with a cross-selling tool to offer your existing customer base. VLO™ targets bank customers in manufacturing and distribution and provides them with a product to increase their revenue base. BEP™ provides your bank with an option to preserve capital by leasing equipment for new or existing branch locations.


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Portfolio Services

Providence Equipment Finance (PEF) has extensive portfolio and treasury management experience. The principals of PEF have provided over $1 billion of financing to business clients. We service the portfolios of our financial partners, which consist of banks, finance companies and investment firms. PEF provides seamless portfolio management, which includes the billing, collection and remittance of rent, sales and use tax. PEF is one of the first privately held leasing companies in the nation which electronically collected from every one of our customers. Our electronic process provides our investors with timely reporting and remittance.

Our relationships with these sources extend over many years and have been built based on trust and performance. Our in-depth and manually intensive underwriting process combined with our highly automated back-office operation differentiates our firm from other specialty finance companies. Our success has been built by funding one deal at a time, which is evident as demonstrated by our superior portfolio performance. Confidential portfolio performance data is available upon request.

Perhaps the best value of all is our direct and private label collection services for your commercial leasing portfolios. PEF management has extensive workout and litigation experience. We maintain a full range of collection expertise from the routine to the severely delinquent accounts. Our fees are competitive and contingent upon collecting cash from your customers. If we don’t collect, you don’t pay.


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Dale Kluga, President, Providence Equipment Finance, has over 35 years of commercial leasing and banking experience. In 1989 he co-founded a community bank for the second largest Chicago based banking organization at the age of 29 and subsequently founded the parent company’s equipment leasing subsidiary, which was acquired in 2007 by Bank of America. Mr. Kluga is a CPA and 1981 graduate of Northern Illinois University with a B.S. in accounting and is a graduate of Continental Illinois National Bank’s Financial Information Services Training Program and its Wholesale Banking Training Program. Mr. Kluga is a regular guest on nationally syndicated TV and Radio shows and is frequently published in leading business journals on banking and small business issues. Please see our News & Articles section for links to his interviews and articles.


Dale Kuga

Dale R. Kluga

President, Providence Equipment Finance


Email*: Dale R. Kluga


PEF Solutions that work (Circle R)


News & Articles

Keeping our small and mid-size companies well informed with practical industry as well as leasing articles, white papers and interviews from our team of experts who have over 30 years of experience.

May 6, 2020 Meet the Funder Presentation
Sponsored by the AACFB
Dale Kluga & Ryan Rau 
Video below



July 6, 2016 BizCastHQ
Spotlight Video
Kluga on Serving Local Communities
Click here to view the video

April 20, 2016 Press Release
Providence Bank & Trust Acquires
Cobra Capital, now knows as PEF

Click here to read the full press release

PEF Solutions that work (Circle R)


Contact Us


1555 S. Ardmore Ave

Villa Park, IL 60181


Providence Bank & Trust Building Ardmore

Dale R. Kluga

President, Providence Equipment Finance


Email*: Dale R. Kluga

Ryan M. Rau

Business Development Representative


Email*: Ryan M. Rau

Providence Equipment Finance  |  1555 S. Ardmore Avenue, Villa Park, IL 60181   |  630-985-3500

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