WHAT'S HAPPENING in the independent middle market sector of the equipment finance space? Equipment Leasing & Finance magazine caught up with Ricardo Rios, CFA, CLFP, Chair of the Independent Middle Market Business Council Steering Committee (BCSC), to take the pulse of this sector. Rios, COO of Commercial Equipment Finance, Inc., is currently serving his second year as Chair of the committee, which engages independent finance and multiline finance companies involved in transactions between $250,000 and $5 million, either individually or through lines.
From your perspective serving on the Independent Middle Market BCSC, what issues are independent equipment finance companies focused on this year?
2020 brought disruption and turbulence to member business models and industries. Nonetheless, independents continued to do business, survive and even thrive. As we look forward to emerging from the pandemic, it’s a good time to be an independent. The Independent Middle Market BCSC hosted a session at ELFA 2020 Business LIVE! and we talked about how independents have a tradition of being nimble and able to adapt and thrive amid volatility. Although 2021 won’t be without its challenges, independents are well positioned to use our unique equipment and industry knowledge to take advantage of new opportunities in the current environment.We recently asked the Independent Middle Market BCSC what industry topics are at the forefront of their businesses, and their top three responses were: (1) Originations, (2) Funding Capacity and Funding Alternatives and (3) Credit Quality. We are planning a larger survey of the ELFA membership to delve deeper into what issues are top of mind for independents. In addition, we are currently planning a virtual Independent Best Practices Roundtable to be held this spring. This will be a terrific, interactive opportunity to learn and network together. We hope to see all independent members there!
What do you like best about serving on a BCSC?
I enjoy the opportunity to network with fellow independents. Our committee is diverse, and the member companies vary in size, geography, equipment and industry focus. Even though we have unique approaches to the market, we share common challenges. Serving on the committee has been a great opportunity to engage more fully in the association and to develop new friendships with fellow members.
Join the Roundtables!
The Captive and Vendor Finance, Financial Institutions, Independent Middle Market and Small-Ticket BCSCs are planning best practices roundtables for 2021. Watch for details this spring at www.elfaonline.org/events.About the BCSCs
ELFA’s Business Council Steering Committees represent ELFA’s five key business segments: Captive and Vendor Finance, Financial Institutions, Independent Middle Market, Service Providers and Small Ticket. The committees pursue priorities related to their distinct memberships and integrate their work into the overall goals of the association. Activities include membership recruitment and grassroots political advocacy, contributing to industry research, presenting the Foundation’s Guest Lecture Program and attending and contributing to the success of Capitol Connections and the Annual Convention. Interested in joining? Contact Ed Rosen at [email protected].
Share:
Article Tags:
EL&F magazine article
Business Council Update
Department
2021