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Phil Dushey, an Original Member Leasing News Advisory Board

Phil Dushey answers three Questions:

Philip Dushey
Global Financial Services
1 State Street
New York NY 10004
Email:phil@gbtsinc.com
Phone 212-480-4900
www.globalbrokersystems.com
www.globaleasing.com
www.globalchurchfinancing.com

1. How important do I expect the government stimulus plan will
benefit my business
. This is a very difficult question to answer.
It all depends upon how the government distributes the money. If
they continue to give big business hundreds of billions of
dollar and not be accountable I think it will not be good for us
at all. The key focus of the government is to create jobs and
get the economy stimulated. I believe they need to give small
businesses tax incentives to hire people. Tomorrow they could
put millions of people to work by just giving small business a
tax incentive of 50% of all new salaries paid out. This would
lead to billions injected back into our economy, but most
important the perception of doom and gloom would end and
businesses will start to expand and that will have a direct
benefit on our business.

2. How has the economic upheaval and credit market change
affected your business Model
? I have been in this business for
over 25 years and have experienced many bad economies. There
was a time in the 80's that the prime hit 22%. I remember also
in the late 80's the S&L debacle where almost overnight every
S&L in the country collapsed. I remember the tragedy of 9/11. In
all of these cases the whole country was thinking "Doom and
Gloom”. Businesses were closing and tens of thousands of people
were laid off weekly. In all of these economies my company
Global Financial prospered because it was my felling the
United States of America was not "Going Out of Business" In each
economy there are always winners and losers and in all cases
they need money. I believe if you stay in this business long
term you must shift your business model to the needs of the
economy. I learned many years ago that just being in the leasing
business alone is not very healthy. Businesses need different
sources of money at different times. During the 9/11 debacle
nobody was getting equipment but they needed to replace their
working capital lines of credit because banks were putting
companies in default on a wholesale level. That year we made
money hand over fist and working until 11 pm or later every
night processing lines of credit we were able to provide. Our
rates were much higher than banks but who cared because the
alternative was far worse. I could mention more stories and
examples but the bottom line is you need to stay mobile and
shift your thinking to the needs of the clients you serve in any
economy.

3. What would I tell a kid who said Mom/Dad I want to be in
leasing just like you
? I would tell them that's a great choice.
In the over 25 years I have been in this business I have not
seen any other business that affords the opportunity that our
industry has. I believe in the United States of America--- and I
believe our economy will continue to grow, and as long as that
remains to be the truth businesses will grow and our services
will always be needed.

Phil Dushey, an Original Member Leasing News Advisory Board

Phil has been active in the finance and leasing industry for the over 30 years. His first company was Global Financial Services, which is still active and successful today. Global specializes in all types of financing such as equipment leasing, accounts receivable financing, debt restructuring, and establishing lines of credit. Mr. Dushey feels that to be competitive in today's expanding financial climate a company must be able to service all of his clients needs not just equipment leasing.

In 1989, Mr. Dushey saw a need for a company that would serve the needs of churches, synagogues, mosques, and other places of worship throughout the country for equipment Leasing. At the time, most financing sources were reticent regarding religious institutions. He then formed Global Church Financing. It continues to be the leading company in providing financing to churches and other religious institutions today.

In 2003, Mr. Dushey fulfilled one of his lifelong dreams and formed Global Broker Training Systems. This is the most comprehensive and successful training school in the country to train people who want to enter the finance and leasing business. The program includes everything they need to enter the business. The training is based upon Mr. Dushey's 30 years of experience in the business.

A member of the Eastern Association of Equipment Lessors, Equipment Leasing and Finance Association, National Association of Equipment Leasing Brokers and the United Association of Equipment Leasing, he has served on numerous committees, continuing to be active.

He and his wife Laurie have been married for 38 years, with three children and five grandchildren.

 

Phil Dushey is one of the founding Leasing News Advisory Board members, serving since July 10, 2000. He participated in all telephone conference calls, meetings, and in the early days, dinners. We value his outspoken contributions. He was one of the first to "complain" about the text format, the layout, always asking for photographs, graphics, html, to look better on line than we were; a "medium is the message" strong advocate.

Perhaps he is also now one of our proudest advisors as we have become what he originally wanted us to look like. It was basically a matter of "abilities" and investment of time and money and prodding from such advisors as Phil Dushey.

He wants you to become the best your are, and it reflects in his business, personal life, as indicated in his response to four questions:

1. What is the biggest issue you face in your business?
“The biggest issue we face is keeping on top current market conditions and most important our lenders. In this market the lenders have some very innovative programs, which translate to high earnings. I have always said if you know your lenders and only market to clients that they can fund you can not do anything but succeed.”

2. What advice would you give to a young person entering the business today?
“The advice I would give to a new person entering this field is to tell everyone they know what they are doing. This includes friends ,family, everyone they have done business with and everyone they do business with. The most important thing is to define yourself, which means taking all your lenders programs and combine them together and come out with ‘Your Program’ so you are important.”

3. To what do you attribute your success?
“A friend coined a phrase that sum’s up why I have been successful in my career.  ‘Successful People Do What Unsuccessful People Do Not Do’ I am relentless in my pursuit of success and never let anyone or anything gets between me and that dream. Also if you govern your life with a very high level of integrity you usually succeed.

4. What is one big thing that hope to do before you die?
“ The most important thing in the world to me is my family. Material things are really not that important to me anymore. My wife of 38 years and I have been blessed to travel and live very well. I guess when my day comes and all my children and grandchildren are successful , happy and all around me then that would be great. “

Leasing News Advisory Board Member Biography

Philip Dushey
Global Financial Services
1 State Street
New York NY 10004
Email:phil@gbtsinc.com
Phone 212-480-4900
www.globalbrokersystems.com
www.globaleasing.com
www.globalchurchfinancing.com

Phil Dushey has been active in the finance and leasing industry for the over 30 years. His first company was Global Financial Services, which is still active and successful today. Global specializes in all types of financing such as equipment leasing, accounts receivable financing, debt restructuring, and establishing lines of credit. Mr. Dushey feels that to be competitive in today's expanding financial climate a company must be able to service all of his clients needs not just equipment leasing.

In 1989, Mr. Dushey saw a need for a company that would serve the needs of churches, synagogues, mosques, and other places of worship throughout the country for equipment Leasing. At the time, most financing sources were reticent regarding religious institutions. He then formed Global Church Financing. It continues to be the leading company in providing financing to churches and other religious institutions today.

In 2003, Mr. Dushey fulfilled one of his lifelong dreams and formed Global Broker Training Systems. This is the most comprehensive and successful training school in the country to train people who want to enter the finance and leasing business. The program includes everything they need to enter the business. The training is based upon Mr. Dushey's 30 years of experience in the business.

A member of the Eastern Association of Equipment Lessors, Equipment Leasing and Finance Association, National Association of Equipment Leasing Brokers and the United Association of Equipment Leasing, he has served on numerous committees, continuing to be active.

He and his wife Laurie have been married for 38 years, with three children and five grandchildren.

 

 

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