Certified Leasing Professionals

by Theresa M. Kabot October 2009
Adversity is the springboard to achievement. Although the state of the economy and our industry may be sounding Mayday, the call to action at the Certified Leasing Professional Foundation is to sail before the mast. Now is the time to prepare for the opportunities that will surface after the storm.

From transportation and technology to manufacturing and banking, smart businesses are rethinking how to improve and reinvent themselves. As prudent business leaders and leasing professionals, we should take the same approach, starting with our own personal and professional development.

Now more than ever, a certification program is needed that reinforces our industry’s commitment to the highest standards of knowledge, professional conduct, integrity and ethics. Just as the designation of Master Mariner certifies the competency of a seaworthy captain, your certification as a leasing professional will distinguish you in the commercial equipment leasing and finance industry as a someone with exceptional reputation, experience and mastery of the CLP Body of Knowledge. The Certified Lease Professional (CLP) designation is the singular standard for professionalism in the leasing industry. In fact, CLP is the only leasing industry certification program in the world. The letters CLP behind one’s name are a visible acknowledgement of this professional achievement and status.

Since its inception in 2000, the CLP program has been crossing international boundaries and has become the standard of excellence across the globe, from the CLFA in Canada to the UCLS Program in Ukraine, the CLP Program in the United States is the leader in equipment leasing and financing certification. No one company or institution owns the CLP or CLS (Certified Leasing Specialist) designation. Any country interested in having an internationally recognized, comprehensive and well rounded certification program to compliment their growing economy can look to partner with the CLP Foundation. The CLP Foundation exists to: 1.) Raise the professional standards of the equipment leasing and finance industry, 2.) Encourage continuing education in current procedures, laws, and regulations, 3.) Encourage greater industry participation by leasing professionals and 4.) Continually broaden the recognition of the CLP designation. Certification is certification, no matter how you are involved in the world economy. These days, businesses can proceed securely when they know they are working with someone who is certified.

The not-for-profit CLP Foundation provides this opportunity for you to demonstrate to your peers and your customers throughout the world that you are dedicated to continuous self improvement, to continuing education and that you conduct business with the highest professional standards. To keep pace with the demand, the Foundation continually strives to improve the significance and value of the CLP certification by asking for involvement in all sectors: banks, funding sources, independents, captives, originators, manufacturers, large-ticket, small-ticket, middle-market and service providers. The Foundation also works closely with supporting leasing associations to ensure they are meeting their needs and to provide convenient access to the relevant educational events necessary to prepare for the CLP exam. Foundation teams are frequently formed to gather information and conduct intensive industry surveys for guidance in program enhancements and planning long-term goals. So far this year the Foundation has already commissioned three focus groups and task forces and industry participation is on board. The CLP Foundation is a great place to get involved because everyone wants to be a part of the winning team.

Further, the Foundation is continually reviewing and revising the CLP Body of Knowledge to ensure it is clearly presented, accurate, complete and up-to-date with current industry practices and the changing regulatory environment. The CLP Body of Knowledge addresses the full spectrum of industry disciplines, including: History of Leasing, Classification and Terminology, Standards and Ethics, Financial & Tax Accounting, Government Leasing, Agricultural Leasing, Marketing, Lessor-Vendor Relationships, Sales, Lease versus Buy Decision Making, Lease Pricing, Credit Process and Financial Statements, Leasing Law, Lease Documentation, Collections, Lease Company Management, Portfolio Management, Sources of Financing for a Leasing Company, Insurance and Advanced Lease Pricing. In keeping with this customary practice, the Foundation will be issuing an updated version of the CLP Handbook this winter, which includes new sections and topics.

Carrying out their educational and communication objectives, the Foundation provides a monthly newsletter, The CLP Circular, sent to all CLPs and available to the industry at large on the website: www.clpfoundation.org. And CLPs reading this article will be pleased to know that the recertification process has been streamlined and made available online.

Additionally, The Certified Lease Professionals Handbook provides an in-depth analysis of the Body of Knowledge topics from marketing and sales to pricing and lease versus buy analysis, from credit and documentation to collections and leasing law and everything in between. Some of this will be familiar to you, some not. Unless you have held virtually every type of position in the industry, becoming a CLP will certainly require personal discipline and an investment of time for preparation. Like Tom Hanks said in A League of Their Own, “It’s supposed to be hard. If it wasn’t hard, everyone would do it. The ‘hard’ is what makes it great.” The Foundation offers a very unique program called the Anonymity Program, designed for those who would like to study for and take the exam anonymously, with public announcement being made only when certification is earned. The CLP Foundation understands we are all in this together, and offers a complimentary Mentor Program where you can work closely with a private tutor who has already been down the path of preparation, knows the study material, available resources and how they can best help you.

As you begin your preparation for certification there are professional trainers in the leasing industry who offer courses and programs that provide thorough preparation for the CLP exam. Additionally several leasing and finance industry associations such as National Equipment Finance Association (NEFA) and National Association of Equipment Lessors and Brokers (NAELB) have educational webinars and institutes that are that are well suited to prepare you for CLP certification. And to further supplement the curriculum currently offered by professional trainers and industry association educational products and programs the Foundation offers an Introduction to CLP and CLP Master Review class at various locations throughout the year.

If you are struggling with the idea of making the personal investment of time and money, particularly in the current business environment, don’t overlook the fact that CLP certification can assist in obtaining that new line of credit, new vendor, new funding source, new customer or a better job, salary or promotion. Customer trust and confidence are essential in any type of business transaction and CLP certification can provide you the edge. The wind is blowing. It’s time to set your sails. Set a course and go.


Theresa M. Kabot, CLP, is the manager of Kabot Commercial Leasing LLC, based in Seattle. Kabot began her career in commercial equipment financing and leasing at Colonial Pacific Leasing, a Pitney Bowes subsidiary. She went on to establish Kabot Commercial Leasing in 1996. Kabot earned her CLP designation in October 1996. She currently serves as president of the Certified Lease Professional Foundation. A graduate of Colorado State University, Kabot is an active member of NEFA and the NAELB. She has served on the UAEL Board of Directors, volunteered on numerous committees with NEFA, UAEL and NAELB. She has been an instructor for the Institute for Leasing Professionals, NEFA education videos and presents across the United States on “The Key to Cash Flow.”

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