Great Tine to be a True Independent or an
Equipment Finance company that Acts Independent!
  By Randy Haug, LTi

The current market place and liquidity issues that prevail within many traditional banks today makes this an ideal time to be an independent, both on the Origination and Funding side, as long as you have anticipated and worked toward securing additional funding lines and dry capital needed to take advantage of the current market conditions.

Let’s take a look at how this is having an effect on the market. Small ticket independents are finding more direct and vendor business opportunities than they ever have in the past. And in market segments they like to work in from a credit perspective (sometimes all credit stacks) that give them the margins and the types of risk-based returns/margins they seek.


Many are very smart and have top tier credit policies, teams and savvy sales teams that allow them to sell efficiently at all levels of pricing required to be successful today. Not just at the very low bottom rates, which really are not prevalent and available in today’s market. Which is turn allowing them to expand and do well in these markets.

If you pay attention to the Independent market and new hires over the last year and particularly over the last 6 months, quality talent is migrating quickly from many regional and money center banks to smaller, yet significant small to middle market independents and other equipment finance companies who very much act like Independents in the marketplace.


The leaders that operate these companies are many times veterans and some have come from and through the bank equipment finance arenas in the recent past. They are experienced, are thought leaders, and are doing a great job positioning their businesses for significant growth. I look for that to continue beyond 2024-2025.

Randy Haug | EVP/ Co-Founder
LTi Technology Solutions
w: 402.493.3445 ext. 1014
Mobile: 402-981-3155
rhaug@ltisolutions.com
www.ltisolutions.com
https://leasingnews.org/Advisory%20Board/Haug_Randy.htm

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80% of Small Business Borrowers Point to Interest
Rates as Their Top Problem when Accessing Credit

“Small business owners have been navigating higher interest rates since the Federal Reserve started hiking rates in March 2022, but have been increasingly affected by higher rates over the last six months. NFIB again asked about business owners’ financing activities and their experience in accessing credit.

The health of the financial system is essential to small business operations and this report offers insight into how well it is serving their small business clients,” reads the NFIB Financing Sales Survey published in December.

These are the key takeaways:

• 69% of small business owners use a small, regional, or local bank; 17% use a large bank; and 14% use a medium bank.

• In December, 74% of small business owners did not try to borrow money for their business within the prior three months.

• For the 26% that did borrow money, the small business owners were evenly split about their satisfaction: 32% mostly satisfied, 30% moderately satisfied, and 30% unsatisfied.

• The number one reason small business owners were not satisfied when borrowing was the high interest rates.

• When small businesses applied for financing, the top reasons were to expand business (29%), meet operating and inventory expenses (26%), and replace capital assets or make repairs (24%).

• 56% of the owners received a term loan, and, 28% of owners received a line of credit.

Source:
NFIB Financing Sales Survey

Coleman Report
28081 Marguerite Pkwy.
#4525, Mission Viejo, CA 92690
bob@colemanreport.com

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Leasing and Finance Industry Help Wanted

 

Helping an Originator to Break the Status Quo
By Scott Wheeler, CLFP

I recently coached a veteran originator. His production level was slightly below the $25.0M level and his goal is to be in the top third of industry originations.

Close inspection of his daily activities confirmed that most of his activities and relationships are the same as they were prior to 2019. He is confined by the status quo.

The originator quickly defined several new relationships, opportunities, and programs that he was aware of but had not pursued, because of what he considered time restraints.

In a matter of weeks (not months) the originator was capturing new business. He was re-energized and he was seeing greater potential.

The originator's energy also allowed him to serve his existing vendors and end-users with additional vigor and purpose. The originator is focusing on maximizing his results, prioritizing his activities, working more efficiently, and having fun again.

I basically pursued the “Wheeler Business Consultant's recent survey; a third of all originators produce more than $25.0M of equipment funding annually. These top producers are:

• Focusing on efficient relationships
• Developing programs that ensure a consist flow of business
• Using technology to leverage their activities
• Constantly prospecting for new opportunities
• Moving forward with confidence.

Scott A. Wheeler, CLFP
Wheeler Business Consulting
1314 Marquis Ct.
Fallston, Maryland 21047
Phone: 410 877 0428
Fax: 410 877 8161
Email: scott@wheelerbusinessconsulting.com
Web: www.wheelerbusinessconsulting.com  

Wheeler Business Consulting is working with individual originators and sales teams throughout the industry to ensure that they are well positioned in the market, capturing their fair share of business, and outperforming the competition. To schedule a one-on-one meeting contact Scott Wheeler at: scott@wheelerbusinessconsulting.com

 

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Leasing News Advisory Board Chair
Shari L. Lipski, CLFP

Shari L. Lipski, CLFP
Principal
ECS Financial Services
3400 Dundee Road, Suite 180
Northbrook, Illinois 60062
847.897.1711
SLipski@ecsfinancial.com
www.ecsfinancial.com

December 31, 2020, she was named Chair of the Leasing News Advisory Board when Bob Teichman, CLFP, retired. January 1, 2019 Shari was named Vice-Chair of Board. She is both intelligent and diplomatic, and well respected in the industry.

Shari previously served on the Leasing News Advisory Board from March, 2003 to January, 2005, and rejoined in February, 2016. Her resume includes over 30 years of experience in equipment lease portfolio management, lease originations, and corporate business development.

From 1989 through 1997, Shari worked for Public Funding Corporation, a financer of small-ticket governmental equipment leases.  During her time with Public Funding, she held various positions including Lease Administrator, Corporate Secretary, and garnered equity ownership when she took the position of Vice President.  In 1997, Public Funding was sold to First Sierra Financial, Inc.  It was at that time Shari assumed responsibilities for managing operations in the Chicago branch office, as well as a portfolio of vendor relationships.

In 1999, Shari joined ECS Financial Services, Inc., CPAs, and is responsible for corporate business development with a direct focus on the Equipment Lease and Loan Portfolio Management Division as well as the Tax, Accounting, and Audit Divisions.  She also serves the firm’s clients by offering an expertise in many areas including marketing and managing a lease/loan portfolio, back-office leasing company operations, business process outsourcing, sales and personal property tax compliance, and consulting.

Shari has written for several trade publications, served as an educational instructor for several associations, as well as the Certified Leasing and Finance Professional Foundation. She was featured in the 2019 Monitor Magazine “Women in Leasing.”

OFFICES/POSITIONS HELD:
2021-present:  Equipment Leasing and Finance Foundation, Trustee
2017-2020:  SFN-Midwest Leadership Committee Member and Membership Committee, Co-Chair, and Women in Commercial       Finance Committee Member (formerly CFA)
2017-2020:  ELFA, Service Providers Business Council Steering Committee
2019 Named one of the Top 50 Women in Equipment Finance, Monitor Magazine (accolade)
2019 NEFA Funding Symposium Conference Co-Chairperson
2017-2019:  ELFA, Women’s Council Founding Member
2016-present:  Advisory Board Member
2012-present:  Women In Leasing, LinkedIn Discussion Group, Owner
2013:  Advisory Committee Member, Rockford Career College
2012:  NEFA, Funding Symposium-Conference Committee
2011:  NEFA, Finance Summit-Conference Chairperson
2010-2012:  NEFA, Conference Committee Member
2008-2012:  ELFA, Service Providers Business Council Committee Member, State Government Relations Committee Member, and Annual Convention Review Committee Member
2009 Named of the 20 Most Influential Women in Leasing, Leasing News (accolade)
2005-2008:  EAEL, Director
2006-2008:  CLP Foundation, Director
2007  EAEL, Fall Expo-Conference Chairperson
2003-2005:  Leasing News Advisory Board
2004-present:  ECS Financial Services, Inc., Principal
2003:  NAELB, Conference Chairperson
2002-2003:  CLP Foundation, Marketing Committee Chairperson
2001-2004:  Mid-America Association of Equipment Lessors (MAEL), Director
1998:  UAEL, Illinois Regional Chairperson
1999-2004:  ECS Financial Services, Inc., Lease Portfolio Manager
1993-1997: Public Funding Corporation, Vice President
1989-1993: Public Funding Corporation, head envelope and stamp licker

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Commercial Finance/Leasing Finance Conferences
2024

March 5-7: Funder's Forum, Miami, Florida
https://thefundersforumbrokerexpo.com

March 25–28:  NEFA Finance Summit, Huntington Beach, CA

April 16–18: AACFB Conference, Glendale, Arizona
https://annualconference.aacfb.org/home
Book Your Room, Special Rate until March 25, 2024
https://myemail.constantcontact.com/Book-Your-Room-for-2024-AACFB-Annual-Conference-in-Arizona.html

April 16-18: ELFA National Funding Conference, Chicago, IL
https://thefundersforumbrokerexpo.com

April 30-May 1: AGLF Conference, Austin, Texas

May 5–7: Equipment Finance Connect, Nashville, Tenn.
https://equipmentfinanceconnect.com

Sept. 4-5:  AACFB Commercial Financing Expo New Orleans, LA

Sept. 10-12:  Auto Finance CEOs,  San Antonio, Texas

Sept. 10-12, CFLA Conference, St. John's, NL, Canada

Oct. 16-18: NVLA Conference, Clearwater Beach, Florida

Oct. 27-29: 63rd ELFA Annual Convention, Austin, TX

Nov. 3- Nov. 5: NACLB Conference, Las Vegas, NV
https://naclb.getregistered.net/2024-conference-expo/agenda

Nov. 11-14: NEFA Funding Symposium, Indianapolis, Indiana

To be listed, email: kitmenkin@leasingnews.org 

Streaming Accounts Chart for Nearly
40% if U.S. TV Consumption

Beginning with the success of Netflix‘s all-you-can stream model, there has been a dramatic shift in TV consumption over the past decade. Consumers quickly came to appreciate the flexibility, ease-of-use and affordability of Netflix and other streaming services that inevitably followed, making life increasingly hard for broadcast TV networks, cable TV providers and traditional pay-TV channels such as HBO.

Felix Richter, Statista

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###########  Press Release #####################

AP Embarks on the Strategic Expansion
of Several Key Programs

Bend, OR – AP Equipment Financing, a leading name in equipment financing, is proud to announce a new expansion initiative designed to diversify and nurture their growing portfolio. In 2024, AP is placing a focus on expanding its towing and construction verticals with a concentrated effort on strengthening vendor, dealer, and manufacturer relationships.

As part of this expansion, AP brought onboard four industry experts spearheading these initiatives. Ryan Whitehead, with over 18 years of experience in equipment finance, brings an extensive background in the towing sector. Leading AP's initiative in the construction industry, Seth Davis is supported by seasoned professionals Andrew McBride and Adam Domke.

Ryan Whitehead: VP of Business Development – Towing
Ryan Whitehead leverages over 18 years of expertise in building relationships with end-users and dealers in various markets.  Coming from Huntington National Bank (formally TCF Equipment Finance), Ryan’s wealth of experience makes him a recognized expert in the towing industry, known for providing excellent service and crafting tailored programs across the United States.

Seth Davis: VP of Business Development – Construction
Seth Davis, a seasoned professional, collaborates with construction dealers, manufacturers, and end-users to optimize profitability through tailored finance solutions. With prior roles as Territory Manager, Dealer Development, and Branch Manager, Seth brings expertise that spans vendor finance, sales team oversight, and dealer growth. His focus on client and vendor relationships positions him well for spearheading AP’s construction verticals.

Andrew McBride: VP of Business Development – Construction
Andrew McBride is an experienced sales professional in the finance industry with numerous years managing vendor programs at Marlin Capital Solutions. His expertise involves engaging new and existing equipment manufacturers and dealer networks through compelling offers, including subsidized promotions, floor planning, and retail solutions. With a focus on creating unique vendor programs, his extensive experience and networking skills make him an asset in AP’s new initiatives.

Adam Domke, CLFP: Business Development Officer – Construction
Adam Domke brings over 6 years of experience in the finance sector from Stearns Bank & Oakmont Capital, providing valuable business development expertise within the industry. His background includes extensive involvement in dealer programs and vendor management, with a strong focus on growth and sales. 

Chris Lerma, CLFP, President of AP, states, “This expansion underscores our commitment to providing innovative solutions, fostering client success, and reinforcing our position as a leader in equipment financing. With a focus on towing and construction verticals, we're poised for significant growth, and our dedicated team of industry experts ensures a bright future ahead.”

About AP Equipment Financing:
Founded in 1998 and based in Bend, Oregon, AP Equipment Financing is a subsidiary of Tokyo Century (USA) Inc., the U.S. subsidiary of Tokyo Century Corporation. Tokyo Century Corporation, headquartered in Tokyo, has 7,800 employees, and offers specialty leasing and other high value-added financial services in more than 30 countries.
AP Equipment Financing is renowned for its reliability, consistently delivering innovative financial services and comprehensive expertise to ensure customer satisfaction. The affiliation with Tokyo Century Corporation grants AP the financial strength and resources of a large organization, while enabling them to uphold the swift and personalized service characteristic of an agile independent enterprise.
Learn more at https://apfinancing.com/

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Cattle Dog Mix
Roseville, California  Adopt-a-Dog

Pokey
Male
7 Months old
Neutered
House-Trained
Vaccinations up to date
Good in a Home with other dogs

 

introducing Pokey Puppy!!!

Pokey's estimated is May 2023.  He came to us in poor condition from one of the Central Valley shelters so he had little hope of making it out.  Pokey has had good care and good groceries and has flourished.  He appears to be a short stack Cattle Dog mix given his coloration and some of his behaviors.

Pokey is still shy with new people and to some extent, other dogs so patience will be needed for his transition.  Once he is comfortable, he is happy and playful.  Pokey has been learning about the wide world and walks the neighborhood every day.  He will continue to need exposure and reassurance for outings as he matures,  along with solid training.  Pokey is currently 23-24 lbs and will most like be between 30-40 lbs at maturity.  He is a strong and active player so another sturdy playful pup would be good.  Pokey  sleeps in his crate at night.  He has also mastered the dog door.  And he is pretty much potty trained.

Pokey's wish list:

1.  Fenced yard

2.  Daily walks and activity

3.  No young children.  Older respectful children

4.  Continued training

5.  Patience and leadership

6.  A compatible playmate

Sacramento Independent Animal Rescuers
Roseville, California
http://www.siarescuers.org/
Email: star.1@comcast.net

News Briefs

GM Profits Hurt by Electric car Business and Strike
    But Made $10. billion, 2$ Increase from 2023 earnings
https://www.bostonglobe.com/2024/01/30/business/gm-profits-hurt-by-electric-car-business-strike/

Truck Makers Team Up to Push for
    Electric Vehicle Chargers
https://www.nytimes.com/2024/01/30/business/electric-vehicles-trucks.html

UPS stock down before market open as company
    says it's eliminating about 12,000 jobs
https://abcnews.go.com/Business/wireStory/ups-stock-market-open-company-softer-expected-full-106791152

83% of Finance Leaders Dealt
    With Cyber Fraud in 2023
https://www.cfo.com/news/cyber-fraud-2023-survey-trustpair/705928/

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Elon Musk cannot keep Tesla pay package
worth more than $55 billion, judge rules
https://www.bostonglobe.com/2024/01/30/business/elon-musk-tesla-compensation-package/

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Sports Briefs---

How Brock Purdy QB’d 49ers to the Super Bowl
   by shredding his ‘game manager’ rep - The Full Story
https://www.sfchronicle.com/sports/michaelsilver/article/brock-purdy-super-bowl-qb-18634404.php

The 10 Super Bowl storylines you’ll hear
(over and over) before 49ers play Chiefs
https://www.eastbaytimes.com/2024/01/30/ten-super-bowl-storylines-that-will-go-bust-before-49ers-play-chiefs/

Pebble Beach Pro-Am’s new vibe: More top golfers,
more money, fewer celebs
https://www.sfchronicle.com/sports/article/pebble-beach-pro-am-new-vibe-top-golfers-fewer-18631552.php

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California News Briefs---

S.F.’s largest downtown project is now a gaping hole.
   Here’s how the legal mess could get resolved
https://www.sfchronicle.com/realestate/article/sf-downtown-oceanwide-18635503.php

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Gimme that Wine

 

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

Crystal Geyser Water Company to shut down
   Calistoga operations
https://www.northbaybusinessjournal.com/article/article/crystal-geyser-water-company-to-shut-down-end-of-january/?ref=mosthome

Axe Falls Again at Vintage Wine Estates
At least 92 potential VWE layoffs were reported
https://www.wine-searcher.com/m/2024/01/axe-falls-again-at-vintage-wine-estates

Pink Won't Save California Wine  
California has too many grapevines
https://www.wine-searcher.com/m/2024/01/pink-wont-save-california-wine

This company controls much of the alcohol industry.
Can a lawsuit and the feds break its grip?
https://www.sfchronicle.com/food/wine/article/southern-glazers-alcohol-18611711.php