Letter from the Editor – 2024 Funding Source & Top Private Independents Issue

by Rita E. Garwood Mar/April 2024
Get the full rundown of everything that appears in Monitor's Mar/Apr issue, including the Top 30 Private Independents, Funding Source Roundtable and updates on M&A and the capital markets.

Rita E. Garwood,
Editor in Chief,

The first flowers of spring are beginning to break through the soil just outside my front door, but the chill of winter is still in the air.

Will we get a snowstorm next week or a sunny spring day? This scene reminds me of the state of the equipment finance industry today. The last year has been tough for many players — particularly banks — and the effects of the ongoing storm, including rising capital costs and an unexpected game of musical chairs for many industry professionals, continue to play out.

In The Edge, Jennifer Martin, now with LTi Technology Solutions, and industry recruiter Scott Preiser of Molloy Associates explore the transitions taking place in the employment landscape and the journey many are taking into the unknown of displacement.

Speaking of uncertainty, helping attendees become “future proof” is one of the goals of Converge 2024. In a podcast interview with Monitor, Lisa Rafter and Bill Verhelle, CEO of QuickFi, share why attending this year’s conference is a must for leaders in our industry.

Meanwhile, as the perfect storm of rising interest rates, bank failures and geopolitical tensions continues to rage on, James Jackson from The Alta Group provides an update on mergers and acquisitions in the industry and an outlook for the year ahead.

In a new column, Capital Markets Corner, Scott Kiley outlines the rollercoaster ride that the capital markets have been on over the last 12 months.

We also provide the cliff notes from ELFA’s Women’s Leadership Forum and the ELFA Innovation Roundtable event.

Let’s not forget the two main themes of this issue: private independents and fundings sources. This year’s group of Top 30 Private Independents continued to grow, albeit at a slower pace than the record-breaking percentages we’ve witnessed over the last two years. We checked in with three independent leaders on the state of the market and the rise of private credit as an alternative capital source.

In addition to our Funding Source Spotlights, we checked in with four lenders about current deal flow, credit quality concerns, the rise of fraud and how turmoil around the globe and within the banking industry is impacting their businesses.

In Doing the Work, we explore the politicalization of diversity, equity and inclusion that has taken place in the wake of the Supreme Court’s decision to overturn affirmative action last summer. In The Tomorrow Zone, Deb Reuben interviews Rafe Rosato about how AI can be a tool for the curious minds — and a great way to expand your team’s operational capabilities.

And finally, in Tipping the Scales, Ken Greene explores financing possibilities in the music industry and how lenders and lessees can break into the scene (it may require more than a few late nights filled with great tunes).

We are already hard at work on this year’s Monitor 100 issue. Sign up for Monitor Suite now to ensure you receive early access to our most anticipated issue of the year. I hope to see you in person at Converge. If you haven’t registered yet, visit convergebymonitor.com for more information.

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