The Equipment Leasing and Finance Association launched a new version of its flagship training course, Fundamentals of Equipment Leasing and Finance. The program offers a virtual experience and training in the fundamentals of equipment finance. The ELFA designed it both for new entrants to the industry and veterans looking for a refresher.

The course, which can be completed at a user’s chosen pace, gives learners the opportunity to run their own fictional equipment finance company. Users will learn what’s involved in the day-to-day operations of an equipment finance company, navigating through customer interactions and identifying the departments and individuals that should be involved in each step. From closing the sale to fielding customer requests and reviewing end-of-lease options, users receive guided feedback to reinforce learning.

The course is divided into seven “micro lessons” followed by the final exercise when users run their own fictional equipment finance company. These lessons can generally be completed in 10 minutes or so. Topics include the origination phase of the transaction lifecycle, leasing law and types of finance, among others.

“We are excited to launch the completely redesigned and updated fundamentals course to prepare the next generation of equipment finance professionals for a career in this great industry,” said Ralph Petta, ELFA president and CEO. “The new course is concise, flexible and dynamic, and draws on the latest instructional technology to encourage and reinforce learning. Now it’s easier than ever for those who are new to the industry — or seeking a refresher — to get the training they need, where they need it and when they need it.”

The online course is available to both ELFA members and nonmembers. The course is available for individual purchase as well as bulk purchase by companies that wish to train more than one employee at a time. The ELFA will offer a 20% discount through August 2018.