The Black Equipment Finance Network (BEFN) held its inaugural mixer the National Equipment Finance Association’s’ recent Finance Summit , marking the group’s first in-person event. Attended by more than 20 group members and more than 40 allies and sponsors from around the United States and Canada, the event was a success in bringing together more black equipment finance professionals and allies in one industry networking event than ever before.

The event’s theme was “Forging Inclusive Excellence in Equipment Finance”, highlighting the group’s commitment to advancing diversity, equity, and inclusion (DEI) within the industry. Sponsors for the event included Dedicated Financial GBC, Wells Fargo Capital, North Mill Capital, Wintrust Specialty Finance, NEFA, Amur Financial, Eastern Funding, VenSource Capital, and Quality Equipment Finance.

During the event, George Parker, BEFN’s president, emphasized the group’s mission to advance DEI and promote networking, relationship building and collaboration among black equipment finance professionals and industry allies. He also discussed BEFN’s approach, which is similar in many ways to the approach of NEFA and other major industry associations, emphasizing relationship building and collaborating to make industry advancements.

In attendance were members of the NEFA board and representatives from the ELFA Equity Committee, the CLFP Foundation and Equipment Finance Cares.

Early BEFN plans include: scholarships for college students pursuing studies in business and finance; a business exchange for originators and funding sources among group members, collaborating with CLFP Foundation, NEFA and ELFA on DEI initiatives, a mentoring program for members, and pursuing and coordinating internships for black college students.