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Pictures
with Captions—San Jose Regional UAEL Meeting, October 22,2003
http://two.leasingnews.org:80/imanges_uael_wael/10_22_03_pic9.jpg John Pritchard, Vencore
Solutions,Russ Wilder, Atel Leasing,Peter Eaton, Pentech Financial. Pritchard said his company starts at $50,000,
buy rate 11% to 14% and often tops out
at $250,000, rarely goes higher, but has, pays brokers two points; Eaton said his company
starts at $250,000 and goes much higher, quite often, 11% to 18%, and higher,
but most between 13 ˝ to 14%, pays two points; Wilder says Atel like $1
million and above, writes $10 million, has plenty of money, wants more venture
deals, rates go from 11% but are mostly higher, and pays two points. Soft costs, industry, and other factors change
rates and terms, but mostly three
years for all, rarely four years. Venture
business is growing. They rely mostly
on talks with the major VC investors to insure they may put more money in,
if necessary, and visit customers, plus heavy due diligence. There were several
pictures Kit Menkin took that were not very good, and unfortunately,
the ones with Archie Julian ( wearing a tie, rare)
where he looked goofy. “Go with the goofy
one,” “ Archie responded when told about the pictures. “ Hopefully I can
show people I'm not goofy in real life.” JulianA@ExchangeBank.com
http://two.leasingnews.org/imanges_uael_wael/archie_and_pierre.jpg We were able to procure
this picture from Archie’s wife, Sue: Archie with his dog
Pierre. Dumac Leasing is owned
by Exchange Bank and their territory
today is Northern California (maybe Southern California in the future.) $20,000
and above with bank credits and rates, but they are specialists in
“story credits,” meaning not letting Faire Issac scoring make their credit
decisions. They look at cash
flow, personal net worth, reasons for
a loss such as losing a major customer, divorce of partner or mate,
move to a new location, and want to understand the business and predict
the payment of their lease request.
Peter Eaton says Pentech’s minimum
is $250,000 and they look at all types of credit, study the
business, visit the applicant, and spend a great deal of time to make their
credit analysis with rates from 11% on up, mostly 14% and 18%
buy rates with two points to the broker.
http://two.leasingnews.org:80/imanges_uael_wael/10_22_03_pic4.jpg Doug Houlihan, Director
of Marketing , for Allegiant-Partners, Ben Carlile, President,
with Scott Enbon, Credit Administrator .
Carlile also brought
his Director of Sales, Paul Foster, not pictured here. They are setting the national
market a fire with their “story credit” program, doing “A,” “B” credits,
but specializing in “B-“ and “C.” “Story credits are
the reason we're in business!” Ben Carlile Allegiant Partners
Inc. 999 5th Avenue, Third
Floor San Rafael, CA 94901 Phone: (415) 257-4200, x202 Fax: (415) 257-4201 Here is one of the
“hand outs” that Allegiant Partners passed out. This one outlines their definition,
how they evaluate these credits, and their process. It is best to open
Adobe acrobat first, then download this file: http://two.leasingnews.org/loose_files/Allegiant.pdf
http://two.leasingnews.org:80/imanges_uael_wael/10_22_03_pic8.jpg Attorney Victor Harris,
bon vivant, “go get ‘em” attorney and nice guy with Bob Teichman,
CLP, Teichman Financial. He is
on the Leasing News Advisory Board
and is the correspondent for this event
http://two.leasingnews.org:80/imanges_uael_wael/10_22_03_pic1.jpg Bruce Harrison, McCue
Systems, Ben Carlile, Allegiant-Partners, Marty Garrett, McCue
Systems. McCue does not often
go to these regional conferences,
but since both Pentech Financial and Allegiant-Partners
are there new customers with the “Bronze plan,” they decided to come
and learn more about this market. Evidently their new software
has this module that allows for growth to their larger more sophisticated
software systems and this is basically a new marketplace
for McCue.
http://two.leasingnews.org:80/imanges_uael_wael/10_22_03_pic2.jpg Allen Jensen,Lease2Loan,
came from Arizona just for the conference ( and the wine, he
added) with Kevin May of GATX, San Francisco.
http://two.leasingnews.org:80/imanges_uael_wael/10_22_03_pic10.jpg Paul Knowlton, Bank
of Walnut Creek, Jake Krist, former VC investor/lessor, not producing non-profit
Ocean Film Festival in San Francisco.
http://two.leasingnews.org:80/imanges_uael_wael/10_22_03_pic6.jpg Juliet Child and
Karen Weaver of Phoenix American Financial Services, two of the team that
offers back office and other services at very low costs and terrific
customer service.
http://two.leasingnews.org:80/imanges_uael_wael/10_22_03_pic3.jpg Joe Woodley, CEO
of UAEL, who was there to brag about the attendance and success of the
recent Portland, Oregon conference, plus growth of his organization,
( and to see he many friends in the Bay Area, with Steve Crane, Bank
of the West Leasing, Bill Grohe, UAEL membership director, who was
a great help in calling around, reminding people to attend and get
more involved.
http://two.leasingnews.org:80/imanges_uael_wael/10_22_03_pic5.jpg Brad Dunham, son
of one of the founders of UAEL, Steve Dunham. Brad runs Leasing
Associates right here in San Jose.
http://two.leasingnews.org:80/imanges_uael_wael/10_22_03_pic7.jpg Margaret and Kathy. Normally you don’t salute the people who take care of the food
and wine, but they were terrific. As
a side note, I don’t know how this
group of 31 drank five bottles of 1995 Duckhorn Mt. Howell Merlot,
six bottles of 1999 Lamborn Mt. Howell “Solar” Zinfindel and seven bottles
of 1999 Chateau Woltner Mt. Howell Chardonnay, Frederique Vineyards. We actually ran out of wine at 6pm, starting
around 3:30pm and ending after
7pm. Food was all gone, including all the various
cheese. E-mail Addresses: Ben Carlilie bcarlile@allegiant-partners.com Peter Eaton Archie W. Julian
John Pritchard Russell H. Wilder
UAEL
“Two Panels” Regional Meeting October 22, 2003 By Robert Teichman, CLP “This year, Bob Teichman, CLP,
celebrates his 40th year in the leasing business, having
started in automobile leasing in 1963.
He provided funding for lease brokers for over 20 years as an
officer of such funders as Belvedere Equipment Finance and New England
Capital. His company, Teichman Financial Training, founded in 1998,
is located in Sausalito, California and provides lease education and
consulting services to lessors, funders, brokers and other members of
the financial community. “Bob is active in industry affairs.
He currently serves as a board member of UAEL and was, for three years,
chairman of their Education Committee. Bob is also on the Leasingnews
Advisory Board and was recently elected to serve on the Board of Directors
of the CLP Foundation.” A
group of 32 leasing professionals, representing all segments of the
equipment leasing business, enjoyed an evening of networking, knowledge
and noshing at UAEL’s “Two Panels” Regional Meeting in San Jose, California
last night. The
event was hosted by Kit Menkin, American Leasing, who provided excellent
wines from his cellar and delicious hors d’oeuvres. Attending were almost
an equal number of lessors, brokers, funders and service providers.
As in most recent meetings, such as the recent UAEL Annual Conference
and Exhibition in Portland, OR, energy and optimism were high, and attendees
have seen recent increases in business. As
the attendees rose and introduced themselves, it became clear that many
had been in the leasing and financing business for a long time, in some
cases up to forty years. However, as Joe Woodley, Executive Director
of UAEL, remarked, many new people are entering the equipment leasing
business, including new funders. Peter
Eaton of Pentech Financial, John Pritchard of Vencore Solutions and
Russ Wilder of Atel Leasing presented an interesting and well-received
panel on “Venture Leasing”. Representing all aspects of the field, from
small ticket to large, and from early stage venture-backed companies
to more mature ones, the panel generally agreed that the market for
venture leasing has improved since the drop-off in 2001 and 2002. More
qualified companies are appearing and more venture capital companies
are starting to invest again. Archie
Julian of Dumac Leasing (Exchange Bank), representing the small-ticket
market, Ben Carlile of Allegiant Partners, representing the middle market,
and Peter Eaton of Pentech Financial, representing the larger-ticket
market, presented the second panel on” Decisions Not Based on Credit
Scoring”. The panel discussed their positions on “story” credits. These
are non-conforming transactions requiring full financial disclosure.
The panelists generally agreed that extensive due diligence was necessary
and that any originator presenting such a transaction should have a
thorough knowledge of his or her applicant. Participants
left the meeting with a better understanding of both venture leasing
and how diverse funders look at story credits. It
was a successful and enjoyable event. Bob Teichman, CLP Teichman Financial
Training 3030 Bridgeway, Suite
213 Sausalito, CA 94965 Tel: 415-331-6445 Fax:415-331-6451 e-mail: BoTei@aol.com "Providing education
and training to the equipment leasing and financing industry." |
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