Attachment: Your Security Interest Isn’t ‘Perfect’ Without It

The key point of this edition of Dispatches From the Trenches is to provide a friendly reminder that attachment is a cornerstone to a perfected security interest and that it is worthwhile to consider the requisite steps to attachment and their timing. Ken Weinberg reminds us that equipment lease forms need to be carefully worded so that the grant of the security interest occurs prior to acceptance in the event goods are not accepted before or simultaneously with delivery.... read more

Involuntary Bankruptcy Proceedings Part I

The filing of an involuntary bankruptcy petition by a creditor can be a very useful tool for a creditor to collect money from its recalcitrant debtor. But given some new cases, maybe a creditor should give the filing of an involuntary bankruptcy proceeding a second thought.... read more

CIT’s Arrington on the Value-Add of Vendor Finance

As the economy improves, equipment manufacturers and resellers are gearing up to meet pent-up demand. Third-party lenders providing captive services offer a viable option for those sellers that want to improve control over customer relationships by offering a broad range of financing options and customer support — while avoiding the up front investment of building their own captive program. We spoke with Ron Arrington, global president of CIT Vendor Finance, to discuss the challenges of a changing economy, recent developments within the CIT vendor portfolio and what’s going on in the third-party captive market.... read more

Pawnee Leasing

Making Pawnee Leasing Corporation unique in the equipment leasing industry is its exclusive use of brokers for all originations. Even in an era in which others have abandoned the use of brokers, Pawnee unwaveringly adheres to its business model using the broker channel and prides itself in its broker support and training.... read more

Arvest Equipment Finance

In business for a little more than four years, Arvest Equipment Finance has seen steady growth, even through a brutal economic downturn. With 2010 assets up $10.5 million, or 16.1% from 2009, the company has entered the Monitor 100 rankings at #96. Behind this success is Kyle W. Gilliam, president and CEO, and his team based in Fort Smith, AR. ... read more

First Niagara Leasing

How do you transform a non-descript small-ticket leasing company whose business is sourced primarily through the broker channel into a burgeoning regional operation in 14 states focused on the middle market in two years’ time? We asked industry veteran Edward Perkowski, who heads First Niagara Leasing, and we found out that like its famous namesake, First Niagara Leasing is rapidly becoming a force to be reckoned with.... read more

Western Alliance Equipment Finance

Western Alliance Equipment Finance has entered the Monitor 100 at #73 in style — boasting 101% asset growth and 55% volume growth in 2010. On a steady role since 2008 when Michael Brown, president and CEO, joined the company to lead the division, Western Alliance EF is poised to continue meeting its growth goals by sticking to the basics — offering a quality product with a personal touch.... read more

Thin Margins, Aggressive Terms and Higher Asset Prices Make a Comeback

The way CapitalSource’s Laird Boulden sees it, the economic recovery story has more to do with psychology than statistical analysis. In equipment finance, while things are improving, the mood is far from celebratory. Unprecedented bank liquidity has spawned new market entrants and intense competition, resulting in thinner margins, increasingly more aggressive terms and higher asset prices. But, he, like many in the industry, are more than willing to play the hand that they have been dealt.... read more

America’s Manufacturing-Led Recovery

Manufacturing has played a pivotal role supporting economic growth in the U.S. over the past year and a half, and the stage is set for this to continue. Manufacturing’s outsized contribution to growth, however, has not come from some Herculean strength in the sector. Ultimately, according to TD Bank economists James Marple and Alistair Bentley, until the housing and service sectors become more engaged in the recovery, manufacturing will reign supreme in underpinning it.... read more

Today’s Vendor Finance Programs

Today as equipment manufacturers recognize the strategic importance of providing financing options to increase market penetration and maintain the control of their customer base, The Alta Group’s Paul Frechette notes an evolving mindset among these manufacturers. More than just an aid to closing sales, these manufacturers look to their financing partners to meet the needs of an ever-savvier customer base.... read more

Most Active Vendor Leasing Companies – 2010

The Monitor’s Most Active Vendor Leasing Companies enjoyed a turnaround year in 2010 with a majority reporting healthy gains in new business volume after two years of steady decline. ... read more

Equipment Leasing Reduces Business Risks

In August 2010, the Financial Accounting Standards Board issued a proposal that would require leases for equipment, corporate aircraft and real estate to be recognized on a lessee’s balance sheet. Although it is expected that the final standard won’t be released until later this year, it’s likely that companies’ financial performance metrics and ratios could be impacted. Nevertheless, the core benefits of leasing remain intact.... read more

An Independent Lessor’s View

The last few years of market and credit swings have been enough to make even the most seasoned observer a bit seasick. GreatAmerica Leasing’s David Pohlman offers his point of view on the most effective approach in navigating the often-choppy waters of vendor finance relationships.... read more

Four Top Providers Offer Insight Into the Vendor Finance Marketplace

As an alternative to the traditional roundtable discussion format, the Monitor approached the leaders of four top vendor finance providers to discuss relevant issues facing those institutions that participate in this specialized market as well as to share their individual outlooks for 2011. The methodology was simple: each industry leader got a crack at a randomly assigned question as well as the opportunity to provide his or her take on what the future holds.... read more

De Lage Landen’s Slaats Discusses 2010 Performance, Global Vendor Finance

In March 2011, De Lage Landen reported an impressive 79% increase in 2010 year-over-year net profit as compared to 2009. The Monitor sat down with CEO Ronald Slaats to discuss the company’s extraordinary performance, the vendor finance business on the global front as well as his thoughts on the current conditions in the U.S. market.... read more

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Terry Mulreany
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