Story Credit Financing
Business Loans, SBA Loans, Working Capital

Balboa Capital Corp. Bankers Capital Black Rock Capital Investment BSB Leasing, Inc Calfund, LLC Dakota Financial

Financial Pacific Leasing Forum Financial Services Gonor Funding Maxim Commercial Capital North Mill Equipment Finance

Pawnee Leasing Corporation P&L Capital Corporation Quality Leasing Co. Inc. SLIM Capital, LLC TEAM Funding Solutions

Alphabetical list - click on company name to view more details

Here are funders who take "A" and "B" rated applicants. They are also more interested not in "application only."  They become more comfortable learning more, beyond reviewing financial statements and tax returns, additional collateral, learning more about the story behind the business as qualifiers.

To qualify for this list, the company must be a funder (as qualified by Leasing News) and are on the “Funder List” and not a "Broker” or “Super Broker.” 

Leasing News reserves the right to not list a company who does not meet these qualifications.’

Funder List “A”
http://www.leasingnews.org/Funders_Only/Funders.htm

We encourage companies who are listed to contact us for any change or addition they would like to make. Adding further information as an "attachment" or clarification of what they have to offer would be helpful to readers is also very much encouraged."

Full Listings:
https://leasingnews.org/Story_Credit/Story_Credit.htm

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Fast Turnaround Time
By an Anonymous Business Finance Leader

If you want to avoid the label of a "me-too" player in your industry, you will want to identify your company's Exclusive Strengths.

Because some customers use your services, you have, at least in their eyes, Exclusive Strengths. These are strengths that are exclusive to your company, are recognized as exclusive by your customers, and for which you have earned bragging rights. Exclusive Strengths can only be claimed by you - they cannot also be claimed by any of your competitors.

In the equipment finance business, the claim of "fast credit turnaround time" can be claimed by so many competitors that the claim isn't even a strength today, it's a requirement for staying in business! The same is true for a claim that your company's people truly care about their customers. You can bet that your competitors are making the same claim to their customers.

So, how do you go about identifying Exclusive Strengths? The process is relatively simple and deceptively powerful. First, conduct a brainstorming session with everyone involved in the company's revenue generating process. You can do this in an office setting or at a retreat. Ask the participants to answer these questions: What do we have that our competitors cannot offer or what do we do that our competitors don't do? Once answers to these questions are developed into a list, the qualification process begins.

To qualify as an Exclusive Strength, what you have or what you do must be something your customers care about. For example, if you truly have a system of credit and collection activities that allow you to approve and fund more "D" credits than any industry competitor in a geographical area, and your customers care about this ability, it begins to qualify as an Exclusive Strength.

If you can prove your claim to your customers, it will then pass the final test and will qualify as an Exclusive Strength for your company. It's important to note that your claim is an Exclusive Strength only for those customers who are "D" credits or those who provide goods or services to "D" credit customers. "A" credit customers or those who sell exclusively to "A" credit customers, may have no interest in your sub-prime funding capabilities. In these cases, your ability is not seen as an Exclusive Strength because they don't care!

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What Will Your Career Look Like in 5 years
By Ken Lubin, ZRG Partners, Managing Director

Predicting your career trajectory over the next five years can be both exciting and challenging. The landscape of work is continually evolving, influenced by technological advancements, economic shifts, and changing societal norms. Here are some key considerations to think about when envisioning your career five years from now:

• Embracing Technology: With the rapid advancement of technology, it's crucial to stay abreast of new tools and platforms in your field. Whether it's AI, machine learning, or new software applications, being technologically adept can open new opportunities and make you more valuable in your field.

• Continuous Learning and Adaptability: The concept of a "job for life" is increasingly outdated. In the next five years, you may need to adapt to new roles or even switch careers. This requires a commitment to lifelong learning and the flexibility to embrace change.

• Remote Work and Flexibility: The COVID-19 pandemic has permanently altered the work landscape, with remote work becoming more prevalent. Consider how this trend might affect your career. Will your role be conducive to remote work or will you need to adapt to a hybrid or office-centric model?

• The Gig Economy and Freelancing: There’s a growing trend towards gig work and freelancing. This shift offers greater flexibility but also requires a different approach to career development, networking, and financial planning.

• Emphasis on Soft Skills: As automation and AI handle more technical tasks, soft skills like communication, empathy, and teamwork are becoming increasingly important. Cultivating these skills can set you apart in the job market.

• Sustainability and Social Responsibility: Companies are increasingly judged on their impact on society and the environment. Careers with a focus on sustainability or social responsibility may offer new and fulfilling paths.

• Global Opportunities: The world is more connected than ever. Look for opportunities to work internationally or with global teams, either in-person or virtually.

• Personal Well-being: There’s a growing focus on work-life balance and mental health. Careers that offer a healthy balance and align with your personal values and well-being will be more desirable.

• Industry-Specific Trends: Depending on your field, there may be specific trends to consider. For example, healthcare might see advancements in telemedicine, while finance could see a shift towards digital currencies.

• Networking and Personal Branding: Building a robust professional network and a strong personal brand will be crucial. This can open up new opportunities and provide a safety net during industry shifts.

Envisioning your career over the next five years involves considering technological trends, adapting to new work models, and focusing on personal growth and adaptability. Stay informed, be flexible, and continuously develop your skills to navigate the future job market successfully

Ken Lubin, Managing Director
ZRG Partners, LLC
Americas I EMEA I Asia Pacific
C: 508-733-4789
https://www.linkedin.com/in/klubin

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Leasing and Finance Industry Help Wanted

 

Final Federal Trade Commission Rules
Combating Auto Retail Scams Trade
To Go into Effect July 30, 2024
By Sloan Schickler, Esq.

On January 4, 2024, the Federal Trade Commission (“FTC”) published the final rule known as the Combating Auto Retail Scams Trade Regulation Rule (“CARS Rule”). The FTC’s authority is derived under the Dodd-Frank Act to make rules about unfair or deceptive dealer practices.

The rule was set to go in effect on July 30, 2024. As a result of a petition in court to vacate or modify the CARS Rule brought by the National Automobile Dealers Association and the Texas Automobile Dealer Association, on January 18, 2024, the FTC issued an order delaying the effective date. The petition claims the rule is “arbitrary, capricious, an abuse of discretion, without observance of procedure required by law, or otherwise not in accordance with law.” 

According to the FTC, the rule was fashioned to bring about truth and transparency in car leasing and purchasing and to combat misleading and deceptive practices. The rule prohibits misrepresentations concerning material matters “likely to affect a person’s choice of, or conduct regarding, goods or services”; requires dealers to clearly disclose the offering price; makes it unlawful to charge for add-ons that do not provide a benefit; and requires dealers to get the customer’s express informed consent concerning changes in the transaction. 

The CARS Rule applies to any person or business in the United States or a U.S. territory that (1) is licensed by a state, the District of Columbia, or a territory to engage in the sale of covered motor vehicles; (2) takes title to, holds an ownership interest in, or takes physical custody of covered motor vehicles; and (3) is predominantly engaged in the sale and servicing of covered motor vehicles, their leasing and servicing, or both. 16 C.F.R. §463.2(f).

Covered motor vehicles means any self-propelled vehicle designed for transporting people or property on public streets and therefore applies to automobiles, including cars, trucks, and SUVs. 16 C.F.R. §463.2(e). The rule specifically excludes (1) recreational boats and marine equipment; (2) motorcycles, scooters, and electric bicycles; (3) motor homes, recreational vehicle trailers, and slide-in campers; and (4) golf carts. Commercial vehicles are not exempted by the definition.

The rule applies to all methods utilized by dealers to communicate with potential vehicle lessees and purchasers. 

All disclosures made by dealers must be clear and conspicuous which means that the disclosures must be “easily understandable.” This includes advertising in languages other than English. These disclosure requirements will go beyond disclosures already required under Regulation M covering leases and Regulation Z covering retail installment sale contracts promulgated under the Truth in Lending Act.

The rule also contains certain recordkeeping requirements.

Violation of CARS, like any FTC Trade Regulation Rule, may lead to orders requiring a dealer to change how it conducts its business, return money to injured consumers, and pay civil penalties of up to $50,120 per violation.

Sloan Schickler is a partner in the commercial finance law firm, Schickler & Schickler PLLC. Schickler, a veteran vehicle leasing, finance and bank attorney and the attorneys in her firm have decades of experience representing and protecting lessors, banks, captive and independent finance companies in all facets of the vehicle leasing and financing business. She has served as the NVLA Legal and Legislative counsel since 2017, is currently the only woman on the board of directors and is a supporter of Leasing News and sits on its Advisory Board. Sloan can be reached at sloan.schickler@schicklerlaw.com or 212-262-5297.

Source: NVLA Lease Wire - February, 2024

 

 

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Top Ten Leasing News Read by Readers
February  23 - February 25

 

(1) New Hires/Promotions in the Leasing Business
and Related Industries
https://leasingnews.org/archives/Feb2024/02_23.htm#hires

(2) Leasing/Finance/Business Training
to Learn the Industry and Help Place Their Deals
https://leasingnews.org/archives/Feb2024/02_23.htm#train

(3) Prime Commercial CEO Kris Roglieri Responds
To Personal Chapter 11 Case https://leasingnews.org/archives/Feb2024/02_21.htm#prime

(4) Leasing Has Written Over 20 Years about Many
Leasing/Finance Ponzi Schemes
https://leasingnews.org/archives/Feb2024/02_21.htm#written

(5)  Look at Life as if You
Were a Bus Driver
https://leasingnews.org/archives/Feb2024/02_23.htm#look

(6)  Tesla Cybertruck owners claim $80K, stainless steel
vehicles developed ‘corrosion,’ ‘rust’: reports
https://nypost.com/2024/02/18/business/tesla-cybertruck-owners-claim-80k-vehicles-rust-corrode/

(7)  After losing $2B in 2023, California-based
Rivian lays off hundreds of workers
https://www.sfgate.com/tech/article/rivian-layoff-unprofitable-irvine-cars-18682507.php

(8) Elevating Relationships
By Scott Wheeler, CLFP
https://leasingnews.org/#elevating

(9) Publication Request by American Association
  of Commercial Finance Brokers
Clarifying: NACLB and NAELB Are Not Related
https://leasingnews.org/#elevating

(10) Mindset
By Ken Lubin, ZRG Partners, Managing Director
https://leasingnews.org/archives/Feb2024/02_21.htm#mind

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National Vehicle Leasing Association Conference
Registration Open for  October 16-18
Wyndham Grand, Clearwater Beach, Florida

We are thrilled to announce that registration is now open for the highly anticipated NVLA 2024 Conference! As a valued member of our community, we wanted to ensure that you are among the first to take advantage of our exclusive Early Bird offer.

This year's conference promises to be our most exciting yet, with an incredible lineup of industry leaders, inspiring keynote:

Michelle "Mace" Curran, combat veteran, former USAF Thunderbird Lead Solo, F-16 fighter pilot, and multiple opportunities to network.

Whether you're a seasoned professional or just starting out in your career, this is the perfect opportunity to gain valuable insights, expand your network, and stay ahead in the leasing industry.

Register early and secure your spot at this prestigious event! We can't wait to see you in sunny Clearwater Beach, Florida!
https://www.nvla.org/events/EventDetails.aspx?id=1827213&group=

(Sloan Schickler, Esq., Schickler & Schickler, will be covering the conference for Leasing News. She is also presenting there.)

Labrador Retriever/Pit Bull Mix
Fresno, California  Adopt-a Dog
(Includes full Newsweek Magazine Story)

Sora

Female
Black
Age 51.4
House Trained
Spayed
Vacations up-to-date
Prefers a home without
other dogs/Cats

Meet Sora
2-year-old Pit/Lab mix Sora is a high energy dog who loves to play and gets super excited anytime she gets to go on walks. She has been tested and does well with children over the age of 5.

Sora was surrendered to us in July of 2021 after her owner realized she needed more attention and training than they could provide since they also had another dog.
(Full Story made Newsweek Magazine - story follows).

Although Sora does well with other dogs so far at the shelter, we strongly recommend her to be adopted into a home where she is the only pet. Because of her young age and her high energy, her future home will need to spend dedicated time with her for training.

With patience and guidance, we know Sora can be a great addition to anyone's family.

If you are interested in meeting Sora, please submit an application at www.valleyanimal.org.

At Valley Animal Center our mission is to unite dogs and cats with loving people.

Her full story made Newsweek Magazine:
https://www.newsweek.com/dog-adopted-after-900-days-shelter-returned-within-hours-1872649

Valley Animal Center
3034 N. Hayston Avenue
Fresno, Ca. 93726
Info@valleyanimal.org

News Briefs

Credit Card Interest Rates are at Record Highs
     Cards have ‘never been this expensive
https://www.cnbc.com/2024/02/23/credit-card-interest-rates-are-at-record-highs.html

Biden administration awards nearly half a billion
     dollars for Northern California offshore wind project
https://www.eastbaytimes.com/2024/01/25/biden-administration-awards-nearly-half-a-billion-dollars-for-northern-california-offshore-wind-project/

Looking for a Lower Credit Card Interest Rate?
Good Luck.
https://www.nytimes.com/2024/02/23/your-money/credit-card-interest-rates-banks.html

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The rise and fall of Drizly, one of
great startup stories sold for $1 Billion
https://www.bostonglobe.com/2024/02/20/business/drizly-uber-boston-startup/

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Sports Briefs---

Fans' Fest shows Oakland A's fans are only getting
stronger in their fight with John Fished
https://www.sfgate.com/athletics/article/fans-fest-oakland-as-fans-getting-stronger-fight-18687186.php

Warriors mark Steve Kerr’s record contract extension
with defeat of Hornets= 3 Year Deal worth $35 Million
https://www.sfchronicle.com/sports/warriors/article/warriors-make-steve-kerr-nba-s-best-paid-coach-2-18685555.php

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California News Briefs---

California homeownership at highest level since 2010
...But nation’s third-lowest ownership share
https://www.eastbaytimes.com/2024/02/24/california-homeownership-at-highest-level-since-2010/

More retail stores in California appear
   to be closing self-checkout
https://www.sfgate.com/local/article/retail-stores-california-closing-self-checkout-18687661.php

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Gimme that Wine

 

http://www.youtube.com/watch?v=EJnQoi8DSE8    

This red wine was once written off.
    Now it’s making a comeback
https://www.sfchronicle.com/food/wine/article/california-syrah-red-wine-18679882.php

Current Winemaking Trends on Pét-Nat, Lower Alcohol And
Lower Calorie Wines Offered at the Eastern Winery position
https://www.winebusiness.com/news/article/283643

Sonoma County wine trucking, warehousing firms
sold to Solano County’s Yandell
https://www.northbaybusinessjournal.com/article/industrynews/sonoma-county-wine-trucking-warehousing-firms-sold-to-solano-countys-yand/