Seventy years ago, a Polish immigrant named Leon Murstein bought a single taxicab and started the company that would become Medallion Financial. Today, with nearly $1 billion worth of loans under its belt, this family business is still about making dreams come true one taxicab at a time.... read more
After ten years in business, Priority Leasing understands that being number one means its customers always come first. Named by Inc. magazine as one of the 500 fastest growing U.S. companies, one can’t argue with its apparent success. In this month’s Profile of Success, Bob Glendon tells it like it is…... read more
How does an executive take the reins at a well functioning and highly structured global equipment finance company and bring it to the next level? Recently, the Monitor sat down with Adam Warner, president at Key Equipment Finance, to discuss his pathway to success, his vision for the organization as well as his thoughts on the industry. Thoughtful in offering his view on various issues, he nonetheless had a great deal to say…... read more
In the world of commercial finance, bigger is not always better. Just ask Mike Bennie and Gary Kester; the two former Marlin Leasing executives recently launched Latitude Equipment Leasing, a five-person shop based in Marlton, NJ.... read more
In October 2006, U.S. Bancorp announced it was combining five of its units into a Specialty Finance Division, providing increased and specialized service to its customers in those sectors. Sal Maglietta was appointed to run the division, which includes equipment finance, asset-based lending, healthcare banking, energy and food/agriculture banking. ... read more
With more than 28 years on the institutional side of the equipment finance and leasing business, industry veteran Bill Fite has switched gears. In June, he was hired by MagnetBank, a de novo Utah-chartered commercial bank focused exclusively on commercial lending, to establish a national equipment finance group.... read more
On February 28, Prudential Capital Group, an investment business of Prudential Financial, completed its acquisition of General Motors Acceptance Corporation’s Equipment Finance Division. The acquisition allowed Prudential Capital to enter an asset class that it had identified as a target for growth. Prudential instantly became a force in equipment finance and leasing.... read more
Relationships are the cornerstone of any business transaction, and broker/lender interactions are no different. Steve Geller outlines some of the basic due diligence and research brokers can perform to ensure their lender relationships are successful and long-lasting for both them and any potential borrowers.
The American Association of Commercial Finance Brokers hosted its annual conference this past May in (viva!) Las Vegas. Paul Burnham provides a rundown of the three-day event, which offered attendees the chance to learn, network, and, in the spirit of its host city, maybe go home with an extra prize or two.