eLease Equipment Leasing

When I first met Brett he came into the eLease office and told me about opening the Ale and the Witch.  He explained why it was going to be successful and that he needed help financing his cooler and tap system.  At that time we weren’t funding any startup restaurants and bars but he had so much passion for his business and his future customers that the passion was contagious.  Although we did not have a bank program to help Brett I agreed to finance his business because of Brett’s experience and passion.   Like most entrepreneurs Brett had a great business acumen and the ability to make his dreams come through.  Brett had something else going for him.  He had 15 years of experience of running operations from Avalon NJ (Jack’s Place) to St Petersburg.  He had learned what works and what doesn’t.   Brett was a good bet!  I also love his music taste!

 In April 2011 I decided to launch St Pete Brew and needed another entrepreneur’s help and was unsure how we were going to get to the market.  When I talked to Brett he was so excited to help us.  Our launch party at the Ale and the Witch was fantastic and the response was great.  Brett helped me and has been a huge advocate of St Pete Brew as we try to open the brewery in this amazing city.  With Keep St Pete Local and The Burg out the there it is amazing how everyone supports each other and this city.  The success of Brett and Ale and the Witch is what this city is about. 

 I could not attend the 1 year anniversary since I am just getting over Bronchitis and my wife was traveling, I am reminded how many sacrifices we all make to do something unique and make a difference in our cities and other people’s lives.  Brett’s long night’s on deciding to be an entpreneur and how to open, when and where.  We entrepreneurs, we dreamers give up so much to make our dreams reality.  There are nights when people change who they are, what they will become, and also their environment.   The Ale and the Witch is his dream and we all love it. 

I will be there today a day late to celebrate with a pint his one year anniversary and I will get to see Brett smiling and maybe get to spend a minute or two with him about his future plans.    I am always concerned about what if people didn’t become entrepreneurs?  What if Brett didn’t open?  Would the plaza still be empty?  Where would people be going?  What about the 5 other entreprenuers he inspired to open in the courtyard?  Selfishly where would we have launched our beer?  He was the catalyst and visionary.  Thank goodness for dreams and people like Brett who make them a reality. 

When I look at Brett has accomplished over the last year it is amazing.  There was nothing in that courtyard and only for rent signs.  Brett’s vision changed that and again his success and vision was contagious.  I am very proud that I have gotten to know Brett as friend, client, customer, and supplier.   Entrepreneurs helping entrepreneurs is great but it is really people helping people. 

 Congratulations to the Ale and the Witch and Brett and team!

As entpreneuers we all know how the game works.   When the stakes are high typically so are the rewards.  It would seem to me that Obama and Gingrich should not attack Mitt on his success.  Although he only paid 3 million in taxes on 21 million made.  He gave an additional 3 million to charity.  That puts his effective (back to society) rate at almost 30%.  What most people don’t understand is how much risk entrepreneurs undure to make the world a better place and yes maybe make a few bucks.  We die younger, we live harder, and yes we might ruffle a few feathers along the along way. 

Instead of picking on success we should celebrate.  My vantage points allows me to say “Way to go Mitt, How do I do that and do it even better?”  I love this country and I am sad to see people pull down success.  Just my thoughts after the State of the Union and the debates. 

 Also if they really want to create jobs dump employer side Social Security and FICA.  I pay 12.5% on every dollar I pay someone!!!  Come on guys we don’t need tax credits.  We need real cash weekly on payroll……..

http://money.cnn.com/2012/01/05/smallbusiness/doctors_broke/index.htm?hpt=hp_t3&hpt=hp_c1

It is hard to believe smaller practices are having many more financial problems.  The Obama plan makes it even harder with the medical management software the MD’s are mandated to comply with.  It seems that their smart MD’s have to reinvent themselves every year.

May you live in interesting times.   I am wishing that sometimes I didn’t live in the largest credit crisis in history and then other times I feel blessed to navigate my business in a hard economic cycle.In our business we see entrepreneurs use credit lines as well as term financing without thinking what happens if the bank calls my loan?  I really never thought about either until our bank cut one of our credit lines and gave us 30 days to pay it off.  eLease had the ability to pay off the loan but what if we didn’t?  Would the bank seize your assets and worse yet what if your bank was taken over by the FDIC?  As an entrepreneur you could really find yourself in a tough spot.Over the last 3 months we have received a few calls from customers who utilized their banks prior to us and had their lines of credits not renewed.  Although we would like to help we can’t.   It makes it very apparent to me how important people utilize their credit.  If these customer had used eLease we would not and could not call that note.Although we are a lender we are also a borrower and I am forever changed for the dealing the TARP taking bank who left us not at the alter but at the reception.  May you live interesting times.  Yes we do!

If banks aren’t lending and not really supporting small business ie business’s with under 1.5 million per year in revenue where does that leave lenders like eLease and other specialty lenders who service these business.  In many ways I feel as though we are the Anti Bank.  Being that the banks have orphaned this space with exception of a few.  I applaud Regions and will leave my opinion about other banks who took Tarp and left their business providers.
So I guess eLease is the anti bank right now since we are lending and supporting real small business.  Call us if we can help you grow.
Â

Everywhere on the news talks about small business lending recovering but from my vantage point more and more banks are abandoning small business and moving to the 5 million plus space.  There is surely less demand out there but for the small business that needs a loan/lease there are few options and FASB looking to change mark to market is very scary.We had our banker in our office today and we spoke about the Accounting lobbyists and what it means for our space.  I am very concerned this is 1933 all over again.  A major lender is abandoning the small business space and 3rd party originations which is US Bancorp.  They are the nations 3rd largest bank, took TARP, and are leaving entrepreneurs abandoned.I have not been writing the last few months but will become very vocal about my views on entrepreneurs, lending, and the America I love.

We finished our First Vendor Boot Camp yesterday and had some great feedback.  This was the first time this seminar was put on so I am excited to see the attendees got a tremendous amount of value out of the 4 hours. 

 The main interest was:

 Pricing and Proposals

Benefits of leasing

How to incorporate leasing into their sales process

This was the first of many.  If anyone is interested please shoot me an email and I can let you know about upcoming events.

With the information overload of the bailout I thought this was very interesting.  I saw this on the National Association of Equipment Lease Brokers site www.naelb.com and I thought it was very relevent to small business owners to give the government perspective. 

How many zeros in a billion?
This is too true to be funny. The next time you hear a politician use the
word ‘billion’ in a casual manner, think about
whether you want the ‘politicians’ spending
YOUR tax money. A billion is a difficult number to comprehend,
but one advertising agency did a good job of
putting that figure into some perspective in
one of it’s releases.
A.

A billion seconds ago it was 1959.B.
A billion minutes ago Jesus was alive .C.

A billion hours ago our ancestors were
living in the Stone Age.D.
A billion days ago no-one walked on the earth on two feet.E.
A billion dollars ago was only
8 hours and 20 minutes,
at the rate our government

is spending it.

While this thought is still fresh in our brain…
let’s take a look at New Orleans …
It’s amazing what you can learn with some simple division.
Louisiana Senator,
Mary Landrieu (D)
is presently asking Congress for
250 BILLION DOLLARS
to rebuild New Orleans . Interesting number…
what does it mean?A.

Well… if you are one of the 484,674 residents of New Orleans
(every man, woman, and child)
you each get $516,528. B.
Or… if you have one of the 188,251 homes in New Orleans, your home gets $1,329,787.C.

Or… if you are a family of four…
your family gets $2,066,012.Washington , D. C

< HELLO! >
Are all your calculators broken?? Accounts Receivable Tax
Building Permit Tax
CDL License Tax
Cigarette Tax

Corporate Income Tax
Dog License Tax
Federal Income Tax < BR>Federal Unemployment Tax (FUTA)
Fishing License Tax
Food License Tax
Fuel Permit Tax
Gasoline Tax
Hunting License Tax
Inh erit ance Tax
Inventory Tax
IRS Interest Charges (tax on top of tax)
IRS Penalties (tax on top of tax)
Liquor Tax
Luxury Tax
Marriage License Tax
Medicare Tax
Property Tax
Real Estate Tax
Service charge taxes
Social Security Tax
Road Usage Tax (Truckers)
Sales Taxes
Recreational Vehicle Tax
School Tax
State Income Tax
State Unemployment Tax (SUTA)
Telephone Federal Excise Tax
Telephone Federal Universal Service Fee Tax
Telephone Federal, State and Local Surcharge Tax
Telephone Minimum Usage Surcharge Tax
Telephone Recurring and Non-recurring Charges Tax
Telephone State and Local Tax
Telephone Usage Charge Tax
Utility Tax
Vehicle License Registration Tax
Vehicle Sales Tax
Watercraft Registration Tax
Well Permit Tax
Workers Compensation Tax STILL THINK THIS IS FUNNY? Not one of these taxes existed 100 years ago..
and our nation was the most prosperous in the world.

We had absolutely no national debt…
We had the largest middle class in the world…
and Mom stayed home to raise the kids. What happened?

Can you spell ‘politicians!’ And I still have to
press ‘1′
for English.

It has long been said that if you live long enough you will see everything.  That is never more true than in the realm of small business.  Last year I bought a new boat before the gas was $5.25 on the water which it is today.  I told the sellers broker that I financed small business’s equipment.  A year almost to the day he called me and asked if I might be able to finance his friends business which a boat club franchise.  It is especially gratifying to finance equipment you love and I love boats.

Although we had not financed any boats in the past I was hopefully optimistic we could put the financing together at eLease.  When I learned more about the business and the insurance they needed to carry to operate the club I was very impressed and felt comfortable with the financing.  We structured a 36 month Equipment Finance Agreement which would allow them to payoff early and also gave them true ownership in the equipment which protects us in case of one of their members gets in an accident.  So in the end the situation was win win. 

 I especially like to finance different equipment because you learn so much about the equipment.  See you on the water!