Summit National Requests Back on Leasing News Software List

Ken Duffy, Sr., President of Summit National, requested that we put his company back on the Leasing News list of companies that specialize in leasing software.

Leasing News had listed:

“Summit National, Inc. is a leading global provider of lease accounting software and services for the equipment, computer, and automobile leasing industry. Our suite of systems include: AP 2000, MILLENNIA, OPTIMA, & MAXXUM. Summit also offers Application Service Provider and Outsourcing services.

“Summit's 350+ client/user base include 18 of the Monitor 100. Summit also provides software and services for leading small and mid-range banks, leasing companies, and other captives.”

April 5, 2005 Summit National filed for bankruptcy.

http://www.leasingnews.org/Conscious-Top%20Stories/Summit_nat.htm

Mr. Duffy asked us to put his company back on the list as they are still in business, and continue to be in business:

"We have not sought publicity in this matter but our exclusion from the vendor list deserves a response. United Airlines (and other well known entities) are also in CH11 but they're not out of business. Nor are we. As your research of court docs should have revealed, SNI was forced to take the protective CH11 action due to an unfriendly takeover attempt. In fact the party attempting the takeover tried to have the CH11 dismissed in order to pursue their objective. The Court in Chicago(05-B15565) issued its opinion dismissing their motion on 7/19. On 8/18 the 6th Court of Appeal in Cincinnati(03-1796) affirmed SNI's summary judgment and permanent injunction for breach of contract against this same party granted by the Federal District Court in Detroit(02-71871). The jury trial for damages to SNI under the judgment is scheduled for 11/01/05 in Detroit. I think you have drawn an improper conclusion and I would like you to correct it. We have been friends for a long time and !

" I trust this exclusion was simply an innocent misunderstanding of the facts. Please restore our listing as it has been in the past."

www.summitnational.com

Leasing News has included the company back on the list, but footnotes its present condition.

Leasing Software Companies

Top eLeasing software companies, as ranked by employees.

N/R No Response
*as reported by receptionist.

(a) Products: LeaseTeam is a full service provider of software and services to assist small, middle and large ticket equipment lessors. Since our inception, LeaseTeam has been dedicated to the equipment leasing software industry. Our turnkey solutions - Lease Sales Manager and LeasePlus - are the choice of established leasing companies and banks throughout North America, making LeaseTeam a trusted leader in the equipment leasing software industry.

LeasePlusTM, lease accounting and equipment asset management software. Lease Sales ManagerTM, leasing and financial services front-end system. Our Lease Sales Manager product focuses on automating and managing the front-end operations of a leasing company with functionality including pricing, quote generation, application submittal, pre-credit decisions, electronic credit report pulls, credit scoring or analysis, automated documentation and integration with your back-end system. Your front-end process(s) can be defined in the workflow so that everyone knows what they are responsible at any point in time. Lease Sales Manager workflow also provides metrics for measuring turnaround times for the entire process or for specific steps in the process. RDSTM, reporting database system.

In conjunction with the aforementioned software solutions, we offer licensing options that include in-house licensing, running from the clients' hardware- at the clients' site; and ASP hosting of all LeaseTeam applications.

Partnerships
LeaseTeam has historically identified "best of breed" software solutions that are complimentary with our products and entered into strategic relationships with those companies in order to provide the most cost effective total solution for our customers. We feel that this is particularly important in functional areas that span different industries and are not unique to equipment leasing. LeaseTeam currently has relationships with the following "best of breed" products:

* Microsoft Great Plains (Financial Accounting)
* Crystal Reports (Ad hoc Report Writing)
* Crystal Enterprise (Report Distribution)
* Vertex (Sales Tax)
* TaxWare (Sales Tax)
* PTMS (Property Tax)
* CBIZ (Property Tax)
* UCC Direct (UCC Filing)
* American Lease Insurance (Insurance)
* Premier Lease & Loan Services (Insurance)
* Microbilt (Business and Consumer Credit Bureau Report Retrieval)
* MelissaData (Address Validation)
* PayNet (Credit Reports)

Onsite and Virtual Client Services:
Software installation and implementation services.
Data conversion services.
Project Management services and Leasing System Consulting.
Best Practices Consulting.
Custom Reporting.

Knowledge Transfer:
We offer LeasePlusTM, Microsoft Great PlainsTM and Crystal ReportsTM training monthly at our headquarters and as-needed, onsite at our customer's offices throughout the United States and Canada. In addition to regularly scheduled training workshops, LeaseTeam holds an annual client conference in Omaha, Nebraska. The LeaseTeam client conference brings together a comprehensive grouping of Senior IT, Finance and Corporate Executives from successful leasing companies together with the experts within LeaseTeam and leading vendors to offer hands-on training as well as networking opportunities. LeaseTeam is preparing for it's 14th annual conference, which is attended by more than 100 participants each year.

Application Support:
Telephone support and online "customer only" section of our website provide direction and instruction to new and existing users of our products. Additionally, we provide ongoing product enhancement via software updates.

Technical Support:
We offer technical troubleshooting and start-up assistance to users of varying abilities, from IT Managers to Accountants.

Yearly Volume:
$10MM

Major Clients:
LeaseTeam products have installed base of approximately 300 leasing and commercial finance companies throughout the U.S. and Canada. Our organization possesses a wide variety of exposure to leasing operations including pricing, credit operation, documentation, accounting, collections and portfolio and asset management with a wide variety of types of leasing companies using our products from micro-ticket through large-ticket.

Some of our key clients include:
MATSCO Financial Corporation
IFC Credit Corporation / First Corp
Verizon Credit
Popular Leasing
Volvo Commercial Finance, LLC
Information Leasing Corporation
HPSC
Relational Funding Corporation
Eplus Group, Inc.
ICX Corporation
All Points Capital Corporation
Heartland Business Credit
Raymond Leasing Corporation
Americorp Financial, Inc.
ICX Corporation
Balboa Capital Corporation
Alter Moneta Corporation

(b) WiredCapital/CapitalStream
October ,2001,WiredCapital and Capital Stream "merged" and the corporate officers of WiredCapital kept the name but took over management.
http://www.leasingnews.org/archives/October2002/10-31-2002.htm#takeover
One of the cofounders, John Kruse, resigned January 1, 2003.
http://www.leasingnews.org/archives/Januray%202003/1_07_03.htm#john
They "integrated" with Ivory Consulting Partners in early March.
http://www.leasingnews.org/archives/March%202003/03-03-03.htm#capital

(c) Description of Services: Vision Commerce delivers unparalleled front-end e-commerce solutions to the Equipment Leasing and Finance Industries. Vision Commerce provides a front-end solution for proposal delivery, processing credit applications, status reporting and documentation via the Internet. We offer a suite of technology solutions. Vision Commerce delivers its lease origination and marketing system through an Application Service Provider (ASP) model, hosted solution or as an in-house solution. The ASP offering allows us to provide rapid and economical solutions to Subscribers. Vision Commerce has all the technical capabilities to securely support thousands of simultaneous users processing quotes and applications through the Internet. Software enhancements are applied regularly to the ASP solution at no additional cost to Subscribers.

Vision provides typical origination, workflow, decisioning, and documentation capabilities. Our product is differentiated from the rest by its marketing and co-branding capabilities. Vision Commerce hosts hundreds of private-label or custom program leasing sites supporting more than 2000 users. With Vision, our subscribers can quickly and economically deploy solutions that meet the individual requirements of vendors, manufacturers, distributors, brokers, funding sources, and partners. We understand that each relationship is different, and we have constructed our product to adapt to changing business rules.

Vision is a single solution that allows internal staff to collaboratively originate, score, price, and document in one integrated platform.

Developed using the Microsoft .NET framework, Vision showcases the versatility of the latest Internet development tools. This industry leading technology is a secure and reliable solution now and a robust foundation for enhancements planned to extend support to the leasing and finance industries.

Recent Enhancements: In February 2003, Vision Commerce, Inc. released its Vision Framework. The new framework supports the ASP, Hosted and In-House solutions all with the same degree of flexibility, scalability and configurability.

Linda Lundergan
Vision Commerce, Inc.
866-707-9929
636-669-1400
linda@visioncommerce.com

(d) LeaseComplete© is a comprehensive lease accounting and management system for the leasing industry. A true 32-bit Windows-based product, LeaseComplete boasts a robust feature set capable of supporting both equipment leasing and vehicle leasing. This lease servicing system is able to marry complex accounting features and ease of use in a way until now not available in the software industry. A truly competitive and proven product that combines its richer features with realistic pricing to bring a superior alternative to today's marketplace. Please compare LeaseComplete to the other software systems to find out why this new alternative is the better alternative.

Here is what one of our users says about LeaseComplete and the support provided by DLS:

"LeaseComplete has proven to be a solid and reliable product to handle all aspects of managing and servicing our growing equipment lease portfolio. Although relatively new, it has weathered several challenges including a very aggressive conversion schedule. The support and continued additions to the system are provided by a company, DLS, who insures quality service by proven professionals in credit software development and industry knowledge. Based on my experience their support has been second to none in both turn around of issues and attention to our expanding needs. LeaseComplete will compare favorably with any product, especially when you consider cost, features, and superior support."

Harry Kaplun, President, Frost Leasing Corporation, San Antonio, Texas

Thank you
Clinton Dunlow
Dominion Leasing Software, LLC
Clinton.Dunlow@dominionls.com
Powhatan, VA

(e) White Clark - Consulting Services
WCNA offers a portfolio of consulting and implementation services including feasibility studies, process analysis and design, system requirements, project rescue, compliance requirements (Basel II, Sarbanes Oxley, Patriot Act), securitization and interim management.

Products

CALMS (Credit Adjudication and Lending Management System), is automates front office processes with proven, reliable systems that meet your priorities and support the way you do business. CALMS components (Application Generator, Deal Structuring System, Decision System, Document Management System, Asset Inspection System, Auction & Remarketing System) offer best of breed technology that directly improve business performance.

(f) International Decision Systems

http://www.leasingnews.org/archives/September%202003/9-16-03.htm#international
http://www.leasingnews.org/archives/September%202003/9-16-03.htm#managers
http://www.leasingnews.org/archives/September%202003/9-16-03.htm#ids

(g) Cyence - ExpressOS TM is an enterprise-wide software solution based on Microsoft's .NET platform, providing end-to-end business process automation in the areas of sales force automation, deal originations, transaction structuring, credit adjudication, documentation and auditing for all types of commercial and consumer financing transactions.

ISIS is a multi-tiered application suite built on the Windows operating system platform. It consists of a client side application, ISIS Desktop Client, a server side application, ISIS Data Engine, and an assortment of specialized clients for interfacing with outside systems to support functions such as Lease Accounting, Credit Scoring and UCC filing.

(h) Summit National, Inc. is a leading global provider of lease accounting software and services for the equipment, computer, and automobile leasing industry. Our suite of systems include: AP 2000, MILLENNIA, OPTIMA, & MAXXUM. Summit also offers Application Service Provider and Outsourcing services.

Summit's 350+ client/user base include 18 of the Monitor 100. Summit also provides software and services for leading small and mid-range banks, leasing companies, and other captives.

April 5, 2005 Summit National filed for bankruptcy.

http://www.leasingnews.org/Conscious-Top%20Stories/Summit_nat.htm

Ken Duffy, Sr., President of Summit National, requested that we put his company back on the Leasing News list of companies that specialize in leasing software:

"We have not sought publicity in this matter but our exclusion from the vendor list deserves a response. United Airlines (and other well known entities) are also in CH11 but they're not out of business. Nor are we. As your research of court docs should have revealed, SNI was forced to take the protective CH11 action due to an unfriendly takeover attempt. In fact the party attempting the takeover tried to have the CH11 dismissed in order to pursue their objective. The Court in Chicago(05-B15565) issued its opinion dismissing their motion on 7/19. On 8/18 the 6th Court of Appeal in Cincinnati(03-1796) affirmed SNI's summary judgment and permanent injunction for breach of contract against this same party granted by the Federal District Court in Detroit(02-71871). The jury trial for damages to SNI under the judgment is scheduled for 11/01/05 in Detroit. I think you have drawn an improper conclusion and I would like you to correct it. We have been friends for a long time and !

" I trust this exclusion was simply an innocent misunderstanding of the facts. Please restore our listing as it has been in the past."

Leasing News has included the company back on the list, but footnotes its present condition.