Heritage Pacific Leasing History & Background

Heritage Leasing (the company) was formed over thirty years ago in San Diego, California.  The company operated for ten years as a third-party tax lessor providing tax benefits to its sole shareholder, a very prominent physician.

The company’s growth rate was nominal during these first ten years of operations given its primary reason for existence.  However during the next five years, the company opened four new West Coast offices and experienced phenomenal growth during this period.

John Otto purchased the company’s Fresno operation in 1984, which became Heritage Leasing Financial Services (HLFS).  Since that time, HLFS has been able to offer its clients quality and timely financing plus a full array of other value-added financial services.  HLFS’s continued growth during the past twelve years has generated a $36 million lease portfolio with individual contact amounts ranging from $1,000 to the multi-million dollar category. 

In 1996, Mr. Otto purchased Manufactures Acceptance Corp. (MAC), a Fresno based corporation in the same line of business.  Heritage Pacific Leasing, an operating division of MAC, was formed which assumed all assets and liabilities of HFS.  Heritage Pacific Leasing (HPL) now continues the tradition of financial strength and the wide array of financial services previously offered by HFS.

In early 1997, Mr. Otto purchased a majority interest in CenterPoint Financial Services, L.L.C. located in Denver, Colorado.  This company does small ticket market transactions ($75,000 and less) in virtually every state in the country and then securitizes the blocks of originated leases with a major international bank.  The common ownership provides HPL with an additional funding source enhancing their production potential.  The securitization process allows both companies to minimize their risk and enhance cash flow.

In late 1997, Mr. Otto purchased a majority interest in Pentech Financial Services, Inc. located in San Jose, California.  This company is a venture leasing company which engages in large ticket equipment leases ($750,000+) with emerging growth companies that have been financed by the venture capital community.

In 1998, HPL created two wholly owned entities, Pacific Services I & II, to allow qualified individuals to invest in certain lease portfolios owned by HPL.  The activities of these two entities are licensed and regulated by the California Department of Corporations. 

The above companies now connected through common ownership, business philosophy and professional staff and provide competitive financial products to our client’s business geographic and market size requirements.