5 Minutes with the Independents Chair Jonathan Albin of Nexseer Capital

What’s happening in the Independent sector of the equipment finance space? Equipment Leasing & Finance magazine caught up with Jonathan Albin, Chair of the Independent Business Council Steering Committee (BCSC), to take the pulse of this sector. Albin, COO at Nexseer Capital, is currently serving his first year as Chair of the committee, which includes non-bank-owned organizations that provide financing through lines of credit, discounting relationships or other funding vehicles.

From your perspective serving on the Independent BCSC, what issues are independent equipment finance companies focused on this year?

Obviously, it’s been a challenging couple of years. We’ve seen a fair amount of disruption personally and professionally. We’ve tackled challenges that we did not anticipate. First and foremost, I think everyone is hoping that we see an emergence from this pandemic and a return to normal. 

Beyond that, I think Independents are looking to grow their businesses in a highly competitive environment. We surveyed our committee members prior to our initial meeting. When we asked what the main topics of focus for the committee are this year, the top 3 responses were 1) Pricing and Competition, 2) Recruiting and 3) Supply Chain issues. I think that paints an interesting picture of the business environment as we start 2022.

Our sector and our committee are diverse, and the member companies vary in size, geography, originations model, asset and industry focus. Even though we have unique approaches to the market, we share common challenges. 

Independents have a track record of being nimble and using their expertise to adapt to these challenges and I would fully expect that to continue. I see many Independents with strong access to capital and attractive origination models. 

How did you get involved with the BCSC? Would you recommend it to others?

I became involved in the BCSC when another of our team members rolled off. I thought it would be a great opportunity to network with other members, and get exposure to the issues impacting Independents and our industry. My participation in the steering committee has been extremely enjoyable and valuable. I really appreciate the people I’ve met and the opportunity to be more engaged with ELFA and the industry. I would absolutely recommend participation to anyone looking to build relationships, deepen their involvement with our industry, and meet great people.