nefassociation.org sector overviews€¦ · it's not all about the benjamins cash may be king...

Equipment Finance Sector Issue | MayJun 2018

SECTOR OVERVIEWS ndashA Closer Look

Its Not All About the Benjamins

Human Interest - Paying it Forward

nefassociationorg

Also inside

National Equipment Finance Association

mdashmdashMarkMark Mark Your CalendarsYour Calendarsmdashmdashmdash

Funding Symposium October 3-5 2018

Start the conversation with

NEFAFundingSymposium

wwwNEFAssociationorgevent18Symposium

Great Fun

Great City

Great Meeting

Charlotte Marriott City Center Charlotte North Carolina

MayJun 2018 NEWSLINE 1


MayJun 2018Volume 10 Number 3

FEATURES16 ADAPTATION KING OF THE EVOLVING MACHINE TOOL INDUSTRY Few industries have felt the disruptive forces of emerging technology as acutely as the machine tool sector as automation robotics and artificial intelligence have revolutionized the way products are designed and manufactured However machine tools are still an extremely important equipment class for equipment lessors By Grant Finch

18COMMERCIAL SPECIALTY VEHICLE FINANCING REQUIRES CUSTOM TAILORED SOLUTIONSFinancing specialty vehicles can be a profitable niche for those willing to put in the time and attention to satisfy a diverse but unique customer base As Hanmi Bankrsquos David Normandin explains tapping into this growth market starts with establishing a knowledgeable and skillful team By David Normandin

20HIDDEN IN PLAIN SIGHT DISCOVERING THE VALUE OF SOFTWARE FINANCINGFew entrepreneurs today are aloof to the revolutionary power of technology to transform nearly every aspect of their enterprise Yet software is the invisible engine behind that transformation and remains an untapped market for the equipment financing industryBy Richard Hickmon

22THE CONSTRUCTION MARKET BUILDING ON ECONOMIC MOMENTUMFinancing construction equipment dates back to the earliest days of the equipment finance industry In this Newsline QampA Josh Rothman of North Mill Equipment Finance provides his views of this sector from the perspective of a broker-funding source

2 NEWSLINE MayJun 2018

20

ALSO INSIDE3 From NEFArsquos President

4 From NEFArsquos Executive Director

5 In the Newshellip

14-15 NEFA Pictorial

24 neFACTS

18

NEFA Newsline copy2018 is published bi-monthly by the National Equipment Finance Association All rights reserved The opinions and views expressed in this publication including all editorial and advertising content are not those of the National Equipment Finance Association andor Equipment Finance Advisor Inc Reproduction duplication or redistribution in whole or in part is not permitted without express written permission of the National Equipment Finance Association and Equipment Finance Advisor Inc

NEFA HeadquartersPO Box 69Northbrook IL 60065-00698473805050 Main8473805055 FaxwwwNEFAssociationorginfoNEFAssociationorg

NEFA Executive Director amp CEOGerry Egan8473805052geganNEFAssociationorg

NEFA Senior Association CoordinatorKim King8473805053kkingNEFAssociationorg

Newsline Design amp ProductionEquipment Finance Advisor Incdba Advisor Publishing Group975 Mill Road Suite GBryn Mawr PA 19010

Editor-in-ChiefMichael Toglia4843803184mtogliaadvisorpubscom

Associate Editor Chris Moraff484-380-2964cmoraffadvisorpubscom

Director of Sales amp MarketingDenise Finegan4843802968dfineganadvisorpubscom

Design amp Production Eliza Whitney wwwelizawhitneycom

DEPARTMENTS25 BUSINESS INSIGHTS

Its Not ALL About the BenjaminsCash may be King but it isnt the only member of the well-rounded court of variables that goes into finding an acquirer for your successful equipment finance business James Jackson of The Alta Group explains that there are other factors you should consider when seeking the right buyerBy James Jackson

27 HUMAN INTERESTPaying it Forward Inspirationally Helping Domestic Abuse Victims Boston Financial amp Equity Corporationrsquos Lovern Gordon describes her personal mission to raise awareness around the issue of domestic violence in the US By Lovern Gordon

22

16


A Message from NEFArsquos President

Greetings Members

Hopefully by the time this letter is published spring has actually sprung for all of you Springtime was slow to get here in the Mid-west for sure Old Man Winter refused to turn the season over to milder weather

But as cold as itrsquos been here this spring the National Equipment Finance Summit held recently in Las Vegas was sure hot with an energetic and enthusiastic group of attend-ees A record turnout of 327 of best-in-class industry professionals attended the annual conference with 47 exhibitors and a full offer-ing of informative educational sessions Tina Cawthorn of Orange Commercial Credit did an excellent job as conference chair and as always the NEFA staff - Kim King Jamie Egan and Gerry Egan - produced a flawless event All this hard work and preparation did not go unnoticed and is greatly appreciated by all

Included in the record attendance were 97 first-time attendees This is exciting to me as this number clearly demonstrates the visibil-ity growth potential and demonstrated value of NEFA to the equipment finance indus-try But it also represents a challenge and an opportunity I spoke to most all of the first-time attendees and there was no doubt they ldquogot itrdquo The culture energy comradery and educational and networking opportunities were truly recognized and valued by these folks However these new members need to be welcomed and assimilated into the Associa-tion I highly encourage our long time legacy members to be ambassadors to these newcom-

ers to help them feel welcomed and get the most of what NEFA has to offer Itrsquos easy to get lost in the shuffle and be overwhelmed by the conferences and then lose the con-nection to the Asso-ciation once they get home NEFA provides many resources that encourage ongoing involvement and engage-ment between conferences New members should visit the NEFA website and get famil-iar with the ways they can maximize their membership Also new members can always reach out to other members with questions and to further network I also encourage new members to join a committee Committees offer unique opportunities to learn about the Association and share knowledge and expe-rience

Lastly I wanted to put in a plug for the Balti-more Crab Feast which will be held this year on June 14th This is always a great event and a way to keep in touch with your colleagues during the summertime

So get registered today for this tasty event

Mike Coon NEFA President

EXECUTIVE COMMITTEE

presidentMIKE COONAMUR EQUIPMENT FINANCE

vice presidentMARC KEEPMAN CLFPKLC FINANCIAL INC

treasurerDENNIS DRESSLERDRESSLER amp PETERS LLC

secretaryDARYN LECY CLFPSTEARNS BANK

immediate past presidentSTEPHANIE HALL CLFPBLACKRIVER BUSINESS CAPITAL

board of directors

ADAM PETERSON CHANNEL PARTNERS CAPITAL

ERIC ALLEY LEASETEAM INC

GUY SELINKA CLFP STREAMLINE FINANCIAL

JAMES JACKSON THE ALTA GROUP

JOE LEONARD CLFP OAKMONT CAPITAL SERVICES

KRISTIAN DOLAN CLFP TAMARACK

LAURA CARINI CLFP FINANCIAL PACIFIC LEASING INC

SCOTT LIPKA CLFP BENEFICIAL EQUIPMENT FINANCE CORP

2018 BOARD OF DIRECTORS


A Message from NEFArsquos Executive Director

Irsquom finally getting caught up on things and back on track after a vacation and a cross country RV trip following NEFArsquos very successful Finance Summit in Las Vegas in March of this year What a great and satisfying expe-rience it was in one of the coun-tryrsquos most exciting cities A record number of NEFA members were in attendance - networking and learning together

Old-timers and first-timers alike met with an eager group of exhibitors presenting the industryrsquos leading tools and funding services they took in a full line-up of on-target breakout sessions and everyone seemed to thoroughly enjoy socializing together If I had to describe the crowd in just three words Irsquod simply say positive positive positive

On our cross-country drive home one of the most inter-esting things we did was to travel across Texas the largest of the contiguous US states We avoided using the Inter-state Highways crossing the entire state from Farwell on the New Mexico State Line in the lower part of the Texas panhandle until we entered Louisiana in Logansport via US Highway 84 some 530 miles later We included stops in Lubbock Abilene Waco and numerous smaller towns along the way taking a bit over five days in all Between local Texans and fellow travelers we met a diverse - and very interesting - group of very nice people and we got to see some incredible sights up close and personal - includ-ing cows and oil wells

One of the things that was particularly noteworthy to me was how much the drive was like a NEFA meeting Now stay with me a minute let me explain what I mean

From the comfort of our homes our regular lives (our bubbles) we can get a clear and dramatic lsquopicturersquo of the country from the national news and things we see online But when you - literally and figuratively - get off the main roads that lsquopicturersquo can change dramatically Itrsquos fre-quently much more positive and friendly than it seems from afar And you learn a lot more

NEFA conferences are like that too I always come away from them feeling more positive and better about things in the business than I do when I just read the news and the business statistics NEFA members are a friendly accessi-ble and relentlessly positive bunch Few NEFA member firms have a full-time economics department What they have is a real-world street-level sense of how things are going for them and their customers and what they them-selves need to do about it Therersquos no gloom and doom They donrsquot overthink things They do things If those things donrsquot work out they just adapt and do different things Theyrsquore very refreshing to be around

If yoursquove not experienced it and yoursquod like to - and you really should - put October 3-5 on your calendar and plan on joining us for our fall conference The Funding Sympo-sium which is in Charlotte NC this year Itrsquos practical itrsquos positive and I promise you yoursquoll find it productive Look for details on our website coming soon Come on get off the main roads for a bit and see what things are really like

Gerry EganNEFA Executive Director amp CEO

in the NEWS



PERSONNEL ANNOUNCEMENTS

Great American Insurance Group Names Schneider as Divisional SVP

Great American Insurance Group announced Ken W Schneider has been promoted to Divi-

sional Senior Vice President of its Specialty Equipment Services Division In this role Schneider will continue to oversee the divisionrsquos underwriting product development and manage-ment direct sales account management and agency distribu-tion functions He began his career with Great American in 1999 and has been a key leader within Specialty Equipment Services since the divisionrsquos inception in 2009 He has over 30 years of insurance industry experience

LEAF Promotes Speranza to SVP Chief Marketing OfficerLEAF Commercial Capital Inc a subsidiary of Peoplersquos United Bank NA announced the promotion of Michelle Speranza to Senior Vice President Chief Marketing Officer

Speranza will be responsible for strategic marketing and brand-ing as well as for ensuring close alignment between marketing and sales functions She will continue to lead LEAFrsquos market-ing department where she previously served as Vice President

ldquoOver the course of her 12-year career at LEAF Michelle has demonstrated a deep grasp of our business as well as an extraordinary talent for creative problem solvingrdquo said Crit DeMent LEAF Chairman and CEO ldquoShersquos an indispensable part of our organization and wersquore very pleased to welcome her onboard our executive leadership teamrdquo

In her new role Speranza will guide LEAFrsquos accelerating expansion into the small business finance space in addition to working with the rest of the execu-tive leadership team to develop LEAFrsquos broader strategic plan She will also lead the charge as LEAF continues to integrate advanced marketing and sales automation technologies into day-to-day operations

Banking Exec to Lead Sales Team at Madison CapitalTravis Teal has joined Madison Capital as Vice President and National Sales Manager to lead the sales team and fos-ter a business culture consistent with the companyrsquos successful 40-year track record and its future growth plans The appointment was announced by Madi-son Capitalrsquos President Nancy Pistorio

who said Teal is a great addition to the leadership team because of his considerable experience in banking and sales manage-ment as well as his proven leadership success in previous posi-tions Teal most recently served as Vice President and Business Banking Sales Manager at Bay Bank FSB and before that he held leadership positions at SunTrust Bank in the Baltimore area where Madison has its headquarters

In his new role Teal will provide coaching and training to Madisonrsquos sales team which serves customers representing companies of all sizes and in many industry and business sec-tors nationwide mdash ranging from construction medical and transportation to retail landscaping and amusement busi-nesses Teal also plans to get involved in the equipment leas-ing and finance industry in programs and groups designed to introduce equipment financing careers to the next generation

American Lease Insurance Names Keane as Business Development ManagerAmerican Lease Insurance (ALI) has appointed Wally Keane as Business Development Manager Responsible for developing and nurturing new business relationships Keane is returning to a role he occupied last in 2009 Keane has more than 30 years of experience in finance and sales including building a client roster for ALI and cultivating accounts for a national

Transaction Profile

Lease Structures $100 out FMV First Amendment Lease Lines of Credit

Transaction Size $250000 - $50000000

Lease Term 24 - 60 months

VFI will provide progress funding and servicing

Financial Package Requirements

Audited Statements for the past three years (reviewed statements are acceptable if the audit is not available)

Current interim statements with prior year comparable

Three year minimum time in business

$15 million annual revenue minimum

Areas of Emphasis Cash Flow Debt Service Coverage Pending Debt Maturities and General Liquidity

Leaders in Middle Market Leasing

Contact Information

Richard HickmonVP Intermediary Relations

o 801-438-0722rhickmonvfinet

A true direct lending source ready to quickly respond to your needs We provide quick in-house approvals with industry leading response time

We look forward to serving the needs of your customers


in the NEWS

National Equipment Finance Associationsoftware corporation as well as regional financial and automo-tive organizations

ldquoWersquore very pleased to welcome Wally back to ALI his knowl-edge of financial products the needs of corporate clients and the ALI Program makes him a key asset to our company and our continued growthrdquo ALI President Steve Dinkelaker said

CG Commercial Finance Adds Thompson as EVP GMCG Commercial Finance hired Micah Thompson to manage its middle-market affiliate sales channel The group provides equipment financing solutions to middle-market corporations through lessor and other affiliate channels Thompson brings more than 25 years of experience building equipment financ-ing origination channels in the US and abroad The company anticipates the growth in this channel will have an immediate impact on originations and balance-sheet growth

Prior to joining CG Thompson served as Director ndash Fund Originations at SQN Capital Management LLC He has also held senior roles with Siemens Financial Services Heller Financial and Five Arrows Leasing Group

ldquoWe are extremely pleased to have someone with Micahrsquos back-ground and skillset join the leadership team He has a strong

track record of success developing third-party channels and will immediately enhance the growth in our middle-market Small and Medium Business (SMB) initiativerdquo said W Scott McCullum President of CG

Former Ameriprise Technology VP Joins LeaseQ as CTOLeaseQ added former Ameriprise Financial Vice President of Investments Technology Jamshed Khan as its first Chief Technology Officer With more than 20 years of experience in financial services technology Khan will lead LeaseQrsquos devel-opment team and further expand the companyrsquos marketplace platform to serve commercial equipment borrowers vendors and lenders

ldquoWe are on track to reach $100 million in funded volume in 2018 bringing never-before-seen automation to the equip-ment finance industry Jamshedrsquos experience turning technol-ogy visions into reality in the financial services industry will help us scale our platform and take our users to the next level of automation and servicerdquo said Vernon Tirey Co-founder and CEO of LeaseQ

Pawnee Leasing Adds Regional Business Development ManagerPawnee Leasing Corporation named Dana Freeman as an additional Business Development Manager

Freeman will be responsible for enhancing the companyrsquos development and expansion of originations with its existing and new broker partners primarily in the companyrsquos eastern territory He previously had a similar role for Pawnee from 2000 to 2006 and remained engaged in the equipment finance industry since 2007 in technology development for smaller brokers and lessors

ldquoDanarsquos talent and abilities in relationship development will further strengthen our successful business development team which achieved record originations in 2017 and will help pro-pel Pawneersquos next stage of growth in 2018rdquo said Gary Souv-erein Pawneersquos President

Key EF Strengthens Vendor Team with Strategic Hire PromotionsKey Equipment Finance announced the addition of one new member to the companyrsquos commercial vendor finance team and the promotion of two The growth and strategic positioning of the Key Equipment Finance team will help vendor partners increase efficiencies and enhance overall profitability by incor-porating a solution-based approach to equipment financing

David Lempko has been promoted to Senior Vice President Strategic Growth Accounts for the technology segment Lempko was named Senior Vice President and Middle Market Sales Director at Key Equipment Finance in 2017 shortly after KeyCorp acquired First Niagara where he served as President of the equipment finance division In his new role Lempko will lead origination of new business and relationship manage-ment for strategic programs with significant growth potential in Key Equipment Financersquos technology finance segment

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Shawn Arnone has also been promoted to Senior Vice Pres-ident Major Accounts for the technology segment Having previously served as Vice President Wholesale Sales Leader for the technology team Arnone was responsible for overseeing all department activities with established vendor programs In his new position he will lead the origination of new business and relationship management for programs with major technology providers

Doug Nielsen has joined Key Equipment Finance as Senior Vice President of Business Development for the companyrsquos vendor finance team In this role Nielsen will be responsible for leading vendor business development and program man-agement which includes setting strategic direction and man-aging five business development sales executives for both Key Equipment Finance and Key Government Finance Nielsen has 30 years of experience in senior management business development and sales within the equipment finance industry

ldquoVendor finance is a critical component of Key Equipment Financersquos overall business strategy and we have been method-ical in selecting a team that can most effectively deliver our products and solutions to current and prospective clients in this marketrdquo said Loren Hill Senior Vice President Commer-cial Vendor Key Equipment Finance ldquoAll three individuals have demonstrated extreme success in a variety of financial services positions and we have developed an entire business strategy around enhancing the value we bring to our clientsrdquo

36th Street Capital Appoints Slagle as VP of Originations36th Street Capital Partners LLC announced the appointment of Marci Slagle as Vice President of Originations The addition of Slagle increases 36th Street Capitalrsquos originations capabili-ties and further expands its sales coverage model She will be based in Salt Lake City UT and report to Mark Horan Chief Growth Officer for the company

Slagle joins 36th Street Capital having over 23 years of expe-rience in the leasing industry and brings with her an exten-sive background in finance marketing and sales As an active contributor to the industry and various industry associations she serves as President for the Certified Lease and Finance Pro-fessional Foundation (CLFP) as Board Member of the ELFA Middle Market Steering Committee and on the Membership Committee for the ELFA She has also served on numerous committees for the ELFA NEFA and NAELB

ldquoWersquore very excited to have someone of Marcirsquos caliber join us to help grow our indirect originations channelrdquo Horan said ldquoMarci has extensive equipment financing experience having spent the better part of career originating storied credit trans-actions in partnership with a variety of referral partners Her addition is an important step in our goal to be the funding source of choice for transactions requiring an alternative cap-ital solutionrdquo

Helping You get tHere greatamerica

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in the NEWS



Key EF Names Turner EVP Head of Originations Business Processing TeamsKey Equipment Finance named Philip Turner Executive Vice President and Head of Originations Business Processing Teams In this role Turner will lead the teams responsible for client experience program development and originations risk and controls for the companyrsquos bank channel commercial vendor government finance capital markets and specialty finance units

ldquoPhil brings to this position more than 30 years of strategic lead-ership and credit management experience across a wide variety of sectors geographies and banking and finance modelsrdquo said Adam D Warner President of Key Equipment Finance ldquoIrsquom excited to welcome Phil back on our team and I look forward to working with him as he leads the onboarding of all relation-ships and transactions for Key Equipment Financerdquo

Previously Turner was Executive Vice President Senior Group Credit Executive of community banking commercial credit for KeyBank which followed a position as Executive Vice Presi-dent Group Credit Executive Key Equipment Finance which he joined in 2009 Prior to joining Key Turner held senior roles at CIT and Barclays including a number of international roles in the United Kingdom Middle East and Africa

INDUSTRY NEWS

LeaseTeam Honored for Excellence in InnovationThe Greater Omaha Chamber a business association dedicated to advancing the interests of entrepreneurs recognized Lease-Team Inc (LTi) as a recipient of the 2018 Business Excellence Award in Innovation at its private VIP Reception Award nom-inees were evaluated based on company history and milestones in growth as well as leadership philosophy and philanthropic involvement

Founded in 1989 by Russ Hallberg and Randy Haug LTi is headquartered in Omaha NE with an additional office in Kansas City remote employees nationwide and an emerging presence in the UK Having launched the first Windows-based application in the equipment finance industry in 1992 LTi later merged the best of both functionalities from its legacy front-end and back-end solutions into a single highly configu-rable lease and loan management platform known as ASPIRE

President Jeff Van Slyke credits the companyrsquos success to its service-oriented approach to innovation

ldquoAt LTi wersquore deeply invested in our employees and customers to ensure their voices are heard as we drive our business into the futurerdquo he said ldquoOur products and services are complex which is why we never stop searching for innovative solutions in the equipment finance industry and beyondrdquo

The partially employee-owned Microsoft Gold Certified Part-ner recorded a three-year sales growth of 65 in 2017 earning a spot on the Inc 5000 List as one of Americarsquos fastest-grow-ing companies for the third year in a row In doing so LTi has carved out a significant share of the equipment finance market currently serving 36 of the Monitor 100 34 of the Monitor Bank 50 and 64 of the Monitor Top 25 Private Independents

ldquoItrsquos an honor to be recognized by the Greater Omaha Cham-ber for our achievementsrdquo said Haug Co-founder and Exec-utive Vice President ldquoWersquore growing now more than ever before and itrsquos all taken place under the same executive man-agement group that built the company from the ground up Our people-first culture will continue to fuel innovation and growth for years to comerdquo

Ascentium Capital Surpasses $4B in Origination VolumeAscentium Capital LLC announced surpassing $4 billion in origination volume since the companyrsquos founding in August 2011

ldquoOur award-winning finance platform elevated levels of effi-ciencies and our personalized service continue to drive demand for our financial products We look forward with great confi-dencerdquo said Tom Depping Chief Executive Officer at Ascen-tium Capital

The company has provided financing to over 60000 busi-nesses since its inception Initiatives during 2018 will focus on

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Policies are underwritten by Great American Insurance Company Great American Assurance Company and Great American Spirit Insurance Company authorized insurers in all 50 states and DC The Great American Insurance Group eagle logo and the word marks Great Americanreg and Great American Insurance Groupreg are registered service marks of Great American Insurance Company copy2017 Great American Insurance Company All rights reserved

Protection LEASE amp FINANCE


sales and marketing efforts in key industries including but not limited to healthcare technology energy franchise hospital-ity specialty vehicle waste and construction

ldquoWe invest for the long term as we continue on the path to suc-cess We are proud to support businesses and our vendor part-ners who serve their needs Our growth initiatives continue with on-going recruitment across the US as we plan to hire 50 additional sales professionals during the next 12 monthsrdquo said Richard Baccaro Chief Sales and Marketing Officer

Beacon Funding Named Among Best Places to Work in ChicagoBeacon Funding announced the company has been named one of the 2018 Best Places to Work in Chicago As a leading equipment financing company Beacon Funding continually strives to offer a positive work environment that encourages employees to provide the best service possible to its customers

ldquoI am happy to hear that our organizationrsquos steadfast passion to be a better company has resonated with our staff Letrsquos all con-tinue to strive to make our days go by quickly and our work effortlessrdquo said Sam Oliva Beacon Fundings Chief Executive Officer

Crainrsquos partnered with Best Companies Group to survey Chi-cago employees about everything from their workplace to ben-efits to company culture This survey and awards program is designed to identify recognize and honor the 100 best com-panies to work for in Chicago In addition to the survey Bea-con Fundingrsquos workplace policies practices and demographics were evaluated The results of the evaluation were combined with the survey responses to determine the top 100 places to work

ldquoOut of all the companies in the Chicagoland area itrsquos an honor to be recognized as one of the top 100 best places to work Beacon Fundingrsquos commitment to creating an incredi-ble environment and culture shows how much the company values its employeesrdquo said Toby McDonough Beacon Fund-ing President ldquoWe look forward to finding even better ways to improve the company for our employees and clientsrdquo

Ascentium Capital Reports Record First QuarterAscentium Capital LLC experienced a strong first-quarter funding $278 millionmdash an increase of 24 over the same period last year and the highest origination quarter in the companyrsquos history

ldquoI am extremely pleased with first-quarter results and the con-tributions that our employees make to build the Ascentium brand and create a national demand for our financing pro-gramsrdquo said Tom Depping Chief Executive Officer at Ascen-tium Capital ldquoThese ongoing efforts enable us to capture mar-ket sharerdquo

Ascentium Capital was also announced as the largest private independent finance company in annual funded new business volume by the Monitor for a second consecutive year

Help us celebrate Send us your Rejected credits

$100000 to $2000000

debbiebfeccom

established 1968


in the NEWS

National Equipment Finance AssociationThe company had a record-breaking quarter for credit appli-cation submissions representing $730 million for the quarter with $295 million submitted during March

ldquoWe continue to see remarkable success due to our proven value in the industries we serverdquo said Richard Baccaro Chief Sales and Marketing Officer ldquoOur collective goal as an organi-zation is to support and drive the success of our valued partners and customers We anticipate another strong year in growth and expansion in 2018

Funding Circle Expands US Operations to Add 290 EmployeesFunding Circle announced it is expanding its US operations with a second office in Denver CO With the move Fund-ing Circle will look to hire around 290 new employees in the Denver area over the next two years to support the companys growth

Colorado Governor John Hickenlooper said Funding Cir-cles presence in Colorado helps strengthen our states entre-preneurial and investor ecosystem Their innovative platform provides greater access to capital and will help create sustain-able job opportunities in tech and financial services mdash two of our states fastest growing and most vibrant sectors

Bernardo Martinez US Managing Director of Funding Cir-cle said Denver today serves a hub for both the financial services and technology industries making it an ideal second home for us in the United States We are excited to become part of the Denver community and grow our team in the Mile High City

Marlin Secures $300MM Forward Flow Agreement to Expand Equipment FinancingMarlin Business Services Corp announced it has entered into a forward flow sale agreement with Varadero Capital LP a lead-ing alternative asset management firm to sell up to $300 mil-lion in equipment leases and loans to be originated by Marlin

Jeffrey Hilzinger President and Chief Executive Officer of Marlin said ldquoThe primary purpose of this arrangement is to expand Marlinrsquos ability to provide equipment financing to small businesses that are not currently served by our existing finance programs Our partnership with Varadero diversifies our funding sources and provides us with substantial new lending capacity And most importantly it strengthens our competitive position in the small business financing market by expanding our credit capacity In Varadero we have found a partner with significant experience in small business credit data analytics and structuring Together we have developed a program which aligns the interests of our two firms and pro-vides much needed credit extension into an underserved sector of the small business communityrdquo

ldquoOur goal is to become a single source of equipment financing for our partners across a wide range of products transac-tion sizes and credit bandsrdquo said Mark Scardigli Chief Sales Officer of Marlin ldquoOur partners tell us that they want to be able to work with a single financing partner for all of their small business customers While Marlin has long held a leading position in providing financ-ing to small businesses this arrange-ment will allow us to expand our credit capacity to help us finance equipment purchases for both well-established and less-established businesses enabling us to further strengthen and grow our rela-tionships with our partners and small business customersrdquo

Boston Financial amp Equity Closes $300K Lease LineBoston Financial amp Equity closed a $300000 equipment lease line for a startup company in California The idea of this company was conceived by the founder in 2014 who had both a law degree and a medical degree from a top-tier university The founder had a vision for a more personalized and connected healthcare experience for women


Originally funded by angel investors in December the com-pany raised close to $8 million The service is up and run-ning online in over 17 states and has plans to expand to all 50 states by the second half of 2018 Their first take down is for $150000 of packaging and fulfillment equipment

Verhelle Forms New Financial Services Business Innova-tion Finance USABill Verhelle announced the formation of Innovation Finance USA LLC a new national lending business with headquarters in Fairport NY Innovation Finance serves large creditworthy corporate and nonprofit borrowers located throughout the US

Verhelle believes industry methods to deliver equipment financing to commercial borrowers can be greatly improved Today sophisticated borrowers often endure a painful and time-consuming bid process followed by slow credit and funding processes The experience often involves unnecessary meetings telephone calls and delays

Business executives want self-service transparent financing solutions for their growing companies said Verhelle

Innovation Finance represents a new kind of commercial lend-ing business built for speed simplicity and transparency Serv-ing larger sophisticated corporate and nonprofit borrowers Innovation Finance is committed to delivering a dramatically improved customer experience

ldquoStarting with a clean slate we created a new business model with no compromises required to accommodate legacy systems or existing processesrdquo he added

Tamarack Launches Salesforcecom for Hitachi Capital AmericaTamarack recently launched Salesforcecom for Hitachi Cap-ital America Corprsquos Transportation Finance division This is in addition to the Salesforce org that Tamarack created last year for Hitachi Business Finance another division of Hitachi Capital America

Tamarack and Hitachi have enjoyed a long-term relation-ship said Rob Carron Director of IT Application Leaning on Tamarackrsquos top-notch staff their industryproduct expertise and technical know-how has been a huge help for us as (we) implemented Salesforcecom Now that itrsquos live and our staff is actively using the system wersquore excited to see the positive effects this shift will have on our business

Hitachi Capital America offers a variety of financing solutions with a focus on commercial vehicle and floorplan financing as well as business financing which includes trade smallmedi-um-ticket structured vendor and asset-based lending

ldquoBy working with Tamarack wersquore now able to take full advantage of Salesforcersquos rich functionality which will provide immediate benefits to our transportation finance divisionrdquo Carron added ldquoOur team now has immediate access ndash regard-


in the NEWS


Alabama - Marks amp Associates PC

Arizona - Jennings Haug

amp Cunningham LLP

Arkansas - Hood and Stacy PC

California - Los Angeles - Hemar

Rousso amp Heald LLP

San Francisco - Cooper White amp Cooper LLP

Colorado - Harry L Simon PC

District of Columbia - Weinstock

Friedman amp Friedman PA

Florida - Miami Beach - Mitrani Rynor

Adamsky amp Toland PA

Georgia - Marks amp Associates

Hawaii - Kessner Umebayashi Bain

amp Matsunaga

Illinois - AshenFaulkner LTD

Iowa - Witt Law Offices

Kansas - Young Bogle McCausland

Wells amp Blanchard

Louisiana - McGlinchey Stafford PLLC

Maryland - Weinstock Friedman

amp Friedman PA

Massachusetts - Cohn amp Dussi LLC

Michigan - Jaffe Raitt Heuer amp Weiss PC

Minnesota - Messerli amp Kramer PA

Missouri - Jenkins amp Kling PC

New Jersey - West Orange - Chiesa

Shahinian amp Giantomasi

Voorhees - Howard N Sobel PA

New York - New York City - Foster amp

Wolkind PC

North Carolina - Raleigh - Smith Debnam

Oklahoma - Hood and Stacy PA

Oregon - Farleigh Wada Witt

Pennsylvania - Pittsburgh - Bernstein -

Burkley PC

Rhode Island - Cohn amp Dussi LLC

South Carolina - Bunch Law LLC

Texas - Fort Worth - Padfield amp Stout LLP

Houston - Wright Law Group PLLC

Utah - Ray Quinney amp Nebeker PC

Virginia - Weinstock Friedman amp

Friedman PA

West Virginia - Bernstein-Burkley PC

Wisconsin - Quarles amp Brady LLP

Murphy Desmond SC

Wyoming - Harry L Simon PC

CANADA

Quebec - Lavery De Billy LLP

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877-LEASE-LAW or

visit our directory

of LEAN firms at

wwwleasecollectorg

LEAN 8222016_Layout 1 41917 1210 PM

less of physical location ndash to all of the important details and information they need to better execute and perform in their respective rolesrdquo

Our in-depth knowledge and understanding of lending and leasing allows us to implement Salesforce effectively and effi-ciently for clients like Hitachi said Thomas Claeson Solu-tion Architect at Tamarack Based on our past experience we are able to confidently promote best practices apps and con-figurations that will help our clients succeed

Arvest Equipment Finance Hits $100MM in New Production in 2017Arvest Equipment Finance (AEF) closed more than $100 million in new production in 2017 a first for the division of Arvest Bank AEF President Eric Bunnell cited a doubling of the companyrsquos vendor production ndash from $7 million in 2016 to $188 million in 2017 ndash as a key in reaching $1066 million in new production for the year

ldquoWe continued to see strong support from the commercial lenders throughout the Arvest footprint and were able to help structure equipment transactions for many bank customersrdquo Bunnell said ldquoI am also excited about our growth in vendor production We continue to expand our external salesforce and

inform the dealers about what we have to offerrdquo

AEF also increased its total portfolio by 59 from $2347 million in 2016 to $2486 million in 2017 AEFrsquos total number of contracts increased as well from 1816 in 2016 to 2168 in 2017

Additionally Bunnell lauded Sales Support Specialist Aaron Loum for earning the Cer-tified Lease amp Finance Professional (CLFP) designation in 2017 AEF now employs nine of the more than 500 CLFPs in the United States and Canada That represents the eighth-highest total of CLFPs among all companies

Amur EF Closes Fifth Term Securitiza-tion Totaling $198MMAmur Equipment Finance (AmurEF) announced the completion of its fifth term securitization A total of $197549000 in DBRS rated securities spread across seven classes and secured by equipment lease and loans originated or contributed by AmurEF were issued including $164800000 rated invest-ment grade

ldquoThis securitization was a great outcome for AmurEF it shows that the market believes in us and our platform and sets us up well to continue on our very excit-ing growth path Wersquore grateful to the whole KeyBanc Capital Markets team for this outcome ndash a rapid uptick in inter-est rates during the marketing phase was a challenge but they delivered a great resultrdquo said Kalyan Makam AmurEF Board Member and EVP of Capital Mar-kets for Amur Finance Company Inc


ldquoThe response of investors to our disciplined underwriting standards solid portfolio performance and steady growth was tremendous as the bond offering was oversubscribedrdquo stated AmurEFrsquos Co-President and Chief Risk Officer Andrea Zana ldquoIt is clear that investors see and appreciate the value of what AmurEF is buildingrdquo

AmurEF has issued over $796000000 in secured notes across five securitizations AmurEF will use the proceeds from this securitization to refinance existing debt originate new leases and loans

CERTIFIED LEASE amp FINANCE PROFESSIONALFOUNDATION

CLFP Foundation Adds 19 Members After Two Internal AcademiesThe Certified Lease amp Finance Professional (CLFP) Founda-tion Board of Directors announced there are 19 new equip-ment finance professionals who gained the CLFP Designation in February and March Both exams were held after internal Academies for Lease amp Finance Professionals (ALFP) hosted by Canon Financial Services and Amur Equipment Finance The newest CLFPs are

bull Stacy Allen CLFP Senior Sales Coordinator - Amur Equip-ment Finance

bull Bryan Anderson CLFP National Account Manager - Amur Equipment Finance

bull McKayla Anderson CLFP Senior Credit Analyst - Amur Equipment Finance

bull Cathy Archer CLFP Accounting Supervisor - Amur Equip-ment Finance

bull Eric Bicknase CLFP Senior Account Manager - Amur Equipment Finance

bull Don Bryson CLFP Director of IT - Canon Financial Ser-vices Inc

bull Joe Carr CLFP IT Business Analyst - Canon Financial Ser-vices Inc

bull Jacob Conlon CLFP Senior Manager Corporate IT - Canon Financial Services Inc

bull Mike Coon CLFP Vice President Syndications - Amur Equipment Finance

bull David Cramer CLFP IT Systems Administrator - Amur Equipment Finance

bull Shauna Heckathorn CLFP Chief Financial Officer - Amur Equipment Finance

bull Rob Hollenbeck CLFP IT Architect - Canon Financial Services

bull Jacklynn Manning CLFP Vice President of Marketing - Amur Equipment Finance

bull Daniel Marquette CLFP Senior Account Manager - Amur Equipment Finance

bull Casey Mitchell CLFP Senior Vice President of Sales - Amur Equipment Finance

bull Nate Pfeifer CLFP Manager Credit - Amur Equipment Finance

bull David Rabinovitz CLFP Vice President Syndications - Amur Equipment Finance

bull Brian Shinkle CLFP Senior IT Architect - Canon Financial Services

bull Seth Yount CLFP Corporate Counsel - Amur Equipment Finance

Manning stated ldquoIn an effort to achieve a level of expertise and proficiency beyond that of a standard marketer within the industry I chose to pursue the CLFP designation This provided me the opportunity to grow and enhance my skills of the leasing and finance industry and will allow me to use this knowledge as a tool to develop strategic and diverse pro-grammatic omnichannel marketing while at Amur Equipment Financerdquo

The CLFP designation is the only certification for the Equip-ment Finance Industry There are 539 active Certified Lease amp Finance Professionals and Associates in the United States Canada and Australia

Please send your companys news items to mtogliaadvisorpubscom


NEWSLINE PICTORIAL

NEFArsquos 2018 National Equipment Finance Summit

March 14 ndash 16 2018Las Vegas NV



Machine tools in all of their varieties and capabilities have long been a collat-eral type that is high on the list of most commercial equipment lessors and lend-ers The primary reason is that machine tools represent solid long-lived indus-trial equipment that typically retains value and can be customized for a vari-ety of products and industries When it comes to collateral machine tools are almost as good as it gets That fact

remains true today as the overall US economy is vibrant - thanks to a variety of national and international geopolitical and economic factors many of which could change quickly given the current climate involving tariffs and international trade uncertainty

Similarly the manufacturing industry where most machine tools reside has historically been one of the top industries tar-geted by commercial finance companies Like machine tools manufacturing companies come in all shapes and sizes and represent major industries such as automotive aerospace medical military and government contractors and many more The strength of the manufacturing industry in general is

typically a good indicator of the overall strength of the econ-omy both regionally and nationally

Trends in the manufacturing industry have evolved in recent years as the smaller ldquomom and poprdquo job shop companies have decreased and have been replaced or acquired by larger companies in an effort to benefit from greater efficiency and economies of scale Additionally skilled machinists have decreased as a major component of the workforce as higher-tech industries tend to have more allure to younger workers than manufacturing

Here are some tips for adapting to these changes and remain-ing competitive in a changing market

Technological Influences Machine tools in general have evolved over the past 30 years primarily with the advent of CNC and CADCAM technol-ogies however despite technological enhancements most machine tool manufacturers are able to adapt relatively easily to computer and software updates Technology changes rap-idly An older machine tool may have its value enhanced sim-ply by upgrading the computer and software input systems Be sure to recognize and understand the technological aspects of the specific equipment that you are financing

Adaptation King of the Evolving Machine Tool Industry Few industries have felt the disruptive forces of emerging technology as acutely as the machine tool sector Automation robotics and artificial intelligence have revolutionized the way products are designed and manufactured But as Grant Finch points out machine tools are still an extremely important equipment class for equipment lessorsBy Grant Finch

Grant FinchDedicated Funding


front risks include the likelihood timing and magnitude of the administrationrsquos proposed tax plan in addition to risks of increased protectionism especially as it pertains to the North American Free Trade Agreement (NAFTA)rdquo

ldquoA second notable risk is the recent savings dip in which households have drawn down savings to finance spendingrdquo it continues ldquoOnly higher incomes or lower spending can cor-rect this otherwise unsustainable situation Other risks to US economic prospects include elevated asset prices tightening of financial conditions restrictions on immigration and slower global growthrdquo

Financing machine tools continues to be a solid sector in the manufacturing industry However it is vital to have a thor-ough understanding of your borrower the industries that are represented by their products and services and the nature and strength of underlying contracts that they may be involved with Do not rush to credit approval simply because a machine tool is the collateral on the transaction Liquidation of collat-eral as a source of repayment can be a very dangerous strategy While machine tools typically retain value over a long period of time in a credit default situation repossession storage refurbishing and liquidation will be costly and likely erode the yield and income on a particular transaction Similarly in any default situation there may well be more global issues at stake The failure of a manufacturing operation may be related to more widespread economic challenges further deteriorating the value of the collateral As we have all either heard or said in credit committee settings ldquoCollateral alone does not a good deal makerdquo

It can take time to fully understand your borrower and the industries that they serve It definitely takes time to research the specific equipment and the markets and trends for used equipment By being very diligent in your efforts plus being as creative as you can be in order to make the financing cycle less cumbersome to your borrowers you will create relation-ships with vendors and borrowers that will set you apart from the crowd and result in more deals funded and more satisfied customers

ABOUT THE AUTHOR Grant Finch is Managing Partner of Dedicated Funding LLC

Get CreativeEvery lenderrsquos money is green In a competitive situation and with the right credit a lender may gain an advantage over their competition if they are willing to front the deposit on a new machine at the time of order and charge the customer inter-est-only payments until the equipment is delivered and the contract begins The reason for this is that in todayrsquos market it is not uncommon for the delivery cycle on new machines to take six months to a year from the date of order By having a grasp of the specific issues related to machine tool financing you will come across as more of an industry expert and build a greater level of trust with your borrowers This type of service will often result in better overall yields on the transactions that you service and hopefully many repeat customers

Buyer Beware When the national manufacturing sector is strong demand for machine tools increases This puts upward pressure on machine tool pricing but it also entices more machine tool manufacturers to enter or re-enter the market In some cases these manufacturers simply make inferior products The cost of lesser-quality machine tools is often lower than the cost of higher-quality tools some buyers are allured by the lower cost and in some cases the shorter delivery cycle of these less-er-made products The problem is that lower-quality tools nor-mally donrsquot have the level of service parts upgrades and other value-adds that purveyors of higher-quality tools provide That fact alone can have a major impact on the overall quality and reliability of products produced

Current Industry ConsiderationsDespite having a pro-business administration in control in Washington the American economy is experiencing a period of uncertainty An article published last year by Advanced-Manufacturingorg predicts the US economy will experience moderate growth driven by among other things declining unemployment robust global demand for US goods and rebounding business investment

However the author notes uncertainties remain on the hori-zon including an expected fiscal stimulus bill and regulatory changes under the Trump Administration

ldquoOver eight years into recovery the economy appears to be on a sustainable path but risks cloud the outlookrdquo the arti-cle notes ldquoFirst and foremost is policy uncertainty On this


ldquoTechnology changes rapidly An older machine tool may have its value enhanced simply by upgrading the computer and software input systemsrdquo


Commercial Specialty Vehicle Financing Requires Custom Tailored SolutionsFinancing specialty vehicles can be a profitable niche for those willing to put in the time and attention to detail required for satisfying a diverse but unique customer base As Hanmi Bankrsquos David Normandin explains tapping into this growth market starts with establishing a knowledgeable and skillful teamBy David Normandin


In the world of commercial vehicles specialty vehicles are often overlooked as the market is fragmented and generally overshadowed by the much larger general transportation sec-tor However the global specialty commercial vehicle market is valued at about $70 billion according to a recent BCC Research publication And it is projected to grow at a com-pound annual growth rate (CAGR) of just over four percent over the next five years This is a large opportunity for equip-ment leasing companies to leverage for many years to come

Financing and leasing of commercial specialty vehicles is a highly competitive space As the name suggests it requires unique solutions that align with the specific asset While it is easy to look at specialty vehicles as just another titled asset that it is relatively simple to slap a typical lease or equipment finance agreement to that would be a short-sighted view that may only work in the short term This industry is actually complicated and is driven by larger business models in which these assets are an important yet small part of their execution strategy It is no surprise that understanding the larger business model is important to having a long-term successful finance program in this space

In the commercial specialty vehicle market how an asset will be used often dictates how it is purchased if there are spe-cial up-fitting requirements how it will be maintained how expenses related to the vehicle are paid and the strength of any secondary market for the asset Given the above variations it is common to have different processes structures pricing and residual considerations for not only each type of asset but also for the environment and system in which the asset will exist All of these factors increase the need for expertise to be effec-tive in building a long-term profitable business in the com-mercial specialty vehicle financing space

The knowledge and skill of your team will in many ways deter-mine your ability to penetrate this market First it is highly valuable to have a skilled sales team to understand the clients needs and to communicate with your risk and operations team to build solutions and negotiate structured partnerships that will enhance the risk characteristics of the credits you will need to underwrite Second you will need a credit team that understands the unique risk characteristics of the busi-ness concepts they will underwrite and the ability to create a risk profile to produce a portfolio with consistent performance characteristics Additionally strong asset management is very important in commercial specialty vehicles for long-term port-folio performance

On the client side lessees and debtors can look very different from one another in this space They could be an independent that has a single vehicle that they personally operate or man-age a fleet of over a hundred vehicles The disparate credit qual-

ities between these two customer types are very different and therefore require different underwriting criteria processes and products Additionally many may involve recourse structures and remar-keting agreements to enhance the credit profile to fit onersquos risk appetite The one commonality between the customer profiles is that they both demand a high level of understanding of their business model and an efficient and convenient process executed with high service levels

To successfully execute these nimble processes technology solutions are needed to leverage various origination processes and risk characteristics Additionally information and report-ing becomes increasingly important in the asset management of commercial specialty vehicles that have different uses and life cycles In years past large Excel files that we would convert into information would pass as reporting but as our world and our customers have become more sophisticated real dynamic data is becoming increasingly important to meet the needs of our customers manage risk and increase efficiency Additionally technology is more important than ever to meet compliance requirements scale business processes improve customer-service levels and increase employee satisfaction The incorporation of robust systems is an important ingredient when scaling a commercial specialty vehicle program

As I mentioned earlier competition is strong in this vertical market To be profitable scale becomes your favorite buzz-word Scale is necessary because of the investments in peo-ple processes technology and market pricing Without these investments one can still find some business But it is gener-ally adversely selected resulting in portfolio performance that is less than desirable

After stating all of the above the commercial specialty vehicle vertical is a growing and dynamic business that has performed well through cycles The business is becoming more integrated and requires nimble solutions that equipment leasing compa-nies are great at delivering

Our team at Hanmi Bank has been involved in this vertical for almost six years and has found it to be a complicated yet profitable program that we intend to continue to invest in and grow in the future

ABOUT THE AUTHOR David Normandin CLFP is Managing Director at Hanmi Bank

David NormandinHanmi Bank



Software has traditionally been treated as an afterthought in the area of leasing and financing And yet without it all of that super-fast and powerful technology wersquove come to depend on wouldnrsquot oper-ate Typically you donrsquot give it a second thought unless you get an error code when you are trying to get from point A to point B However technology couldnrsquot power itself to do all of those amazing things without software

Software continues to become even more important than tra-ditional hardware solutions especially with the remarkable growth in cloud-based services customizable platforms and the ever growing cyber solutions all created to help businesses run faster more productively and with better security

The US government has even stepped in and mandated soft-ware regulation to such industries as the medical field These and other industries are becoming more and more reliant on software to fuel their internal processes and link more people together in an effort to more efficiently work on these pro-cesses solve problems and grow their businesses

The trend toward universal online accessibility has magni-fied the need for software that protects government financial institutions corporations and individuals from all manner of threats some that you see and others you dont discover until itrsquos too late

However software is expensive to buy operate and update to ensure its relevance What options does a company have to lease or finance software Truly it doesnrsquot even come close to the sources available to lease or finance all of those hard assets

Most corporate finance executives small business owners and vendors arenrsquot even aware that software is leasable Lease and finance providers often look at software without appreciating the fact that software has value

Hardware leasing and financing have become very prominent as companies race to keep up with technology What about the software needed to run these solutions The current technol-ogy race serves little good without the brain behind it Where is your brain Is your brain up to date Is your brain ready to detect cyber criminals or prevent their access all together Is your brain doing everything it should be capable of doing including leaving room for additional growth and develop-ment Help your brain help you

Few businesses today are aloof to the revolutionary power of technology to transform nearly every aspect of their enterprise But as Richard Hickmon writes the unseen engine behind that transformation remains an untapped market for the equipment financing industryBy Richard Hickmon

Richard HickmonVFI Corporate Finance

Hidden in Plain Sight Discovering the Value of Software Financing


bull Artificial intelligence which is unlocking new capabilities for software-based solutions that previously existed only in the realm of human labor (You can experience this type of software capability by just utilizing your smartphone which now operates using image recognition language processing and speech recognition)

In this age of digital disruption technology companies face increasing pressure to improve time-to-market and ensure their offerings are best-in-class

When the research firm Forrester published their mid-year tech outlook for 2017 and 2018 they projected global pur-chases of technology software hardware and services to grow by 34 percent in 2017 and by 4 percent in 2018

They further stated they expected spending on software and tech consulting services (also leasable) to see the strongest growth with spending in both categories to increase around 43 percent in 2017 before accelerating to over 6 percent in 2018 This would be one of the contributing factors to help push the global tech market in 2018 to $3 trillion

The bottom line is if you are not utilizing the area of software to further your array of lease and finance product offerings to your clients you are losing out on some valuable income opportunities and an important avenue for client retention

As with any other leasing and financing source it is important you properly vet your sourcesrsquo ability to not only truly offer software and software consulting expenses but to understand the value of software to offer your clients a scalable option to stay current in the ever-evolving software age

It is imperative that you dont get left behind as software con-tinues to evolve and serve as one of the driving forces in the quickly advancing digital technology sector

ABOUT THE AUTHOR Richard Hickmon is Vice President of Intermediary Relations at VFI Corporate Finance

Many choose software like any other asset Get what your company needs now or what it simply can afford The reality is you canrsquot afford to be left behind Cost is often a large factor contributing to decisions about software acquisition because many organizations are unaware there are other options than paying cash to assist in facilitating software upgrades

For many organizations a more effective solution is to pay for software over time while increasing cash flow through flexible payment terms that would allow for better asset management of your solution

As a broker lessor or vendor doesnrsquot it make sense to find a source that offers this type of solution for you and your cli-ents It is another huge source of revenue so partnering with a source that understands the value of leasing or financing is critical It is also one more option you should be providing your clients in order to be a full-service provider

Last year Keith Weiss Morgan Stanleyrsquos lead analyst for the software sector was asked about his thoughts on the software market He stated that people should keep their eyes on key positive factors

ldquoSoftware is eating the worldrdquo Weiss said challenging us to imagine any part of work or personal life that isnrsquot somehow tied to an app of some sort ldquoSoftware functionality is driv-ing deeper into every aspect of commercial and consumer life which sustains strong demand trends across the [software industry]

These facts are most certainly not going away in 2018 If any-thing they continue to become more and more true

Some of the key drivers wersquove touched on already (and were also stated by Weiss) include

bull Workflow automation which is the process of automating many of your internal functions when applicable

bull Secular versus cyclical security challenges which refers to a companyrsquos approach or solution regarding cybersecurity

bull Small- and mid-sized businesses which are still an under-pen-etrated market opportunity for software

ldquoCost is often a large factor contributing to decisions about software acquisition because many organizations are unaware there are other options than paying cash to assist in facilitating software upgradesrdquo



The construction sector has long been a staple of the equipment finance industry ndash served by financing sources ranging from banks bank-owned leasing com-panies independent finance companies captives and the broker community For many of these financing sources ldquoyel-low ironrdquo loans remain one of the most attractive types of equipment loans to hold in their portfolios due to the col-lateralrsquos unique ability to retain value its long useful life and its portability into a multitude of industries

The Great Recession impacted all sectors in the equipment finance industry and while spending on construction equip-ment slowed dramatically during those dark years it has since experienced a strong resurgence Today we are seeing robust commercial and non-commercial construction spending nationwide To gain an understanding of the construction equipment finance market from a less traditional perspective Newsline spoke with Josh Rothman ndash COO and EVP of North Mill Equipment Finance ndash an independent equipment finance company that generates 100 percent of its construction loan volume via the broker channel focusing on non-bank credits

Newsline According to the recently released Wells Fargo 2018 Construction Industry Forecast construction industry execu-tives are more optimistic about non-residential construction activity than they have been since the beginning of the 21st Century What do you believe are the major factors driving this optimism in the construction sector

Josh Rothman We believe optimism is being driven by the overall strength of the economy Most economists are predict-ing economic growth of 2-3 percent and donrsquot anticipate this growth slowing much over the next four to five years As a result construction companies and the many industries that utilize construction equipment are spending more money

We find it interesting that after the Trump administration took office everyone was focused on the potential growth in infrastructure spending but in reality there has been very lit-tle infrastructure spending From our perspective government spending has actually been a drag on the construction mar-ket yet we continue to see growth in all areas of commercial property development Perhaps most surprisingly we are still seeing retail real estate being developed as well as mixed use construction projects We believe this growth is based on an optimistic view of the overall economy This is also one of the reasons expanding our presence in the construction sector is our number-one priority at North Mill Equipment Finance where our focus is on the small-ticket market ndash financing up to roughly $250000 per borrower

THE CONSTRUCTION MARKET - Building on Economic Momentum

Josh RothmanNorth Mill Equipment Finance

Financing construction equipment dates back to the earliest days of the equipment finance industry In this Newsline QampA Josh Rothman of North Mill Equipment Finance provides his views of this sector from the perspective of a broker funding source


Newsline From your perspective what isare the most important consideration(s) for company owners and CFOs when seeking to finance a piece of construction equipment

Rothman Our broker partners tell us - and we are seeing first-hand - that construction borrowers are seeking to understand the total cost of ownership because they ultimately want to own the equipment not lease it We are not seeing a lot of leases being written today Depreciation is slow on construc-tion equipment and the borrowers know they will own a valu-able asset at the end of the financing term if they purchase it This again underscores why this collateral is so attractive to lenders and why the landscape for financing construction equipment is so competitive today But this competition comes at a cost The margins earned on construction equip-ment loans are considerably lower than the margins earned on other types of equipment

Another important aspect of lending in the construction sector is recognizing the need to provide flexibility to the borrower in terms of an early termination of the financing agreement Bor-rowers are seeking the ability to pre-pay loans with no penalty for this early repayment

Newsline Both the new and used construction equipment markets are robust according to many reports In your opin-ion why are more construction companies willing to purchase used equipment and in turn why are lenders more willing to finance used equipment

Rothman We and our competitors are willing to finance used equipment because as I mentioned earlier as an asset class in general construction equipment retains much of its value for many years The equipment does not depreciate nearly as rap-idly as equipment in other sectors For example in our portfo-lio nearly 90 percent of the construction equipment we finance is used We find great comfort in the value of construction

equipment as a lender and we augment our financing packages by also financing warranties (both OEM and secondary mar-ket warranties) on the equipment we finance

Newsline From your perspective how will the rising interest rate environment impact demand for construction equipment purchases during in the next 12-18 months ndash considering it has been years since we have been in a consistently rising inter-est rate environment Are companies rushing to acquire and finance more equipment in this rising rate environment

Rothman I donrsquot think rising interest rates have negatively impacted CAPEX spending because interest rates have not risen dramatically and are still relatively low from a histori-cal perspective Interest rates are rising slowly and gradually ndash so we are not seeing a rush to invest in construction equip-ment today Furthermore the market is so competitive that all finance companies and banks are working hard to take as much of the construction market as possible with banks lead-ing the way At the end of the day lenderslessors are willing to onboard construction businesses with lower margins today Over time an increase in interest rates could impact the level of investment but we feel manufacturers will likely lower their prices when this happens in order to keep the market robust for equipment acquisitions

Newsline Overall how would you describe your outlook for the construction industry for 2018

Rothman We believe the construction lending market will continue to be very competitive for the balance of the year and for years to come We anticipate continued growth in the con-struction industry with competition among lending sources of all types continuing to sharpen

ldquoOur broker partners tell us - and we are seeing first-hand - that construction borrowers are seeking to understand the total cost of ownership because they ultimately want to own the equipment not lease it We are not seeing a lot of leases being written todayrdquo


INDUSTRY EVENTS CALENDAR

2018 FUNDING SYMPOSIUM SPONSORS AS OF 4-23-18

AMUR Equipment Finance bull Networking Luncheon amp Annual Business MeetingBeneficial Equipment Finance Corp bull Friday Networking BreakfastBryn Mawr Funding bull Hotel Key CardsChannel Partners Capital bull Conference GiftECS Financial Services Inc bull Welcome Reception Drink TicketsFirstLease Inc bull Ambassadors OrientationFinancial Pacific Leasing Inc bull Name BadgesGreat American Insurance bull Pocket BrochureLeaseTeam Inc bull Mobile Charging KioskMarlin Business Bank bull Thursday Networking BreakfastNavitas Credit Corp bull Registration Packets amp Conference Broadcast E-mailsOrange Commercial Credit bull Attendee List amp Presidents Reception Drink TicketsPawnee Leasing Corporation bull Friday Networking LuncheonRapidAdvance bull Afternoon Snack BreakStearns Bank bull Mobile Massage Station

Crab FeastJune 14 2018

Captain James CrabhouseBaltimore MD

Angels Baseball NetworkingJuly 27 2018Anaheim CA

Ansley Golf Club Networking Luncheon

August 16 2018Ansley Golf Club GA

KC Royals Baseball Networking

August 16 2018Kansas City MS

Seattle Mariners Baseball amp Networking

August 21 2018Seattle WA

Lake Minnetonka Dinner Cruise

Summer 2018Lake Minnetonka MN

2018 Funding Symposium

October 3-5 2018Charlotte Marriott City

CenterCharlotte NC


November 15 2018Ansley Golf Club GA


nefacts2018 NEFA PARTNERS AS OF 4-23-18

HALL OF FAME PARTNERSChannel Partners CapitalLeaseTeam IncPawnee Leasing Corporation

LEGEND PARTNERSAMUR Equipment FinanceECS Financial Services IncFinancial Pacific Leasing IncMarlin Business BankStearns Bank

MVP PARTNERSBeneficial Equipment Finance CorpBryn Mawr FundingFirstLease Inc

36th Street Capital Partners LLC bull Funding SourceAlfa Financial Software Inc bull Service ProviderConnected Financial Solutions LLC bull Service ProviderCredito Real USA Business Capital bull BrokerLessorEMR Finance LLC bull BrokerLessorEnterprise Lease Solutions LLC bull Service ProviderEquipment Leasing Group of America LLC bull BrokerLessor

WELCOME NEW MEMBERS

Great American InsuranceNavitas Credit CorpNorth Mill Equipment FinanceOrion First Financial LLCQuality Leasing Co Inc

ALL-STAR PARTNERS4 Hour Funding Arvest Equipment FinanceBancorpSouth Equipment FinanceDakota Financial LLCDedicated Funding LLCOrange Commercial CreditRapidAdvanceRTR Services Inc

2018 FUNDING SYMPOSIUM EXHIBITORS AS OF 4-23-18

AMUR Equipment FinanceBeneficial Equipment Finance CorpBryn Mawr FundingChannel Partners CapitalDakota Financial LLCDedicated Funding LLCECS Financial Services IncFirstLease IncFinancial Pacific Leasing IncGreat American InsuranceLeaseTeam IncMarlin Business BankNavitas Credit CorpNorth Mill Equipment Finance LLCOrange Commercial CreditOrion First FinancialPawnee Leasing CorporationQuality Leasing Co IncRapidAdvanceRTR Services Inc

Lease Security Systems bull Service ProviderLeasePoint FG ndash bull BrokerLessorMadison Commercial Capital bull BrokerLessorMAX Leasing USA bull BrokerLessorPaymentVision a division of Autoscribe Corporation bull Service ProviderQuick2Finance LLC bull BrokerLessorTokyo Century (USA) Inc bull Funding Source


Its Not ALL About the BenjaminsCash may be King but it isnt the only member of the well-rounded court of variables that goes into finding an acquirer for your successful equipment finance business James Jackson of The Alta Group explains that there are other factors you should be considering when seeking the right buyerBy James JacksonYou are the owner of a successful equipment finance company and you have made the decision to sell the organization You have worked hard and sac-rificed over the years to nurture the confidence of your customers employees and funding sources It is important to you that your legacy continues after the sale and that your loyal management team and other employees are secure and well cared for by the new owner Your sell-side advisor has helped you to prepare your company for a sale and has commu-nicated the benefits of acquiring your organization to a number of potential candidates It is now time to narrow down the list of interested suitors and select the ldquorightrdquo buyer Your initial deciding factor might be sale price alone but there are several other factors to consider before selecting a buyer for the company that you have worked so hard to create

Cultural FitOne of the most important considerations for a seller is what the operating culture will be like under new ownership A buyer will almost always insist that the owner remain with the new company for some period to transition the business to the new owner Smaller organizations can often com-pete successfully against their larger rivals by being flexible and able to make decisions quickly It is

important for a seller to understand how decisions will be made in the organization post-acquisition Will the management team be able to operate and make decisions freely as it has in the past or will it now be subject to increased regulations controls and decision-making authority from above This is particularly important as it relates to decisions regarding credit authority pricing considerations and operating in specific market segments Sellers should understand how required process changes or new business terms and conditions will impact the company Knowing that the new owner will either approach business issues and challenges in a similar manner to a seller or will trust the seller to continue making operating decisions is critical to the success of the organization after the sale

Other BenefitsA seller should fully understand the benefits and competitive advantages a potential acquirer can provide to the organization to improve operational efficiencies or increase originations A buyer that offers the company a low-cost stable source of capital can potentially increase margins or provide access to new markets or higher quality credit cus-tomers within existing markets A buyer that can provide the seller with a more sophisticated tech-

BUSINESS INSIGHTS

James JacksonThe Alta Group

ldquoKnowing that the new owner will either approach business issues and challenges in a similar manner to a seller or will trust the seller to continue making operating decisions is critical to the success of the organization after the salerdquo


nology operating platform can improve operating efficiencies and customer satisfaction levels with respect to new origina-tions or account servicing

Another significant benefit to a seller is to identify a buyer that can provide additional back-office support services including accounting tax treasury legal human resources information technology and marketing personnel and resources to lever-age cost savings and economic efficiencies Additionally it is important to determine if the buyer can introduce the seller to new business relationships or market opportunities that could generate additional business for the organization Larger orga-nizations often have resources available to them that are gener-ally not affordable or practical for a smaller business

Buyer MotivationsA seller should have a clear understanding of the potential buyerrsquos motivation for acquiring the company Perhaps the potential buyer is a private equity firm that is looking to grow the business under the expertise of the existing management team and has a planned exit strategy in five to seven years to achieve its required rate of return Maybe the potential buyer is a bank that does not currently offer equipment financing and is looking to acquire a platform and seasoned management team to expand its product offering to existing customers and

improve operating margins A potential interested party might also be a strategic buyer that is looking to enter into new mar-kets or financial product types that the seller has a reputation for serving well Having a clear understanding of the buyerrsquos motivations will provide significant insight as to their long-term strategy and how this will impact the organization and its employees on a post-acquisition basis

Pricing StructureThe purchase price consideration and how the purchase price is structured can vary widely and often plays an important role in the sellerrsquos decision to accept or reject a potential buyer Pric-ing structures generally consist of cash the buyerrsquos shares or some combination of the two In addition the purchase price timing can range from being due entirely at closing to a com-bination of some amount upfront with a portion contingent upon future performance through an earn-out arrangement Some agreements may include a requirement that the owner roll over a portion of the purchase price into the new company which provides an incentive for the owner to participate in the organizationrsquos future success Having a clear understanding of the consideration of the purchase price and the timing of the purchase price payments are key considerations to selecting an appropriate buyer for the business

ConclusionIt is important to look beyond the purchase price to deter-mine the true benefits from a sale process Having a clear understanding of the cultural fit operational benefits buyer motivations and long-term goals and objectives is critical to the success of the relationship A seller should also have con-fidence that the buyer will be able to follow through on the acquisition A company pursuing a sale needs to be reasonably comfortable that a potential buyer can obtain the necessary capital and approvals complete the due diligence and close the transaction in a timely and efficient manner Remember cash may be King but a king cant be very effective without a capable court to lend support

ABOUT THE AUTHOR James Jackson is Managing Director and the Merger and Acquisition Advisory Practice Leader for The Alta Group



Paying it Forward- Inspirationally Helping Domestic Abuse Victims

Lovern Gordon is a wife businesswoman and mother of two but in her spare time she donates what energy she has left to a mis-sion that demonstrates the depth of her selflessness and empathy for people in need Gordon is the Founder and President of Love Life Now Foundation (LLN) which promotes year-round aware-ness of domestic violence and helps to bridge the gap between shelters and the communities they serve The group hosts various initiatives throughout the year designed to connect shelter repre-sentatives with those in need and engage communities on how they can be part of the solution toward ending a silent epidemic that destroys many families

Gordon became engaged in this work in 2010 after choosing ldquoDomestic Violence Awarenessrdquo as her platform for back-to-back beauty pageants in which she competed and won The experience evoked a deep compassion for the victims of domestic violence and she decided to continue her mission to further promote awareness of the problem It was around then that she founded the nonprofit group she currently runs while also volunteering at ldquoPenelopersquos Placerdquo - a shelter for victims of domestic abuse She went on to receive her Domestic Violence Advocate Training Certification through Health Imperatives Inc

Since then Gordon has helped raise awareness about domestic violence by hosting initiatives and events that have in turn raised thousands of dollars to benefit agencies and shelters in various cit-ies in her home state of Massachusetts She believes that the most effective work anyone can do is to support those on the front lines who are aiding victims and survivors every day

Too often she says people find out about a shelter when they end up at a police station (fleeing from an abuser) or at a hospital after seeking help with injuries Gordon hopes to change that and believes prevention and awareness are key in helping to erad-icate this widespread problem

Each initiative she organizes is unique and attracts different sec-

tors of the community but they all share the goal of encouraging others to learn how they can be part of the solution toward ending violence against women

NEFA events have also come to play an integral role in how Gor-don heightens awareness of this issue In each city that the con-ference visits she has been able to carve out time from her already tight schedule to connect with local advocacy groups and visit domestic violence agencies in the area

At the Las Vegas Conference Gordon was asked to speak at the Women in Leasing Luncheon on the topic and she visited SafeNest - the largest organization in Nevada that aids victims and survivors of abuse SafeNest operates a 247 crisis hotline and offers shelter therapy services outreach and court advocacy to women in need During these visits Gordon seeks to learn more about the organization She then promotes the grouprsquos work in her digital magazine - which focuses on domestic violence awareness Any proceeds she receives are donated to the agencyrsquos domestic violence programs She also regularly shares her visits on social media so her followers can better come to appreciate the scope of this issue

In addition to the multiple NEFA conference host cities Gordon has carved out time during personal visits to Spain Belize and Trinidad to raise awareness of domestic abuse

You may be asking yourself if Gordonrsquos deep passion for help-ing victims of domestic violence is informed by her own history Indeed as a teenager Gordon witnessed the physical verbal and emotional abuse her father delivered to her mother growing up on the island of Trinidad Migrating to the United States in 1993 she always said she would not fall prey to the kind of treatment her mother endured but unfortunately children exposed to abuse are more likely to exhibit abusive behavior or become a victim Gordon was no exception and became a victim herself enduring a two-year abusive relationship from 1999 to 2001

HUMAN INTEREST

Boston Financial amp Equity Corporationrsquos Lovern Gordon describes her personal mission to raise awareness around the issue of domestic violence in the US


ADVERTISER INDEXBoston Financial amp Equity Corp 9ECS Financial Services Inc 10Financial Pacific Leasing 9Great American Insurance 8

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She came to recognize the standard pattern After the first physical attack there was an elaborate apology where she deduced that the attack had to have been an isolated behavior and that her abuser was sincere when he said he would never do it again She accepted that apology and many others like it until she reached her break-ing point and sought help at a hospital for injuries she had sus-tained during her last attack

Isolated from friends and family Gordon realized that she could have easily lost her life that night It was then she knew that this type of behavior was indeed not normal from someone who claimed to love her But her trauma didnt stop there Gordon was forced to seek a restraining order when her abuser began stalking her She was one of the lucky ones her abuser eventually left her alone

Unfortunately some victims do not escape Many end up staying with their abuser for a number of complex reasons

Describing the night she finally left her abuser Gordon offers some insight into the fragile mental and psychological state of an abuse victim

ldquoAt the hospital when the ER doctor asked who had done this and explained he could refer me to get further help I thought that lsquohelprsquo meant ending up at a shelter in a big open room with beds with a bunch of strangersrdquo she said ldquoI thought confessing who had done this to me meant the police would get involved that my family would find out why I was so distant or my school and job would find out essentially bringing shame I didnrsquot wantrdquo

It turns out that many years later when asked why she chose domestic violence as a platform by the pageant judges she tear-fully related part of her story and realized she was not alone This is why she seeks to educate anyone who will listen Gordon knows there are many who suffer in silence for fear of being shamed blamed or simply out of fear of the unknown ahead

Gordonrsquos compelling story has touched many people who know someone who is looking for a way out of a bad situation but does not know how to do it

This compels her to inform others about how they can help

Gordon conducts educational workshops at middle- and high schools as well as college campuses She has also appeared on tele-vision and radio programs to share her story and the work she does with Life Now Foundation to the masses

To learn more about the signs of that someone may be in an abusive relationship or how you can support Love Life Now Foundationrsquos awareness and prevention efforts please visit wwwlovelifenoworg or email Lovern Gordon at infolovelifenoworg

ABOUT THE AUTHOR Lovern Gordon is National Busi-ness Development Manager at Boston Financial amp Equity Corporation



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Great Meeting

Charlotte Marriott City Center Charlotte North Carolina









20



5 In the Newshellip


24 neFACTS

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22

16



Greetings Members








EXECUTIVE COMMITTEE






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in the NEWS















Transaction Profile












Contact Information






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8777623808



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INDUSTRY NEWS













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LEAN 8222016_Layout 1 41917 1210 PM Page 1






































NEWSLINE PICTORIAL

















































































































CenterCharlotte NC









WELCOME NEW MEMBERS











BUSINESS INSIGHTS
























HUMAN INTEREST

































20



5 In the Newshellip


24 neFACTS

18













22

16



Greetings Members








EXECUTIVE COMMITTEE






board of directors




















in the NEWS















Transaction Profile












Contact Information






in the NEWS




























8777623808



in the NEWS






INDUSTRY NEWS













Hand Off Your Risk

To Us
















$100000 to $2000000

debbiebfeccom

established 1968


in the NEWS






















in the NEWS




amp Cunningham LLP












amp Matsunaga




Wells amp Blanchard



amp Friedman PA









Wolkind PC





Burkley PC







Friedman PA



Murphy Desmond SC


CANADA



Not Anymore



wwwleasecollectorg

If you need

experienced legal

counsel to help


challenges

call us for a

complimentary

referral at

877-LEASE-LAW or

visit our directory

of LEAN firms at

wwwleasecollectorg







































NEWSLINE PICTORIAL

















































































































CenterCharlotte NC









WELCOME NEW MEMBERS











BUSINESS INSIGHTS
























HUMAN INTEREST



























Greetings Members








EXECUTIVE COMMITTEE






board of directors




















in the NEWS















Transaction Profile












Contact Information






in the NEWS




























8777623808



in the NEWS






INDUSTRY NEWS













Hand Off Your Risk

To Us
















$100000 to $2000000

debbiebfeccom

established 1968


in the NEWS






















in the NEWS




amp Cunningham LLP












amp Matsunaga




Wells amp Blanchard



amp Friedman PA









Wolkind PC





Burkley PC







Friedman PA



Murphy Desmond SC


CANADA



Not Anymore



wwwleasecollectorg

If you need

experienced legal

counsel to help


challenges

call us for a

complimentary

referral at

877-LEASE-LAW or

visit our directory

of LEAN firms at

wwwleasecollectorg







































NEWSLINE PICTORIAL

















































































































CenterCharlotte NC









WELCOME NEW MEMBERS











BUSINESS INSIGHTS
























HUMAN INTEREST



































in the NEWS















Transaction Profile












Contact Information






in the NEWS




























8777623808



in the NEWS






INDUSTRY NEWS













Hand Off Your Risk

To Us
















$100000 to $2000000

debbiebfeccom

established 1968


in the NEWS






















in the NEWS




amp Cunningham LLP












amp Matsunaga




Wells amp Blanchard



amp Friedman PA









Wolkind PC





Burkley PC







Friedman PA



Murphy Desmond SC


CANADA



Not Anymore



wwwleasecollectorg

If you need

experienced legal

counsel to help


challenges

call us for a

complimentary

referral at

877-LEASE-LAW or

visit our directory

of LEAN firms at

wwwleasecollectorg







































NEWSLINE PICTORIAL

















































































































CenterCharlotte NC









WELCOME NEW MEMBERS











BUSINESS INSIGHTS
























HUMAN INTEREST


























in the NEWS




























8777623808



in the NEWS






INDUSTRY NEWS













Hand Off Your Risk

To Us
















$100000 to $2000000

debbiebfeccom

established 1968


in the NEWS






















in the NEWS




amp Cunningham LLP












amp Matsunaga




Wells amp Blanchard



amp Friedman PA









Wolkind PC





Burkley PC







Friedman PA



Murphy Desmond SC


CANADA



Not Anymore



wwwleasecollectorg

If you need

experienced legal

counsel to help


challenges

call us for a

complimentary

referral at

877-LEASE-LAW or

visit our directory

of LEAN firms at

wwwleasecollectorg







































NEWSLINE PICTORIAL

















































































































CenterCharlotte NC









WELCOME NEW MEMBERS











BUSINESS INSIGHTS
























HUMAN INTEREST


































8777623808



in the NEWS






INDUSTRY NEWS













Hand Off Your Risk

To Us
















$100000 to $2000000

debbiebfeccom

established 1968


in the NEWS






















in the NEWS




amp Cunningham LLP












amp Matsunaga




Wells amp Blanchard



amp Friedman PA









Wolkind PC





Burkley PC







Friedman PA



Murphy Desmond SC


CANADA



Not Anymore



wwwleasecollectorg

If you need

experienced legal

counsel to help


challenges

call us for a

complimentary

referral at

877-LEASE-LAW or

visit our directory

of LEAN firms at

wwwleasecollectorg







































NEWSLINE PICTORIAL

















































































































CenterCharlotte NC









WELCOME NEW MEMBERS











BUSINESS INSIGHTS
























HUMAN INTEREST

























in the NEWS






INDUSTRY NEWS













Hand Off Your Risk

To Us
















$100000 to $2000000

debbiebfeccom

established 1968


in the NEWS






















in the NEWS




amp Cunningham LLP












amp Matsunaga




Wells amp Blanchard



amp Friedman PA









Wolkind PC





Burkley PC







Friedman PA



Murphy Desmond SC


CANADA



Not Anymore



wwwleasecollectorg

If you need

experienced legal

counsel to help


challenges

call us for a

complimentary

referral at

877-LEASE-LAW or

visit our directory

of LEAN firms at

wwwleasecollectorg







































NEWSLINE PICTORIAL

















































































































CenterCharlotte NC









WELCOME NEW MEMBERS











BUSINESS INSIGHTS
























HUMAN INTEREST




































$100000 to $2000000

debbiebfeccom

established 1968


in the NEWS






















in the NEWS




amp Cunningham LLP












amp Matsunaga




Wells amp Blanchard



amp Friedman PA









Wolkind PC





Burkley PC







Friedman PA



Murphy Desmond SC


CANADA



Not Anymore



wwwleasecollectorg

If you need

experienced legal

counsel to help


challenges

call us for a

complimentary

referral at

877-LEASE-LAW or

visit our directory

of LEAN firms at

wwwleasecollectorg







































NEWSLINE PICTORIAL

















































































































CenterCharlotte NC









WELCOME NEW MEMBERS











BUSINESS INSIGHTS
























HUMAN INTEREST


























in the NEWS






















in the NEWS




amp Cunningham LLP












amp Matsunaga




Wells amp Blanchard



amp Friedman PA









Wolkind PC





Burkley PC







Friedman PA



Murphy Desmond SC


CANADA



Not Anymore



wwwleasecollectorg

If you need

experienced legal

counsel to help


challenges

call us for a

complimentary

referral at

877-LEASE-LAW or

visit our directory

of LEAN firms at

wwwleasecollectorg







































NEWSLINE PICTORIAL

















































































































CenterCharlotte NC









WELCOME NEW MEMBERS











BUSINESS INSIGHTS
























HUMAN INTEREST





































in the NEWS




amp Cunningham LLP












amp Matsunaga




Wells amp Blanchard



amp Friedman PA









Wolkind PC





Burkley PC







Friedman PA



Murphy Desmond SC


CANADA



Not Anymore



wwwleasecollectorg

If you need

experienced legal

counsel to help


challenges

call us for a

complimentary

referral at

877-LEASE-LAW or

visit our directory

of LEAN firms at

wwwleasecollectorg







































NEWSLINE PICTORIAL

















































































































CenterCharlotte NC









WELCOME NEW MEMBERS











BUSINESS INSIGHTS
























HUMAN INTEREST





















































NEWSLINE PICTORIAL

















































































































CenterCharlotte NC









WELCOME NEW MEMBERS











BUSINESS INSIGHTS
























HUMAN INTEREST







































































































































CenterCharlotte NC









WELCOME NEW MEMBERS











BUSINESS INSIGHTS
























HUMAN INTEREST






























BUSINESS INSIGHTS
























HUMAN INTEREST














































HUMAN INTEREST

























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