I am very excited to be NEFA’s president this year as this new organization starts its first year in existence. The association is the merging of two long-standing equipment lease and finance trade associations — United Association of Equipment Leasing (UAEL) and Eastern Association of Equipment Leasing (EAEL) — created to serve the small- to mid-sized independent finance company, lessor and sophisticated broker. This new association is focused on maintaining a practice of high standards serving a segment of the equipment finance industry focused on business growth and development; a leader in education and ethics advocacy.

Forwarding the Industry
Our objectives are to foster the exchange of information and ideas on transacting business within the equipment leasing and commercial finance industry by providing opportunity to discuss, debate and publish subjects of interest to our members; to hold both regional and national meetings and conferences for mutual improvement and education of our members; to develop and encourage the practice of high standards of personal and professional conduct by the membership; to collect and disseminate industry information relevant to our members and to recognize individuals and firms that make outstanding contributions to the equipment leasing and commercial finance industry.

This association is open to all who are involved in, or associated with, the commercial equipment finance industry and want to grow their business. The NEFA is governed by a 15-member board and is supported by its staff in its Atlanta office.

Merging Synergies
For many years the members of both legacy associations talked about the overlap and commonality of each association and how each was similarly positioned in the leasing association marketplace. In the fall of 2007, following a series of discussions between the executive committees of each association board, the groups resolved that the timing and potential synergies between the associations justified merger discussions.

Both association boards passed resolutions to form a joint task force to explore the desirability and feasibility of a merger and, after almost one year of discovery, this task force submitted a recommendation to each association board and membership for the merging of the two groups. In September and October of 2008, the boards of each association voted unanimously for merger followed by a positive vote from the general membership.

Hitting the Ground Running
With its first formal meeting in November 2008, the new NEFA came into existence with its new board and governance, and set a course to continue the strong legacy started by both former associations. The first national event for the NEFA takes place April 4–7 in Orlando, FL. At this national summit, participants will hear from leading industry experts addressing current issues in credit, portfolio management and funding with forecasts for 2009. These national meetings provide a venue for not only the panel discussions but also workshops and educational programs, speeches, exhibits and networking opportunities.

In addition to this first national meeting the NEFA will also be hosting a number of local and regional events around the country throughout the year. These events will be a combination of networking, education and fun providing another forum for industry professionals to come together to discuss both business issues and opportunities. These local meetings also give members in specific geographic locations an opportunity to network and discuss local issues of concern.

The CLP Program
The association is also continuing with the Certified Lease Professional (CLP) program as originally developed by the UAEL. In concert with the CLP Foundation the NEFA looks to use the CLP in providing a powerful educational tool to its members especially with the addition of its new Web-based educational programs. The CLP is the industry’s first certification and testing program and is something that the association would like to further develop as we look at potential increased regulation.

The Value of Collective Wisdom
From a personal standpoint, I began my involvement with the UAEL in 1991, and it quickly became an avenue for me to learn more about the industry, how to further develop my business skills, and evolve from a brokerage to a lessor to even fund transactions for third-party originators. The ability to meet and discuss issues with other leasing professionals was very important in my continuing education of the business and the opportunity to formalize that education through the CLP program was priceless. There is no doubt that much of my success has come from my involvement in the leasing association. Like anything else you get out of it what you put into it and those who are active in the association and are open and willing to learn and share with others will receive a huge return on their investment that quickly transforms from knowledge to dollars and success.

My involvement in the association has not only brought me increased knowledge and success but a network with friends and other finance professionals that I can share ideas with and lean on for advise on dealing with challenges in my business. The collective wisdom and experience that a group of finance professionals offers is incredible, and access to all of it is free with your participation in the group. It is this collective wisdom that provides some of the greatest value for association.

The importance of association is needed now more than ever. We are living and working in a very challenging economic time and dealing with strong negative forces that directly affect our industry. To help combat this we need to come together within a professional forum to discuss mutually beneficial solutions for originations, credit and risk, and portfolio management.

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Brent M. Hall, CLP is the CEO of Pinnacle Business Finance Inc., headquartered in Tacoma, WA. A 19-year veteran of the equipment leasing and finance industry, Hall is currently the president of the NEFA and has served as a director or officer for both the UAEL and CLP Foundation. He is a graduate of the University of California.