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!

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.
�

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!

I would suggest that the best way to get people back to work is to help them start their own business.  We have a customer who has created a new way of life and income with a turnkey business of $141.00 per month.  Pretty amazing when you think about it.  It is estimated that each job created in the Recovery Act cost taxpayers over $70,000 per job. 

 Here is a gentleman who is doing it with a rounding error of that money.  Maybe the government needs to take a Micro Economics class instead of Macro.  Everyday I feel blesseed to work with the entrepreneurs in this country who are striving to make a difference and making lemonaid out of lemons.

 Would you like ketchup or mustard with your lease payment???

June Machine Tool Consumption Up 35 PercentAug 10, 2010Domestic sales of machine tools totaled $241.47 million during June, according to the monthly U.S. Manufacturing Technology Consumption survey conducted by the Association For Manufacturing Technology and the American Machine Tool Distributors’ Association. The percent is an increase compared to 35.8 percent from May to June, and 71.1 percent from June 2009. “Typically, manufacturing technology order rates slow down in the months leading up to the International Manufacturing Technology Show,” said AMT President Douglas Woods. “However, increased foreign direct investment and a doubling of orders in aerospace and construction equipment through the first half 2010 resulted in an acceleration of USMTC orders rather than the typical slow down.” In the regional consumption reports, the USMTC finds that the Northeast had machine tool sales of $51.4 million during June. The total was an increase 52.3 percent compared with May’s $33.78 million, and up 90.8 percent compared with June 2009. At $210.61 million, regional demand is 33.2 percent higher than it was in June 2009. In the South, June consumption amounted to $34.5 million, 18.5 percent above the May figure ($29.1 million) and 36.5 percent higher than the June 2009 total. Southern demand for the year-to-date amounts to $188.98 million, up 75 percent compared to the same period in 2009. Midwest regional machine tool consumption stood at $72.8 million during June, a rise of 69.3 percent from May ($43 million) and was 82.8 percent from June 2009. For the January-June 2010 period, Midwestern machine tool consumption amounts to $335.1 million, 51.4 percent more than during the first six months of 2009. The Central states manufacturing technology consumption totaled $57.1 million during June, up 7.1 percent over May ($53.3 million) and up 96.9 percent compared with June 2009. For the year to date, the Central region posted machine tool consumption of $329.3 million, up 85.3 percent over January-June 2009. June consumption in the Western Region totaled $25.5 million, up 37.5 percent from May ($18.6 mil-lion) and up 27.6 percent compared with June 2009. Year-to-date regional consumption has been $143.6 million, up 32.8 percent compared to the same six-month period of 2009. The United States Manufacturing Technology Consumption report is compiled monthly by the two trade associations, which represent machine shops and machine tool distributors. Based on actual date reported by participating companies, the USMTC presents regional and national U.S. consumption data of domestic and imported machine tools and related equipment.  

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.

If you are  an entrepreneur which has managed to survive and even thrive in this market I applaud you.  I do believe this is the worst economic cycle I have lived through and will most likely be one of the worst for our country.  I also believe we are turning the corner in this economy but not for the same reasons Wall Street points to.I have long believed small business is the engine and the backbone of this country and these business’s do much of the heavy lifting in this world.  I have had the pleasure to talk with many brand new entrepreneurs who are looking to change the world and have a new sense of vigor and courage that some of us might have lost after the last 2 years or so.  For my industry specifically it is apparent that the shine has worn off the penny and work became less fun and painful at times.In dealing with these newly minted entrepreneurs I am refreshed and enlightened about this concept called Capitalism in this place called America.  I would never bet against this economy and our way our life because there are too many smart people creating new opportunities and it is ingrained in our culture to create value and opportunities.  For that reason I think the recession is over.  There are so many people capitalizing on opportunities and inefficiencies in the market place.I fear has always falls back to the people in Washington who we elect.  I would really like to see some tax incentives for REAL small business’s under 20 employees to start getting some people back to work and return to some sustained level of growth.  These companies are the real engine of growth and and creating real jobs.On the leasing side credit is still excruciatingly tight but not impossible.  We lend in the new normal of what small business lending has become.  Things get done because both parties want to succeed as they always have and always will.  Some things never change.

In my opinion, there are only two seasons in the snow industry: ski season and preparing for ski season. In the off-season critical decisions are made regarding investments in equipment and capital improvements that are needed to maximize the experience of guests, stay competitive in the marketplace, and upgrade to newer technology. Of course these decisions need to be implemented before the mountain is in its high revenue cycle and cash flow positive.

Ski business or not, the goal of any company is always to maximize cash flow and to match the timing of lease payments with the income being generated by your business and its new equipment. Seasonal trends are common in several sectors including consumer electronics, hotels, restaurants and department stores.

eLease has developed a Snow Resort Financing Program that provides the convenience of seasonal payments, which are ONLY due during when the mountain’s busy season. By matching the payment with the revenue cycle we can maximize your cash flow during the off-season and avoid negative cash flow on equipment. Additionally, seasonal payments give you the advantage of getting a jump on the season. You’ll have your new equipment delivered, installed, and tested months before your first payment is due.

The benefits of leasing equipment become crystal clear when your equipment payment is tied to the revenue stream of your business. I’m not telling you anything new, but traditional financing that requires payments 12 months of the year throughout the term of the lease can be a heavy burden on seasonal businesses. Particularly when you generate nearly 100% of revenue within a 5-month period.

If you’re interested in learning more about our Snow Resort Financing Program or are curious to find out what your monthly payments would be on a snow making purchase, please feel free to contact me. We’d really like to help. Thanks for your interest and have a great season.