N. S. Penrose and John Stirrat formed Cypress Leasing, Inc., in 1986. The company was formed to act as an investment tool for the principals and to provide lease financing for telephone systems sold by an affiliated company. In 1994, Mr. Penrose and Mr. Stirrat sought to affiliate Cypress with a full-service leasing company to better manage lease assets.

Through a mutual banking contact they were introduced to Michael Palmer, owner of Business Leasing Northwest, Inc. Mr. Palmer’s company was started in 1990 and provided equipment financing and banking financial services to businesses throughout the Pacific Northwest. The principals of both companies agreed to a merger, forming Cypress Leasing Inc. d/b/a Business Leasing Northwest, Inc.

Today, Business Leasing Northwest operates as a full-service financial services company providing business financial solutions to companies throughout the Pacific Northwest. Michael Palmer is the President of Business Leasing Northwest, and manages the day-to day operations.