The first decade or so of digital transformation in equipment leasing and financing companies has happened in bespoke fits and starts. But as that work continues into the next ten years, digital coordination with vendors and different industry partners will become even more important.... read more
Carl Chrappa discusses falling equipment prices and 2020 predictions with a note of optimism: this too shall pass for companies that prepare. We have enjoyed historic growth in the economy and its resulting benefits for nearly a decade. Equipment sales and production have accordingly ramped up. Low interest rates have also helped. However, faced with the fallout from tariff disputes, geopolitical issues, a potentially hard Brexit and a dysfunctional U.S. Congress, this may be coming to an end. ... read more
Recent initiatives, like the ELFA Women’s Council, have made great strides toward achieving gender equity in equipment finance, but we’re not there yet. Six influential women share their thoughts on the work that lies ahead. ... read more
On November 6, nearly 100 equipment finance and leasing professionals came together at the Museum of the American Revolution in Philadelphia for Monitor’s inaugural conference, Equipment Finance Disrupted+.... read more
Rob Hoysgaard from Corcentric discusses financing alternative fuel vehicles. Financing the latest round of technological innovation is following the historic pattern of financing any new technology.... read more
The Small Business Reorganization Act of 2019 (SBRA) — which was recently signed into law and is set to take effect on February 20, 2020 — stands among the most significant amendments to the United States Bankruptcy Code in more than a decade. Prepare to confront new procedures, new issues and an entirely new subchapter V to Chapter 11 of the Bankruptcy Code. The SBRA portends a shift in small business bankruptcy practice.... read more
The size and market share of independent finance and leasing firms will fluctuate with the economic cycle, but the sector will always play an important role in the industry. Our industry’s $1 trillion size combined with the wide variety of equipment users’ requirements, creates multiple segments and a plethora of opportunities for creative entrepreneurs to disrupt and innovate.... read more
There has been a flurry of M&A activity recently as large banks and captives have snapped up successful independents. Dale Kluga, President, Providence Equipment Finance, (formerly of Cobra Capital) looks at his own journey from independent to bank-owned and asks other executives from independents and former independents about their own evolutionary experience.... read more
Though companies have been preparing for ASC 842 and IFRS 16, the new lease accounting standards, for three years, it’s only in 2019 that they’ve started to go into effect. It’s therefore no surprise they dominated the conversation at the ELFA Lease and Finance Accounting Conference, held this past September in Chicago.... read more
In an attempt to discover the new breed of leaders who will carry our industry forward in the coming years, Dexter sat down with five current industry leaders under the age of 50. In a brief Q&A, this article provides insight into their leadership style, how they see themselves differently from traditional business leaders, and what advice influenced them most over their careers. ... read more
The last time Monitor profiled Adam Warner, he had just taken the reins of Key Equipment Finance, and the industry had yet to be rocked by the Great Recession. Today, as Monitor’s inaugural Veteran Icon Award winner, Warner shares the vital lessons he has learned over the last decade. ... read more
Tony Golobic, winner of Monitor’s inaugural Pioneer Icon Award, shares the vision he used to create “built-to-last” GreatAmerica Financial Services. By focusing on people first and establishing a strong organizational design, Golobic challenges the status quo, looks beyond profit and consistently focuses on doing the right thing.... read more
Monitor’s Current Leader Icon Award winner, Financial Pacific President Terey Jennings, is a humble leader who understands the importance of building strong relationships and taking calculated risks. ... read more
Whether you are a third-party originator or a funding source/bank, the responsibility lies with all parties to build partnerships based on mutual trust, mutual commitment, shared ideas and common goals.
Patrick Gaskins, Vice President of Financial Services, Corcentric Capital Equipment Solutions
The first step in developing a long-term equipment financing strategy is to identify all of the fixed and variable costs associated with operating your current fleet. Patrick Gaskins of Corcentric recommends developing a spend analysis to identify current and future potential purchases.