eLease Equipment Leasing

Electric Bike Equipment Leasing for California Resort.

TomW — Fri, 04 May 2012 13:11:09 +0000

So what do you do if you live on an island without cars? The island is too big to walk for the average person to navigate as well as several high hills. Along comes Mr. Entrepreur who has the goal of providing visitors the ability to see the entire island and when they need a little help they can turn on the electric motor.

I love financing this type of entrepreneur because he is filling a tremendous need in his market and not just a need. Straight forward business model and much needed. We did an equipment lease for 15K for 36 months for this business and he gets to ride away with the profits and increased cash flow.

Small Business Increase in Equipment Demand!

TomW — Tue, 24 Apr 2012 18:33:29 +0000

Equipment Leasing and Finance Association’s

Survey of Economic Activity: Monthly Leasing and Finance Index

March New Business Volume Up by 10 Percent Year-over-year, 36 Percent Over February

Washington, DC, April 24, 2012— The Equipment Leasing and Finance Association’s (ELFA) Monthly Leasing and Finance Index (MLFI-25), which reports economic activity for the $628 billion equipment finance sector, showed overall new business volume for March was $6.8 billion, up 10 percent from volume of $6.2 billion in the same period in 2011. Volume was up 36 percent from the previous month. Year-to-date cumulative new business volume is up 17 percent.

Receivables over 30 days increased to 2.8 percent in March, up from 2.5 percent in February, and down by 20 percent compared to the same period in 2011. Charge-offs increased to 0.7 percent, up from 0.5 percent the previous month, and down by 46 percent compared to the same period last year.

Credit approvals dipped slightly to 78 percent in March from 79 percent in February. More than 66 percent of participating organizations reported submitting more transactions for approval during March, up from 62 percent in February.

Finally, total headcount for equipment finance companies in March decreased 0.7 percent from the previous month, and was down 3.4 percent year over year. Supplemental data show that the construction and trucking industries continued to lead the underperforming sectors.

Separately, the Equipment Leasing & Finance Foundation’s Monthly Confidence Index (MCI-EFI) for April is 62.1, up slightly from the March index of 61.7, and the fourth consecutive month of increases, indicating industry participants’ optimism is slowly but steadily rising. For more detailed information on the MCI-EFI visit www.LeaseFoundation.org

ELFA President and CEO William G. Sutton, CAE, said: “Growth in new business volume appears to be easing somewhat as we head into the summer months. Increases in originations of the magnitude we have experienced during the past two to three years in a recovery mode are probably not sustainable. Nevertheless, a 10 percent rate of growth for the period continues a positive trend by businesses to make capex investments in productive assets. Credit quality metrics appear to be stabilizing, returning to pre-recession levels.”

John McQueen, Executive Vice President and Head of Wells Fargo Equipment Finance, headquartered in Minneapolis, MN, said, “We started to see a positive change in the equipment finance market in Q4-2010 with increased demand and reduced portfolio delinquency. In my perspective, demand for new equipment was being driven by a combination of factors. These factors include thereplacement cycle for older equipment that businesses had been using for longer periods due to a weakening economy as well as companies focusing on acquiring equipment to improve efficiency. As we enter 2012, we’ve seen a continuation of these trends as Wells Fargo Equipment Finance had record financial performance in 2011, and we continued this momentum during Q1 with 11.5% year-over-year volume growth, a 17.0% backlog increase, strong transaction spreads, and continued portfolio quality improvement.”

About the ELFA’s MLFI-25

The MLFI-25 is the only index that reflects capex, or the volume of commercial equipment financed in the U.S. The MLFI-25 is released globally at 8 a.m. Eastern time from Washington, D.C., each month, on the day before the U.S. Department of Commerce releases the durable goods report. The MLFI-25 is a financial indicator that complements the durable goods report and other economic indexes, including the Institute for Supply Management Index, which reports economic activity in the manufacturing sector. Together with the MLFI-25 these reports provide a complete view of the status of productive assets in the U.S. economy: equipment produced, acquired and financed.

The MLFI-25 is a time series that reflects two years of business activity for the 25 companies currently participating in the survey. The latest MLFI-25, including methodology and participants is available below and also at http://www.elfaonline.org/Research/MLFI/

MLFI-25 Methodology

The ELFA produces the MLFI-25 survey to help member organizations achieve competitive advantage by providing them with leading-edge research and benchmarking information to support strategic business decision making.

The MLFI-25 is a barometer of the trends in U.S. capital equipment investment. Five components are included in the survey: new business volume (originations), aging of receivables, charge-offs, credit approval ratios, (approved vs. submitted) and headcount for the equipment finance business.

The MLFI-25 measures monthly commercial equipment lease and loan activity as reported by participating ELFA member equipment finance companies representing a cross section of the equipment finance sector, including small ticket, middle-market, large ticket, bank, captive and independent leasing and finance companies. Based on hard survey data, the responses mirror the economic activity of the broader equipment finance sector and current business conditions nationally.

Why I love Financing Pizza Entrepreneurs.

TomW — Mon, 09 Apr 2012 13:53:50 +0000

Whenever I ask a Pizza Entrepreneur what makes their pizza so good. I think it is very unique that each of them actually may have the best pizza in their area. It is also extremely interesting that they have thier niche and their customers love them for it.

Technology is changing in the pizza business all the time. eLease finances point of sale systems for pizzerias or newer computerized pizza ovens. Gluten is also making its way into the pizza business as well. Did you know that the last 2 years the restaurant concept of the year has been BrewPub (microbrewery) and pizza? It is especially great when two of my favorite things combine under one roof.

eLease financed 6 Pizza concepts in March and I have learned two things over my 15 years in this business. Pizza people pay their bills and never call during lunch or dinner rush or prep or it won’t go well or unless you have really good news.

When Pizza Parlors utilize equipment leasing it is like getting an extra pepperoni for free. They don’t have to outlay the money and the efficiency they gain only costs them an affordable monthly payment. All this writing is making me hungry!

The Ale and The Witch- Entrepreneurs Helping Entrepreneurs

TomW — Fri, 03 Feb 2012 16:51:51 +0000

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!

Winning and Loosing as Entrepreneurs

TomW — Wed, 25 Jan 2012 14:37:23 +0000

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……..

Excellent Video on Selling and Value

TomW — Fri, 13 Jan 2012 23:09:26 +0000

Aaron Ross does a great video on adding value and not selling.

I think every entrpreneur needs to focus on their skills and knowledge and less on their products. I think we all get so wrapped up in our products we forget how much value and expertise the customer gains when they purchase from you.

I am huge fan of Aaron’s and he was the Co-Founder of eLease in its early days. I am still learning from him.

Trials and Tribulations of the small medical practice

TomW — Fri, 06 Jan 2012 16:41:28 +0000

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.

Bank Line Renewals vs Term Debt with Lease Financing

TomW — Wed, 22 Jun 2011 01:26:36 +0000

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!

Being the Anti Bank

TomW — Tue, 10 May 2011 17:53:38 +0000

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.

USF Entreprenuer Program Business Plan Pitch

TomW — Wed, 27 Apr 2011 17:47:54 +0000

First of all how refreshing to see people seeking to change the world!

I am always impressed with eager young entrepreneurs who are looking at creating opportunities in difficult times. I was very impressed with the facility at USF as well at Sean Lux the Professor who is in charge of the program. The pitches ranged from restaurant concepts to clean energy and some needed 1 million to start and other 30k.

In all of the negative news of America loosing its footing in the world I would say maybe some of these economists should come and see some of the young future titans of business. I appreciate USF inviting me and experiencing the bliss of new entrepreneurs. This road is not always easy but it is the most rewarding journey you can have in live.

Sleep well America as there are eager entrepreneurs creating future industries out there. God I wish I were 25 again!