The Alta Group joined the Independent Community Bankers of America (ICBA) to serve as a resource for members that are launching or expanding equipment leasing and finance operations.
Andrew G. Mesches, an Alta director with 30 years’ experience in the regulated environment of commercial lending and bank-owned equipment finance, noted that liquidity in the marketplace is encouraging more community banks to start equipment leasing programs or further develop existing ones. “Community banks are looking for other sources of revenue outside of traditional bank products, and equipment finance can be a good source of revenue with high yields,” he said.
“Banks should approach the equipment leasing opportunity with the understanding that it is a specialized business that requires specific competencies. It is the only product within the bank that involves actual ownership and maintenance of equipment, and with that the need to consider residuals, the aftermarket for equipment at the end of the lease term, regulatory issues, tax considerations, managing the risk of liability, and other factors,” he explained.
Mesches said Alta is uniquely qualified to help banks with their equipment finance consulting needs because all client engagements are managed by seasoned senior-level equipment finance industry professionals.
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