Vendor Finance 2009
May/June
Funding Issues?
It Might Be Time to Buy or Merge With a Bank
By Timothy W. Stute
It’s a frustrating market to say the least: small- and medium-sized businesses have never been in such dire need of financing, yet the lenders that serve that purpose don’t have the funding to provide it. Competitors have exited the market and will continue to do so. What’s left is a market with substantial opportunity to fund equipment purchases by borrowers with pristine credit — if only there was liquidity for equipment finance companies.
From IPO to Bank Holding Company: Marlin Leasing Scrambles to Survive
By Gerald F. Parrotto
The Marlin Leasing story details how an independent leasing company was squeezed by the ravages of a worsening economy and the evaporation of the capital markets. And after achieving bank holding company status, Marlin now finds itself heavily dependent on bank regulators and the TALF program for its future funding and, in fact, its very survival.
Equipment Leasing and Finance Association 2009 Investor Conference
Some Rays of Hope in a Financial Tsunami
By Susan Carol
Despite the global financial crisis in which assets fell by $50 trillion since last year and the industry was facing its 15th month in recession, at the March 19 ELFA/IMN Investor Conference in New York, attendees expressed some hope and optimism.
Attention Lessors: FASB/IASB Issues Lease Accounting Project Update
By Bill Bosco
Bill Bosco returns to remind equipment leasing professionals to submit comments to the FASB/IASB Lease Accounting discussion paper, Leases: Preliminary Views. After all, much is at stake and in this game as in all others — you gotta play to win!
Falling in Love Again With Your Existing Lessees
By Linda P. Kester
Remember the Captain & Tennille song, “Love Will Keep Us Together?” That could be an anthem for turning one-time lessees into multiple transaction customers.
Interview With a Vendor: Capacity & Capability Make the Difference for Extreme Networks
By Monitor Staff
In January, Extreme Networks announced it had selected LEAF as its partner in a new customer financing program. The Santa Clara, CA-based company provides converged Ethernet networks supporting data, voice and video for enterprises and service providers. For a change of pace, the Monitor speaks with a representative from the vendor who gives readers insight into the company’s selection process.
The Job Search
This May Be a Good Time to Prepare for the Future
By Gerald F. Parrotto
With all the talent currently available, one could argue that it’s an opportune time to upgrade your talent and build a bench to better prepare for the next turn in the economic cycle.
Is a Bankruptcy §363 Sale of Assets a Lender’s Friend or Enemy?
By Andrew K. Alper
In some instances, a preplan 363 sale can still be structured to accomplish many objectives: it can meet the requirements of the Bankruptcy Code, be used to limit the leverage of out-of-the-money junior lienholder hold-outs, and serve as an expedient way to get assets sold and money distributed to creditors. In short, the 363 sale can be a lender’s best friend or its worst enemy.
Protecting Your Collateral: A Little Something About Lessee Assignments and Assumptions
By Kenneth P. Weinberg
In these difficult times, lessors are more frequently willing to allow an existing lessee to assign its rights and interest in leased or financed equipment to a new lessee so long as the new lessee assumes all obligations under the lease. This issue of Dispatches from the Trenches discusses additional due diligence that should be conducted for lessee assignments and assumptions.
