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Friday, September 2, 2005


Dire" is the condition in Gulf States
    Welcome New Readers
        Classified Ads---Doc. Mngr./Finance/Legal
Bulletin Board Complaint-
    Ramsgate Leasing Systems, Bergenfield, NJ
Classified-Help Wanted
    Caesar's South Lake Tahoe Sept. 22-25
        Summit Nat. Leasing News Software List
NACM's Credit Manager's Index w/graphs
    CapQuest Moves Manhattan to Westchester
        National Acquires Vernon Technology Solutions
James Investments acquires Enterprise Funding
    CHP Consulting Celebrates 15th Anniversary
        News Briefs---
            You May Have Missed---
                Baseball Poem

######## surrounding the article denotes it is a "press release"

CITIGROUP $3MM plus Employee Matching

"I just wanted you to know that Citigroup will donate $3MM including matching all employee contributions to the American Red Cross to help in the relief efforts from Hurricane Katrina. In addition to these efforts, Citigroup is committed to working with affected customers to alleviate the temporary financial impact of this disaster through extension of grace periods, waiver of fees and other solutions as appropriate."

Ross Guilford
Portland, OR.

"Dire" is the condition in Gulf States

From radio and television reports, along with newspaper in depth stories, it appears it is not only the lack of provisions and safe living conditions such as water, adequate food, and sewage, but looting by those with anger, resentment, who perhaps have lost all, and want to "get even."

It also appears we are worse than a third world country, similar to what happened in Rawanda. Where is government help?

They tell us 40% of the National Guard in Louisiana is in Iraq. We have let these people down in the Gulf States.

We should be doing a lot more. This is the United States, Not a third world country!

Local fire fighter teams sent to the area from the San Francisco Bay Area report on local radio being told to "stand down" as gun shots and shooting are interrupting survivor or other rescue efforts. There is no national guard, and law enforcement is overwhelmed with all the responsibilities they have been given. Even the volunteer rescue teams are being held back in many areas not only due to the looting, but unsafe conditions. Sounds to me that they need some U.S. Nayy riverine units in the area.

We can help, as CIT is doing, and others are hopefully following, to send donations.

Michael Brown, head of the Federal Emergency Management Agency, urged people to make cash contributions to organizations.

Cash donations "allow volunteer agencies to issue cash vouchers to victims so they can meet their needs. Cash donations also allow agencies to avoid the labor-intensive need to store, sort, pack and distribute donated goods. Donated money prevents, too, the prohibitive cost of air or sea transportation that donated goods require."

FEMA listed the following agencies as needing cash to assist hurricane victims:

. American Red Cross, 800-HELP NOW (435-7669) English, 800-257-7575 Spanish.
. Operation Blessing, 800-436-6348.
. America's Second Harvest, 800-344-8070.
. Adventist Community Services, 800-381-7171.
. Catholic Charities, USA, 703-549-1390.
. Christian Disaster Response, 941-956-5183 or 941-551-9554.
. Christian Reformed World Relief Committee, 800-848-5818.
. Church World Service, 800-297-1516.
. Convoy of Hope, 417-823-8998.
. Lutheran Disaster Response, 800-638-3522.
. Mennonite Disaster Service, 717-859-2210.
. Nazarene Disaster Response, 888-256-5886.
. Presbyterian Disaster Assistance, 800-872-3283.
. Salvation Army, 800-SAL-ARMY (725-2769).
. Southern Baptist Convention - Disaster Relief, 800-462-8657, ext. 6440.
. United Methodist Committee on Relief. 800-554-8583.

Donations can be made online to most of these organizations through Network for Good.

You can also go to a Petco Store and donate directly to Hurricane Katrina Emergency "Round Up" Fundraiser for animals. The web site is:

The Salvation Army is asking for donations to their Thrift stores, particularly clothing, shoes, baby and children clothing, toys, and anything you would like to donate. For more information about donating directly to the Hurricane recovery efforts:


Welcome New Readers

While most who read Leasing News go to the web site first, many still join our mailing list. Our goal is to print daily from Monday to Friday, but most often it is only three or four times a week, so when you are on the mailing list, you are informed that the new edition is available.

We go to "press" when we think there is enough equipment leasing news to do so.

Readers on our mailing list also get notices of major events from time to time.

We welcome the new readers and hope you enjoy and find informative Leasing News.



Classified Ads---Documentation Manager / Finance / Legal

Documentation Manager / Finance / Legal

Documentation Manager: New York, NY
10+ years in equipment leasing/secured lending. Skilled in management & training, documentation, policy and procedure development & implementation, portfolio reporting. Strong work ethic.

Documentation Manager: Phoenix, AZ
Lease Administrator with exp. in lease administration, doc. & porfolio management for $200M in IT assets. Additional experience financial analysis process improvement/development.

Finance: Austin, TX.
20+ years all facets of lease/finance. Collection and credit management. Equipment & rolling stock structuring. $150k credit authority, $100 million portfolio management.

Finance: Chicago, IL
Experienced in big ticket origination, syndication, valuation and workout.
Twenty five years, MBA, CPA,
JD, LLM (Tax), structuring specialist. Inbound and outbound transactions.
Transaction Summary

Finance: Orange County, CA
25+ years experience large ticket and mid-market commercial finance. Senior manager in operations, documentation, legal, credit, workouts, portfolio management. $2+Billion portfolio. MBA Finance.
Juris Doctor.

Finance: San Jose, CA.
15+ years sourcing debt, managing cash and receivables and other treasury functions. Strong background in credit, contract
administration and bankruptcy litigation experience.
MBA Finance.

Finance: Toronto
Long diverse career financial services industry. Executed billions of dollars of leases over 20 years; structuring, executing and pricing US/Canadian transactions. Per Diem or full time.
Legal: Los Angeles, CA
Experienced in-house corporate and financial services attorney seeks position as managing or transactional counsel.
Willing to relocate.


For a full listing of all "job wanted" ads, please go to:

To place a free "job wanted" ad, please go to:


Bulletin Board Complaint-

Ramsgate Leasing Systems, Inc., Bergenfield, New Jersey

Heartland Wholesale & Distribution Services signed a proposal
for two 2005 Volvo VNL64T630 on April 4, 2005 with Ramsgate
Leasing System, Inc., Bergenfield, New Jersey.

The lease did not go through, so a new proposal was made with different terms on April 21, 2005, primarily a rate change along with a down payment of $8,900.

A lease was finalized on May 5, 2005 with CIT Financial, arranged by
the submission of Ramsgate Leasing Systems.

Heartland Wholesale & Distribution Services provided a check of $7,971.64 for the first proposal ( with a $275 documentation fee.)

" can see that the funding amount changed from $178,000 to $169,100 (after $8900) down payment to the vendor.) And the amount of this deposit due is $4028.00. When the first payment became due from CIT "...we noticed that these two checks had never been applied to our loan. That is when Ramsgate told us that they kept $11,999.64 for themselves."

Heartland Wholesale & Distribution Services never said they agreed to a commission arrangement or signed a third proposal: "This is ridiculous and we never signed anything allowing them to do this." Ramsgate Leasing Systems was contacted to learn their side
to this complaint:

"Ramsgate Leasing brokered this deal to CIT. We sold the customer a lease with a first payment required of $12,000, and 59 additional payments. The lessee gladly accepted our offer, and the lease commenced, after the lessee signed a CIT document which indicated 59 payments, as laid out clearly in our proposal. We explained to the lessee on three separate occasions that we retained the $12,000 as a fee for the transaction, and on all three occasions, the lessee indicated acceptance of this. Then, once the lease commenced, the lessee called us complaining that the $12,000 had not been applied. If it had not been applied, the CIT docs they signed would have indicated 60 payments, NOT 59.

"The lessee is interested in confirming that Ramsgate did not get paid a commission for this deal - they don't care that they accepted our terms on three separate occasions, and that we delivered to them exactly what we promised and they committed to. All they care about is seeing to it that once they received the financing they so desperately needed, that we did not get paid. They apparently think that we are in business in order to provide finance services for free.

"Mr. Menkin, this is no different than Ramsgate accepting first and last payment from a customer, and then invoicing our lender for the remainder in commission, which is the standard way for deals to be brokered. In this case, we put $12,000 in commissions in the deal for us, collected it from the lessee, and our invoice to CIT for brokering this deal was $0. She would have been just as upset had we collected first and last payment (instead of one larger payment ) up front and invoiced CIT for the difference, since she expects us to them forward her check to whomever is funding the deal. Would she be happier if we cut the check for $12,000 to CIT and then asked CIT to send $12,000 back to us as commission?

"Norm Cohen"

The Heartland Wholesale & Distribution Service states they were told the money would go to CIT as "down, that they specifically did not sign a third proposal or agreed to give this "down money"
to Ramsgate as a "commission."


Ramsgate's response:

"The fact remains that the lessee happily accepted our offer during the first proposal, when we proposed first and last payment in advance, in which situation we were to collect the remainder of our commission from the lender. When that was not possible due to credit concerns, we opted for another method, had the lessee sign another proposal, explained very clearly that the balance of the $12,000 owed would be applied toward the first payment, and that when they signed documents, they would be signing a document that stated 59 payments, since we were retaining the $12,000, and they happily signed that as well.

"Not once during the entire process did we get any complaints until after the transaction funded. They called and asked why the $12,000 was not a down payment to the vendor (which had never been anybody's understanding), and we reiterated very clearly once again exactly what the $12,000 was for, at which point they expressed acceptance once again and hung up. Then, three weeks later, I got yet another phone call asking what the $12,000 was for.

"If it is your position that we are not entitled to keep this money, then it is your position that on every single lease, we are not entitled to keep the advance rentals and bill the lender for the difference either, since, according to you, this would necessitate a separate agreement with the customer. The fact is that our terms were accepted, and because of this, the lessee has their equipment. This is a decision they made at the time, and all they are trying to do at this point is have their cake and eat it too. If this is, in fact, your position as well, then go ahead and print whatever you like, and you will be contacted by our attorneys.

"Norm Cohen"

There was no third proposal or agreement signed by both parties
regarding Ramsgate "earning" a $12,000 commission submitted
by Ramsgate.

It should be noted that the second proposal terms of 59 additional payments matches the CIT Financial terms; however, the proposal specifically calls money a "commitment" fee and that "Upon funding, all funds will be credited toward advancer rentals/up front fees on lease" and do not who that the money is "commission" earned for the transaction. The residual was not noted on the proposal and the CIT document is a "FINANCE" (security agreement) as noted on the face of the document and not a lease as proposed by Ramsgate Leasing.

This is a legitimate complaint to the Leasing News Bulletin Board as there are no signed documents between both parties agreeing to the "use" of the money for the first and second proposal as a "commission" to Ramsgate Leasing System. If such an arrangement had been agreed upon, a third proposal should have been signed by both parties spelling out the specific use of the "deposits" and "commitment" funds.

It is not Leasing News role to state who is "right" or who is "wrong," but to present both sides to the issue and to recognize that it appears to Leasing News that Heartland Wholesale & Distribution has a legitimate complaint with Ramsgate Leasing Systems, Bergenfield, New Jersey.


Classified-Help Wanted

Account Executives

Account Executives

Positions are available for remote Account Executives with 7+ yrs Equipment Leasing Sales exp.  Work directly with CFOs, CIOs, CEOs and other high-level executives. Please send resume indicating where you saw this ad to:

About the Company: At Dell Financial Services, we aspire to fuel your potential with the kind of challenging opportunities and hands-on support you need to grow. We're the exclusive provider of leasing and finance services for Dell technology systems worldwide.

Credit Analyst

Credit Analyst

Campbell, CA. Credit Analyst for middle market commercial/venture leases. Performs financial statement analysis/assesses qualifications w/underwriting criteria. Assists portfolio management. Requires excellent analytical and writing skills. College degree  finance/accounting. Prior exper. financial services industry required.

E-mail resume to:

For more information about Pentech:

Lease Representatives

Baltimore - Washington area
Lease Representative

M&T Bank is seeking an in-market lease representative to develop and maintain relationships with broker/lessors, equipment vendors, and direct lessees throughout Maryland and Northern Virginia. Must be knowledgeable small ticket leasing ($75K average ticket) and third-party lease/loan transactions. Please apply on-line at and view posting #4044.

At M&T Bank, we provide and exciting and challenging work environment where performance and innovative thinking is encouraged at every level. With over 700 branches, your career can travel as far as you take it!

MIS/Business Analyst

MIS/Business Analyst

Campbell, CA. Business Analyst needed to assist Ops Department in production and development of business segment reporting, liquidity management; systems integration. College degree/related experience in financial services industry required.

E-mail resume to:

For more information about Pentech:

National Account Manager

National Account Manager

Position located/based anywhere in the U.S.
3-5 years vendor finance/sales experience
For a full description and how to apply,
click here

Vendor Relationship

Director, Vendor Relationship Development: Office Equipment Group.

Accountable for originating/ maintaining volume from large Office Equipment dealers. Preferred locations - SW and Mid-Atlantic. Full descrip/to Apply, Click here

GreatAmerica is a highly successful entrepreneurial company providing equipment financing to businesses across the United States.



Caesar's South Lake Tahoe September 22-25, 2005

"Caesar's is reporting totally occupied for the dates of our conference. We have a few rooms left if you are told that there is no opportunity to book a room, please contact Kim at UAEL at or
760-564-2227. Also, for transportation concerns from Reno to South Lake Tahoe contact Kim at UAEL.

"We are looking forward to a fun and exciting conference at Caesar's."

Joe Woodley

(Note: For those who don't want to visit San Francisco, it may be easier to fly into Reno, Nevada, and take the hotel shuttle or airport shuttle, less than an hour. Rob Yohe.)

The Chairman for the conference is Randy Haugh from Lease Team, Inc. The event will take place at beautiful Lake Tahoe, Nevada. Our theme for this year is Peak Performance: Peers, Processes, Practices and Profitability. We have a great lineup of sessions, roundtables and panel discussions scheduled on interesting and diverse topics. We also have some good opportunities to network; Thursday night, welcome reception will take place on the deck of the Edgewood Country Club and the other of the events will also feature the exclusive buyout of the M.S. Dixie for the Saturday Sunset Dinner/Dance Cruise.

We are very excited about about two of the speakers we have line up this year. Colonel Tom Schaefer was an Iranian hostage for 444 days in 1979-1980. We also have Mr. Joseph Lane, Chairman of the Equipment Leasing and Finance Fundation, addressing our industriy as our keynote speaker.

Col. Tom Schaefer

Joseph C. Lane
CEO of GE Technology Finance

The view the complete brochure, click here.

If you have not booked your room at Caesars Tahoe for the UEAL Fall Conference and Exposition please do so as soon as possible.

Caesars Lake Tahoe offers unparalleled comfort, luxery and gaming excitement with the great outdoors. A 17-story Y shaped hotel tower with 440 guest rooms and 37 suites. Caesars elegant rooms are accentuated by their beautiful surroundings.

Please call 1.775.588.3515 to make a reservation and don't forget to mention this is for UAEL block.




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.

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."

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.


Company Name
Year Founded

Additional Services
Major Clients
International Decision Systems (f)
Jim Meinem CEO
Charles Lyles President Anthony Laudico Interim COO
IDS President Charles Lyles. "(IDS has signed up)... 50 of the 100 largest lessors in the United States."
Now privately held, previous volume was $35 to $45 million (includes foreign operation of parent in UK, 20% to 25% of gross.) Now owned by Schroeder Investments.
Wells Fargo
Daimler Chrysler Corp.
Shaw Systems
808 Moorefield Park Drive, Suite 210
Richmond, VA 23236
(804) 272-3800
Cyndy Stone
Internet Enabled Applications
Lease Accounting
Consumer Loan Accounting
Commercial Loan Accounting
Loan Tracking
Collections/Customer Service
28 of the top US Banks and 7 top captive automotive finance companies run Shaw applications.

White Clarke North American (e)

Contact Information: Lisa Campbell Marketing Manager
White Clarke North America
150 Ferrand Drive, Suite 1101
Toronto, ON M3C 3E5
Phone: 416 467 1900
Fax: 416 467 9094

Debbie Carroll
Privately held

ADP Credit Corp.
Canadian Remarketing Group,
Fair Isaac & Co.
First National Equipment Finance,
Ford Credit - Europe, Latin America, Asia Pacific, UK,
John Deere Credit,


Apak Group

APAK Group plc, APAK House, Badminton Court, Station Road, Yate, BRISTOL, BS37 5HZ, United Kingdom +44 (0) 1454 871000

Tony Bracey
Wholesale Finance WFSv5 - integrated stock finance and loans administration system. Ecommerce financial proposal systems EPS. Core Banking Software and services.
Union Energy,
MTC Leasing Inc., Finning, Koch Industries, Wittern Group,
Patterson Dental Supply, Inc., Neon,
Cessna Aircraft Corp., NatWest Group Plc, American Express, Bank of Scotland, Toyota Financial Services (UK),

CHP Consulting
1127 Columbus Drive
Stafford, VA. 22554-2030
Year founded 1990


Justin Cooper

Andrew Denton


CHP has been successfully delivering consultancy and systems for the leasing and asset finance industries for fifteen years.  CHP supplies the market leading ALFA Systems.  ALFA systems provide support for the sale, administration and accounting of a wide variety of finance products and channels to market. 

CHP has a 100% project delivery record.

Privately held

Banc of America,
Barclays Bank,
Commonwealth Bank of Australia,
Cooperative Bank,
Dresdner Kleinwort Wasserstein,
GE Capital, HBoS, Hitachi Capital,
ING Lease,
Lloyds TSB,
National Australia Group,
Nissan Finance,
RBS Lombard,
RBS Lombard Vehicle Management,
Société Générale,|
Svenska Handelsbanken

Cyence International (g)
Year Founded 1996
Peter Hyne


Major Clients: Pitney Bowes Global Credit Services, Volvo Commercial Finance, VFC Inc., MTC Leasing Inc., Relational Funding, Comark and others.
Deepak Verma
nFusion - Web-based credit processing
-We don't disclose this
CIT Group,
CitiCapital ,
Textron Financial, Ryder System, XTRALease, Xerox
McCue Systems

John McCue
LeasePak Lease/Loan Management System / Lease enterprise consulting / System implementation, integration, and training / Customized development
KeyBank / Volkswagen Credit / ORIX AUS / BancOne / MC Leasing / Bank of Tokyo - Mitsubishi

Leaseteam (a)
1989 (January)

Russ Hallberg, President
Randy Haug, Senior Vice President
* 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)
$10 million

300 clients through US and Canada

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

Capital Stream (b)
Kevin Riegelsberger
360 Customers/ 40 Customer Subscribers
Bank of America,
Simens Financial Services,
Textron Financial
Karen Wendel
Mike Grossman
LiveCapital Solution for Lease Origination
Siemens, Waste Management, US Steel, Kubota Tractor, PC Connection
Vision Commerce (c)
Steve Lundergan
Hitachi Credit America All Points Capital Firerock Capital
Thalman Financial Services BSBLeasing/Procure Financial Services
Dominion Leasing Software (d)
Lease Complete©

P.O. Box 550, Powhatan, VA 23139
Founded 2003
Clinton B. Dunlow, President & C.E.O.
Please read Note E, below for information about LeaseComlete.
Privately held
Diverse client group including commercial banks, credit unions, and independent leasing companies.

Better Programs

Chad W. Russell Vice President
Better Programs, Inc.
5852 West Pacific Circle
Denver, CO 80227
Phone: 303 986 1969
Fax: 303 674 6767

Charles R. Oleson
Preferred Business Solutions
Jim Buckles
Support and Sales of Advantage (upgrade from System 1 (2.5) program). Support and sales of alaQuote, web based lease payment calculator, quote and on-line application tool. Custom report writing, template creation & web development.
25 - 30 new clients
Cornerstone Software
Integrated Financial Services
Ivory Consulting
Odessa Technology
Summit National (h)
Systems for FinancialAccounting
UCC Direct

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.

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:

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
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.

One of the cofounders, John Kruse, resigned January 1, 2003.

They "integrated" with Ivory Consulting Partners in early March.

(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.

(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
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.


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

(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.

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.



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

NACM's Credit Manager's Index (CMI) for August 2005: Bankruptcies,
More Receivables Beyond Terms Have Impact

Columbia, MD: -The National Association of Credit Management (NACM) Credit Manager's Index (CMI) for August 2005 finished at 54.7 percent, down 200 basis points from July 2005. Although there were many factors that contributed to the overall two percent decline, higher levels of receivables beyond terms and bankruptcies had significant impact.

The manufacturing sector finished August at its lowest level since the beginning of the year. The decline was found in nine of the ten factors. Only new credit applications exhibited positive growth, increasing 390 basis points, to end at 62.2 percent. Four of the ten factors finished slightly below the 50 percent level, indicating some erosion.

The service sector remained virtually unchanged for August, dropping a mere 10 basis points. Economic expansion was found in all four of the favorable factors, with the amount of credit extended increasing 460 basis points. Among the unfavorable factors, only one-dollar amount beyond terms-dropped below the 50 percent mark.

The CMI, a monthly survey of the business economy from the standpoint of commercial credit and collections, was launched in January 2003 to provide financial analysts with another strong economic indicator.

The CMI survey asks credit managers to rate favorable and unfavorable factors in their monthly business cycle. Favorable factors include sales, new credit applications, dollar collections and amount of credit extended. Unfavorable factors include rejections of credit applications, accounts placed for collections, dollar amounts of receivables beyond terms and filings for bankruptcies.

A complete index including results from the manufacturing and service sectors, along with the methodology, is attached. A complete view of the index can be viewed online at

The National Association of Credit Management (NACM), headquartered in Columbia, Maryland supports more than 25,000 business credit and financial professionals worldwide with premier industry services, tools and information. NACM and its network of Affiliated Associations are the leading resource for credit and financial management information and education, delivering products and services which improve the management of business credit and accounts receivable. NACM's collective voice has influenced legislative results concerning commercial business and trade credit to our nation's policy makers for more than 100 years, and continues to play an active part in legislative issues pertaining to business credit and corporate bankruptcy.


Norma Heim, NACM


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

CapQuest Moves from Manhattan to Westchester County

Westchester, NY-- CapQuest Group, LLC is pleased to announce its expansion plans as it successfully completes its third year in business and relocates its headquarters from Manhattan to Westchester County, New York.

The company seeks to selectively expand its sales force, and develop strategic relationships, with intelligent, honest individuals who take a consultative approach to generating business. The ideal individual will have strong origination capability and the ability to develop new opportunities by taking advantage of the expanded menu of financing products that CapQuest Group has to offer in addition to equipment leasing, including commercial real estate loans, working capital loans, factoring, SBA loans and franchise financing.

Stanley S. Fishbein

Stanley S. Fishbein, Founder and President of CapQuest Group, LLC, has 25 years of experience in the commercial finance industry where he has held syndication positions with industry leaders including Integrated Resources, Inc., Chrysler Capital Corporation and Textron Financial Corporation.

CapQuest Group, LLC is a network of banks, institutional lenders and specialty finance companies dedicated to serving the capital financing needs of private companies and nonprofits. More information is available on the company's web site at

Contact Information

Stanley S. Fishbein
Tel: 914-613-8454


National Leasing Acquires Vernon Technology Solutions

Winnipeg, MB Canada - National Leasing is pleased to announce the acquisition of the Canadian operations of Vernon Technology Solutions.

Established in 1984, Vernon Technology Solutions is a full-service, multi-location provider of short-term rental and long-term leasing of computer equipment, including desktop and laptop PCs, peripherals, high-end workstations, servers and other related computer equipment.

"This acquisition provides numerous benefits." Said Nick Logan, President and CEO of National Leasing. "They have a strong reputation in the computer rental industry with a number of blue chip customers, and an extensive network in place to disperse large volumes of equipment - a service our customers are requesting."

"Finding talented sales people with technology expertise and an understanding of lease financing is difficult," added Michael Dubowec, National Leasing's Senior Vice President of Sales & Marketing. "With Vernon's seasoned sales force and technical support, we become top to bottom experts in the computer industry which is fundamental to our success in financing these products."

Established over 30 years ago, National Leasing provides innovative and flexible equipment financing solutions to businesses and organization seeking a competitive advantage. It has been named one of Canada's 50 Best Managed Private Companies for eleven consecutive years, and more recently became a member of the exclusive Platinum Club. National Leasing is a recognized leader in equipment financing in virtually every business sector. The company supplies financing products through 400 sales people across Canada servicing 50,000 businesses.

Vernon Technology Solutions will operate as a wholly owned subsidiary of National Leasing.

For more information, please contact:

Estelle Rochon Fraser
Vice President, Business Development
National Leasing
Phone: (204) 954-9027
Toll Free: 1-800-665-1326 ext. 027

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

James Investments acquires Enterprise Funding

Enterprise Funding Group, LLC, Grand Rapids, Michigan, has been acquired by James Investments, LLC. The acquisition was designed to enable Enterprise to significantly expand its operations in order to meet the needs of its recent growth. Enterprise Funding Group, a leading source of financing for small- and medium-sized companies, and James Investments, a private venture capital firm, share a common vision of the attractive opportunities in the small-ticket leasing market.

"Enterprise Funding Group has built a strong business over the last 10 years, and has been growing steadily. The relationship with James Investments will enable us to undertake a number of new initiatives and expand our business at a significantly faster pace," said Mike Coon, Senior Vice President of Enterprise. "We have worked with the people at James Investments over the past several years, and we've found them to be good partners, creative and helpful. We are very excited about this opportunity."

"This is a unique opportunity for us to become involved with a solid company in an exciting industry. It dovetails nicely with our experience, and I think we can be very helpful to Enterprise as it grows in the future," said Fred Croft, the Manager of James Investments. Mr. Croft will become the Chief Executive Officer of Enterprise.

About Enterprise Funding Group

Enterprise Funding Group, founded in 1996, is an equipment finance company that provides lending and leasing services to small and medium sized businesses across the country. Its primary focus is on income-producing capital equipment in the construction, manufacturing, healthcare and selected service industries.
The company's website is

About James Investments

James Investments, based in Grand Haven, Michigan, is a privately held venture capital firm. It couples hands-on participation in management with equity investments in small and rapidly growing companies. James Investments concentrates on the financial services, healthcare and IT markets.

Mike Coon
Sr. Vice President
PH: 866-774-5050
Fax: 616-774-8740

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

CHP Consulting Celebrates 15th Anniversary with Major Business Milestone,
New Customers and New Global Office Locations

LONDON,- CHP Consulting Ltd., the leading provider of business process management software and consulting services to the global asset finance industry, today announced that its ALFA Systems technology platform is now used by customers to finance more than 5 million assets, worth an estimated $100 billion.

This significant business milestone was reached as CHP celebrates its 15th anniversary. More than 40 leading banks, equipment manufacturers and independent leasing companies in the United Kingdom, Europe and Australia currently use ALFA Systems to automate their end-to-end lending applications. Investec, one of the largest banks in South Africa, was added to the CHP client list in late July.

CHP also marked its anniversary with the official opening of a new office in Sydney, Australia, to house the firm's growing Australian operation and support the ALFA implementation at the Commonwealth Bank of Australia. More than 30 sales, project management and technical support staff are located there. In addition, CHP is building a growing presence in North America to support U.S. and Canadian clients. The company recently established an initial presence in Chicago, Ill., a central location for servicing both countries.

"We are very pleased with the growth of the company since its inception 15 years ago and want to thank our clients for their support and confidence," said CHP Director Andrew Denton. "Our successes in Australia and growing presence in North America illustrate the strong demand for a complete asset finance solution. Financial organizations have become frustrated with piecing together point solutions. They're looking for a comprehensive alternative that can handle their requirements and grow with them. "

ALFA Systems offers multi-product lease to loan capabilities, plus an end-to-end system that meets the entire asset and agreement lifecycle. This improves the efficiency of the asset finance process, enabling CHP clients to conduct more business than ever before with lower costs, while managing their customer relationships more effectively.

About CHP Consulting

CHP Consulting has been delivering system solutions to the leasing and asset finance industry since 1990. With more than 140 employees worldwide, CHP has great expertise in the industry and a 100 percent on-time and on-budget delivery record. Its flagship product, ALFA Systems, provides dedicated support for equipment finance, consumer finance, asset management, vehicle finance and structured finance. It is used by clients in the United Kingdom, Europe and Australia. These include RBS Lombard, HSBC, Nissan Finance, Lloyds TSB, Royal Bank of Scotland, Société Générale, ING Lease, Investec and Commonwealth Bank of Australia. For more information, visit

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

News Briefs----

Rescuers 'had to push the bodies back with sticks'

New Orleans in Anarchy With Fights, Rapes

Local Officials Criticize Federal Government Over Response

A City of Despair and Lawlessness

Economic fallout will be massive


You May Have Missed

New Orleans - The Natural History"

Artist / Source A Film by Walter Williams

Copyright 2003

File Name


Baseball Poem


- from: Songs Of The Out-o'-doors

If you've never sat in the blazing sun
and prayed the gods for another run,
If you're not clean daft till the season's done
and the talk of the game is through,
If you've never joined in the bleachers' roar
at a double play or a daring score,
Don't listen to this a minute more,
this ballad is not for you!

But if the sound of the ball that's hit
or the thump of a strike in the catcher's mitt,
And the umpire's voice and the coacher's wit
are spells that hold you sure,
If you're one of the faithful, cheering throng
that follows the fate of the team along
Maybe you'll join in the swinging song,
the song of the baseball lure!

Chuck-full of glamour,
Tumult and clamor,
Sparkling with vigor and zipping with zest.
Gingery, tangy,
Flippant, and slangy,
Brimful of action and banter and jest.
Sport of the multitude--held by its joys again,
Steadiest of people are nothing but boys again!

In every city or country spot,
in every corner or vacant lot,
In any old weather, cool or hot,
from earliest spring to fall,
The young and lively, old and gray
are there to join or watch the play,
The game that wields its royal sway
and keeps the land in thrall.

And if you're watching the players sweat,
down on the field where the scene is set,
You feel its ,magic and you forget your age
and your sense as well,
For the game--it turns your face to tan,
it makes a boy of the oldest man,
It turns the sane to a crazy fan
with nothing to do but yell!

Calling for muscle,
Hurry, and hustle,
Baseball's a tussle that's vivid with vim,
Heated but happy,
Peaceful but scrappy,
Evermore snappy and nevermore grim!
Sport of the multitude--every one's wild again,
Every true fan is as young as a child again.

Oh, the silence tense and the hush of doubt
with the bases full and two men out,
And the clean, sharp hit, and the rooters' shout
as the runners cross the plate,
Or the long-drawn "Ah!" as the ball soars high
and the fielder shields his sun dazed eye
And waits and gathers the falling fly
as certain and as sure as fate,

Oh, the jeers, the cheers, an the throbbing thrill,
the batter's might and the pitcher's skill.
The crowd that never is wholly still
but shouting its joy or woe,
These are the things that fan the flame,
that lend their wonder to the game,
That make it glorious in its fame.
the king of all games we know!

Free of the grafter,
Lighted with laughter,
Full of the spirit of never say die!
Action is in it!
Every sharp minute,
Something is doing to capture the eye!
Then--and the reason can never be hid again--
Best of it is--that it makes you a kid again!

Published in: The Popular Magazine - April 7, 1912


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- R.W. Professional Cannot Suppress Evidence
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- Bill Hanson-Conrad & Associates/CMC Up-Date
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- NorVergence Settlements Being Accepted Breaking Record Numbers
- Alexa Ranks Leasing Association Web Site
- PinnFund money raiser pleads guilty to wire fraud
- "Funders Only" List
- Baby Boomers Affect Employment
- Gordon R. Roberts Convicted of Theft
- FTC Wins $47 MM NorVergence Lease Judgement
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- Jury Waiver Ruling in California
- ELA Report-Leasing Popular Statistics
- One World Leasing New Officers/Board Members
- Super Brokers' List
- Leasing Schools/Franchisors
- Unicyn Team Signs Major League Hitters
- Our "On Line" Anniversary
- Story Credit Lessors' List
- Tipping for Wine
- CIT to cut 200 jobs in North America
- Latin America's Top 100 Leasing Companies
- The List is Up-dated
- Commercial Money Center Latest News
- Leasing Association Meetings Open to Non-Members
- Leasing Association Conferences-Fall, 2005
- W.R. Johnnie Johnson, CLP in Kuwait
- Streamline Sales Tax Changes as of October 1, 2006
- To Fax or Not to Fax
- Leaseurope Ranking : Top European Leasing Companies
- Leasing in the Ukraine--Bob Teichman
- FBI Investigating DVI Officers
- EFG Gets Hit for 300 Lap tops
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- Summit National Files Chapter 11 Bankruptcy
- LeaseNOW Releases RAPIDTrack
- Lease Securitization: New challenges for issues
- "Cash Flow is King" Placard
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- 11 Lessors in the rough on Golf Cart Leases
- Tommy Larsen Passed Away in Jail
- Preferred Capital, Brecksville, Ohio
- CapitalWerks Alabama Jury $9M Award Tossed Out
- Karl Probst at Radiance Capital
- New Classified Section---Legal Expert
- Kit's New Office
- Lease Broker Arrested Again
- Alert--Sale/Leaseback as New Equipment
- Stress Relief
- $1.6M Nigerian Scam-Penske Leasing
- Lease Administrators UCC Warnings to Lessees
- 8 Simple Ways to Control Stress!
- California License Web Addresses / Loan/Lease Broker Statutes
- Nigeria eMail