Funding Source 2008
This past year started out in a blaze of glory with plenty of equipment lease and loan products to buy, and an abundant supply of cheap and easy money from many reputable sources. My, how things can change in one year.
In a speech on June 7, 1966, Robert F. Kennedy said, “There is a Chinese curse, which says, ‘May he live in interesting times.’ Like it or not, we live in interesting times...”
At this point, the question of whether we are in a recession yet is really just a matter of semantics. Not only has the economic news been negative month after month for some time, but new data from the leasing industry shows that payment delinquencies are now accelerating. There are some bright spots, however, as well as some reason to believe that the recession may be short lived.
Drafting a choice of law provision is not as easy as it seems if you assume the Uniform Universal Code (UCC) is ‘universal’ in all states. But it isn’t. Therefore, one needs to be extra vigilant in writing these provisions to ensure the outcome isn’t different from what was intended.
Funding Sources Combat Credit Woes By Performing Stricter Due Diligence, Solidifying Relationships With Brokers
With the “irrational exuberance” of 2007 now long gone, yesterday’s excess liquidity has given way to a desert landscape of collapsed deals and skittish investors. But in this year’s Monitor Funding Source Roundtable participants say that at least where equipment finance is concerned — there’s still plenty of liquidity to go around; the trick is where to look for it.
The United Association of Equipment Leasing is celebrating its 35th year. In this year’s message, Paul Knowlton, the group’s president, provides an overview of his experience in the association, its history and mission, and its value to the leasing professional.
After ten years in business, Priority Leasing understands that being number one means its customers always come first. Named by Inc. magazine as one of the 500 fastest growing U.S. companies, one can’t argue with its apparent success. In this month’s Profile of Success, Bob Glendon tells it like it is…
In these times of uncertainty with banks becoming tighter with money and terms, one has to wonder the effect this will have on the basic tenants of leasing, including warehouse lines of credit. OFC Capital’s Peter Eaton discusses the future of lessor funding.
The word “change” inspires some and frightens others. As we move through 2008, Bruce Smith, the president of the Eastern Association of Equipment Lessors, takes a look at how change has come upon us whether we wanted it to or not. And even with all the differences, the principles behind the association have remained intact.
Although the economy’s taken a turn for the worse, the brokers profiled for Monitor’s Annual Funding Source edition recognize the issues at hand, yet deal up a positive view. Instead of wringing their hands, all are concentrating on the core principles that keep them in business while focusing on other ways to continue to grow.
National Association of Equipment Leasing Brokers (NAELB) president Brian Montgomery touts the resources available for those wishing to join the association. He then delves deeper noting that as part of an organization you have others to watch your back and aid you on the path to success.
In a time when the working relationship between brokers and funding sources has never been more important, attorneys from law firm Askounis & Borst — Thomas Askounis, Alex Darcy and Debra Devassy — discuss the common missteps and resolutions that can arise in these partnerships.
In the 24 years since a small group of leasing professionals started the Certified Lease Professional designation, it has become the only designation in the leasing and finance industry that recognizes those who strive to be the best in the business. This article chronicles the history and mission of the foundation, and explores the requirements, preparation and payoff for those who wish to become a CLP.
Every individual has insurance, whether it’s a signed and paid for document for your house or car, or just a way to ensure your business partners are working with you toward a common goal. Monitor columnist Gerry Egan brings a simple yet profound principle to consider that may be just what your business needs.
Everyone has habits and patterns that determine their actions and interactions. And when change disrupts those things, it can cause fear and is rarely, if ever, fun. While it isn’t always easy, change can lead to growth, progress and even confidence. Monitor columnist Linda Kester explains why.
With the massive layoffs, downsizing and plain uncertainty in businesses these days, many are wondering what else could be out there. Molloy Associates’ Margie Landreth offers some advise for those who are looking for a new job and for the “survivors” of a company who might pursue greener pastures.
Columnist Andrew Alper discusses the common missteps taken by both lessors and lessees when drafting a hell or high water provision in equipment lease agreements. He also provides recent examples of the courts’ uneven decisions regarding the matter.
How does a guaranty affect a lease? How does the court rule in the case of a guaranty? In this edition, Barry Marks and Ken Weinberg tread through the different types of guaranties as well as the various rules, to show how they can be of benefit — or a detriment — to lessors.