CEFI’s Tech Stack Delivers Immediate Results
Minneapolis, MN – [May 12, 2025] – Northteq, a Minneapolis-based provider of Salesforce-powered loan origination solutions for equipment finance lenders, announced the successful implementation of its aurora platform for Commercial Equipment Finance Inc. (CEFI), a relationship-focused independent finance company based in Puerto Rico. In the nine months since go-live, CEFI has processed over $125 million in funded deals through the platform, achieving major efficiency gains and digital transformation without expanding their headcount.
By automating workflows and integrating Aurora with CEFI’s servicing platform, CEFI has cut time-to-funding and shifted 95% of deals from wet signatures to e-signature workflows.
“Aurora gave us the automation and efficiency we needed without sacrificing the personal relationships that drive our business. What we’ve accomplished in just nine months through the new platform speaks volumes. And we’ve only scratched the surface,” said Ricky Rios, president of CEFI.
CEFI chose aurora after conducting a company-wide review of its tech stack. The goal was to find a scalable, flexible platform that could evolve alongside its business. The company opted for aurora’s primarily out-of-the-box configuration, adding key customizations to help the credit team remain agile while preserving compliance controls.
“CEFI had a vision of providing an amazing customer experience by implementing intelligent automation that complements their relationship focused business,” noted Kristian Dolan, chief executive officer of Northteq. “They’ve shown how the right platform can drive real results without adding additional strain.”
The aurora platform, built on Salesforce, now handles the full deal flow from submission through funding. Its automation capabilities, including custom workflows and approval processes, have already saved significant time for internal teams while enhancing the borrower and dealer experience. CEFI plans to expand its use of the platform in 2025, with future integrations and additional automation on the roadmap.
About CEFI
Founded in 2009, Commercial Equipment Finance Inc. (CEFI) is the largest independent finance company in Puerto Rico. Serving clients across Puerto Rico and the continental U.S., CEFI specializes in equipment financing across construction, transportation, healthcare, manufacturing, and more. With over $900 million financed and over 2,700 customers served, CEFI’s mission is to build partnerships by providing tailored financing solutions that support business growth.
About Northteq
Northteq, LLC is a Minneapolis, Minnesota-based fintech company that has empowered over 175 lenders to provide their borrowers, vendors, and employees with automated lending solutions that increase revenue and create better lending decisions. Aurora, Northteq’s flagship product, is an automated, Salesforce-powered loan origination system, vendor, and borrower portal.
Northteq carefully selects partnerships with industry-leading providers in credit, fraud detection, and other essential areas, such as Middesk, Truepic, PayNet, Mastercard Identity, FICO, Equifax, Experian, D&B, TimeValue, LexisNexis, Nintex, Ocrolus, Plaid and more. By choosing the best partners, Northteq offers lenders partner integrations that allow them to make smarter, automated lending decisions.
Northteq is now primarily owned by Arthur Ventures, a respected Minneapolis-based early growth capital firm known for leading investments in B2B software companies. This partnership positions Northteq for continued growth and innovation. Since 2013, Arthur Ventures has partnered with over 50 companies across the United States and Canada. For more information, please visit northteq.com.
