The equipment finance industry has been growing, but a number of factors have slowed things down in 2016. ELFA President and CEO Ralph Petta and Bill Stephenson, chairman of the ELFA and CEO and chairman of the executive board of DLL, provide insights on the industry’s health, the coming elections and what the ELFA is focused on in a year of political and economic uncertainty.... read more
When The Alta Group was launched in 1992, the internet was in its infancy. Over the last 24 years, the consultancy firm has grown and evolved alongside the equipment finance industry as the rapid pace of technological innovation has transformed all aspects of the business.... read more
Although the initial goal of the lease accounting project was to create a global set of rules, the FASB and IASB could not agree on everything, which resulted in some disparity. Bill Bosco discusses the key differences between the two sets of rules and the resulting implications.... read more
Hospitals use data collected by a slew of monitoring equipment to track a patient’s vital signs, often sounding an alarm when something goes wrong. Samuel Oliva of ECS Financial suggests taking a similar approach to track the health of an equipment finance company by measuring the metrics that matter.... read more
In four short years, BMO Financial Group has risen up the ranks of the equipment finance industry. While a large part of this ascent is due to the bank’s strategic acquisitions, there is more to the story. Jud Snyder and Dan Clark, leaders of BMO’s Equipment Finance and Transportation Finance businesses, respectively, also attribute this success to the company’s culture, which puts the customer first.... read more
In January, Dexter Van Dango predicted that Hillary Clinton would win the 2016 Presidential election. In the last issue of Monitor before Election Day, he examines what’s happened in the race so far and discusses what a Hillary Clinton administration will mean for the economy and the equipment finance industry.... read more
With the new FASB lease accounting standard inching ever closer to implementation, CPA Phil Tirino takes a closer look at the new leasing guidelines and gives further insight into what needs to be done to prepare and some technical points of distinction for operating and finance leases. ... read more
As economic growth continues to crawl forward, equipment finance executives face many challenges. While some are familiar, other challenges, such as technological evolution and creating a culture that appeals to all generations in the workforce, are not. Lisa Miller sits down with four equipment finance executives who discuss the state of the industry and their outlook for the future.... read more
If you are doing business in equipment leasing and finance in California, there are some additional requirements you must meet under the California Finance Lenders Law. Attorney Alan Abergel explains the complexities. ... read more
Bill Bosco explores the lighter side of leasing. He shares a few amusing anecdotes from his leasing career to remind us that there’s more to leasing than formulas and number crunching.... read more
Technology has changed the game for everyone in equipment finance, including sales people. While the digital age has provided advancements, it has also ushered in an obsession with data. Linda Kester shares 14 tips that utilize technology to improve sales without getting lost in the CRM system.... read more
Attorney Ken Weinberg teaches equipment lessors how to protect their companies from crooks, particularly those who enter into a legitimate transaction only to later attempt to defraud creditors by transferring assets from an original lessor to another entity.... read more
When lessors begin software upgrade projects, there are many factors to consider. Mark Belec discusses allocating time properly, avoiding internal positioning, adopting proper standards to validate value attributes, properly classifying software, avoiding project duress and ensuring an arm’s length approach.... read more
When EverBank launched its capital equipment finance group in 2014, it asked Ken Walters to come in and help lead it. Fast forward to today, and Walters is once again taking on a leadership role for a new group, which combines the structured equipment finance and ABL arms of EverBank. He shares the rationale behind the combination, how the new group is fairing in the early going and why it's focused on taking a generalist approach to the market.... read more
Even though it may seem like working with a competitor, equipment financing companies and banks can find mutual benefits from a bank referral program.
Although newer safety features for commercial trucks add expense to the purchase process, being smart about what technologies to choose will lead to safer fleets as well as a positive ROI. Jim Sweeney of AmeriQuest explains the options available and how fleet operators should handle this issue.