What You Need to Know Now

ELFA Board Focuses on Delivering Value to Members 

The ELFA Board of Directors met virtually in May under the leadership of Board Chair Kris Snow. During the Board meeting, ELFA leaders deliberated over a number of high-priority items focusing on the strategic direction of the association and the ultimate goal of ensuring that ELFA programs, products and services are responsive and continue to deliver value  to members. 

This was the third ELFA Board meeting held virtually due to the COVID pandemic. As the U.S. begins to emerge from the pandemic, members discussed their return to office plans, the 2021 business outlook and their pandemic takeaways. 

ELFA President and CEO Ralph Petta and staff offered updates on a variety of association activities, reporting solid membership renewal/recruitment and event attendance and an active state and federal advocacy agenda. Staff also shared updates on plans for the 60th ELFA Annual Convention, which will be held both in-person and virtually on Oct. 24-26.

Treasurer Dan Krajewski reported that the association is on target to meet its overall 2021 budget. The Nominating Committee has assembled a strong slate of candidates for Directors and Officers, which will be voted on by the ELFA membership prior to the Annual Convention in October. 

Foundation Chair Scott Thacker offered an update on the activities of the Equipment Leasing & Finance Foundation. 

The Board will meet next in October at the site of the ELFA Annual Convention in San Antonio. Its Executive Committee will conduct its summer meeting in August.

Join the ELFA Engage App Challenge!   

Did you pick up a new hobby or skill during the pandemic? Post it in the Engage Wall within the ELFA Engage mobile app for your chance to win! Whether you baked bread (assuming you could find flour and yeast), mastered a musical instrument or perfected your Italian, ELFA wants to know! ELFA members who post a picture and share your new pandemic hobby or skill in the Engage Wall by Aug. 31 will be entered to win a $25 Amazon Prime gift card and ELFA Swag. #ELFAMugClub. Learn more.  And the Winner Is...Congrats to Melissa McCuaig of Stryker, Flex Financial, winner of the April ELFA Engage app contest. Melissa shared her excitement for the Women’s Leadership Forum on the Engage Wall of the app.

What’s the Economic Impact of Equipment Finance? 

Equipment finance not only contributes to businesses’ success, but to U.S. economic growth, manufacturing and jobs. On ELFA’s Economic Impact webpage, check out an interactive map that reveals a state-by-state breakdown of the nearly $1 trillion equipment finance industry. Also, download fact sheets illustrating specific industry information for each state. See total business volume, percent change year-over-year and state rankings. Learn more

Delve Into Industry Hot Topics 

Have you visited the Industry Topics pages on the ELFA website? These pages are a “one-stop-shop” showcasing information on 15 key topic areas from ELFA and the Foundation. Topics include Data, Benchmarking & Forecasting; Electronic Documents; Equipment Management; Funding & Alternative Finance; Human Capital; Lease Accounting; Legal Resources; Operations & Technology; Risk Management, Vertical Markets and more! Learn more

ELFA Introduces New “People Power” Resources 

ELFA’s aspiration as an association is that the people powering the great equipment finance sector will represent a wide range of backgrounds and perspectives. Together with our member companies, ELFA is advancing initiatives to support equality, diversity and inclusion in everything we do. Read about these efforts and access resources for your organization in the new “People Power” section of the ELFA website, including Diversity, Equity & Inclusion; Emerging Talent; and Women’s Leadership. Learn more

Membership Minute

Need an easy solution to connect with other ELFA members and stay informed on the latest member and industry news? Download the ELFA Engage mobile app today and conveniently gain access to member resources and information through your smartphone. Wherever you are, you can easily connect with your peers and stay up-to-date on critical industry news and trends. The new app, available for both iOS and Android, serves as ELFA’s hub for content, collaboration and events. Contact [email protected] with questions. 

Ask a Leader:
Information or Instinct? 

Check out the latest “Ask a Leader” interview with Wayne Peters, VP of Global Financial Solutions at Tech Data Capital. Wayne shares how he approaches decisions and offers three valuable pieces of advice for those entering the equipment finance industry. This insightful interview series is sponsored by the Emerging Talent Advisory Council. Learn more

Inspired by Pride Month 

During the month of June, the ELFA Equality Committee recognized Pride Month through several initiatives: 

June App Challenge – The Equality Committee hosted a contest on the ELFA Engage app in support the Committee’s “Out and Proud in Equipment Finance” initiative. All members who posted about Pride Month were entered to win a 
special ELFA cocktail package. 

ELFA Pride Logo – ELFA incorporated a rainbow motif into the association’s logo and social media properties for the month of June, to signal the association’s support for diversity, equity and inclusion and the LGBTQ+ community.

Podcast Interview – Equality Committee member Stuart Papavassiliou hosted an interview on the Equipment Finance Matters podcast. He and podcast host Alexa Carnibella interviewed Ben Grove, Legislative Director at Thompson Coburn and President of Q Street, the professional nonprofit association of LGBTQ lobbyists and public policy advocates promoting LGBTQ equality and community.

Webinars Tackle Hot Topics 

Register today for an upcoming ELFA Webinar, including:
• Aug. 19 - Reaching Your Customer in a Digital World
• Aug. 25 - Credit Managers Survey
• Sept. 1 - Collections Managers Survey 
These one-hour events are designed to provide critical information to equipment finance professionals on a series of hot topics. Learn more

Join the Innovation Roundtable on Aug. 26 

Forward-thinking equipment finance leaders are actively seeking the next breakthrough. Find out what is on the mind of your peers, share ideas and discover new approaches for tackling your innovation challenges at the Innovation Roundtable on Aug. 26. This virtual event will be hosted by ELFA’s Technology Innovation Working Group and Deb Reuben of TomorrowZone. Learn more 

Registration Open for Operations & Technology Conference LIVE!  

Operations & Technology Conference LIVE! is going virtual! Join us, Sept. 14 for a fantastic one-day event—virtually! With a conference theme on everyone’s minds these days—The Future of Work—hear from our industry experts to help YOU address this ever growing and changing topic. Don’t miss top-notch sessions, discussions and experts on The Future of Work, what it will look like, how it will function, what we can all expect and what we want! This is sure to be a great event for all levels within our organizations who are wondering what The Future of Work will look like. For more information and to register, go to: www.elfaonline.org/events/2021/OT/.

Calling all Equipment Finance Accounting Professionals 

Lease and Finance Accountants Conference LIVE! on Sept. 14 will provide the most-up-to-date information on accounting issues that impact lessors and their clients. Offering sessions and discussions, and providing experts on industry hot topics, this virtual conference will be vital to all career levels within the equipment finance industry. For more information and to register, go to: www.elfaonline.org/events/2021/LAC/.

Reserve Your Spot in the Principles Workshop  

Your people are still your best assets—make sure that you’ve given them the skills and knowledge needed to compete effectively in the marketplace. For over 20 years, the Principles of Equipment Leasing and Finance Workshop has helped your sales force become more confident when meeting with potential customers, and given your operations staff a greater understanding of how the equipment finance business works, and where their individual responsibilities fit into the workflow. The fall workshop on Sept. 20-24 will include three interactive sessions held every other day and class size will be kept small to maximize student-instructor interaction and attention. Learn more

Best Practices Roundtables Go Virtual

The Independent, Bank, Small Ticket and Captive and Vendor Finance Best Practices Roundtables were held virtually this year and the conversation was just as lively and informative! Below is a summary of each.

Independent Best Practices Roundtable – More than 40 members attended this year’s virtual roundtable led by Deb Reuben of TomorrowZone on April 29, with discussions revolving around the theme “Your Technology Roadmap: Challenges, Solutions and What’s Next.” Access to the recorded opening and closing sessions is available to members upon request.

Bank Best Practices Roundtable – On May 27 more than 60 attendees enjoyed a lively discussion with legal experts on the complexities of navigating e-docs. Access to the recorded opening and closing sessions is available to members upon request. Sponsored by Equifax. 

Small Ticket Best Practices Roundtable – A total of 50+ attendees from ELFA small ticket member companies attended the virtual roundtable on June 3. This year’s topic was “Automating the Application Process.” Access to the recorded opening and closing sessions is available to members upon request. Sponsored by Alliance Funding Group. 

Captive and Vendor Finance Best Practices Roundtable – Held on June 17 with more than 45 attendees, this year’s roundtable focused on consumption-based leasing as a creative way to recover and thrive in a post-pandemic world. Access to the recorded opening and closing sessions is available to members upon request. Sponsored by Alliance Funding Group.

Spotlight On: Credit and Collections 

With a fantastic overall attendance, 32 first-time attendees and wonderfully supportive sponsors, Credit & Collections Management LIVE! on June 7-8 was a resounding success. The conference theme, “Managing Risk in a New World,” was conceptualized throughout the event sessions with discussions on “What We Learned from the Pandemic” from both a credit and collections professionals’ perspective all the way to “The Other Side of the Pandemic” and what we are all taking away from the past 15 months. The keynote speaker, Tom Jalics with Fifth Third Bank, was a conference favorite, providing a discussion on the economy, in both what we just experienced and what the foreseeable future may hold. The virtual experience was one for the record books, but all attendees, sponsors, speakers and committee members agree, we are looking forward to in-person events once again! Save the Date for the 2022 Credit and Collections Management Conference, June 6-8, 2022 at the Hilton Palacio Del Rio in San Antonio, Texas! 

Missed a Webinar? We’ve Got You Covered  

If you missed a recent ELFA webinar,  you can access the recordings and slides from more than 30 webinars presented over the past year at www.elfaonline.org/events/elearning/web-seminars. Recent recordings include:
• Technology & Digitalization
• The Future of Remote Work
• Vendor Financing: Research Based Digital Experience
• eSigning and eLeasing: What Do You Want To Know?

Emerging Leaders Look to the Future!

Now in its third year, Emergence2021 on July 14 brought emerging talent from the equipment finance industry together for a one-day virtual leadership workshop. Focused on the theme “Look to the Future!” attendees engaged in hands-on workshops with renowned emerging leadership speaker Pierre Quinn and futurist Terry Grim. They also enjoyed hearing panel discussions led by former Emerging Talent Advisory Council members and building a leadership toolkit in a world focused on diversity, equity and inclusion. The workshop was followed by a networking hour to allow attendees to further strengthen their connections. Your next chance to attend a (virtual) networking event is Sept. 13. Don’t miss it! There is no cost to attend but space is limited. Learn more

 

ELFA Participates in NOBEL Women

ELFA is a proud and active supporter of the National Organization of Black Elected Legislative Women (NOBEL Women), and ELFA’s Vice President of State Relations Scott Riehl is a member of NOBEL’s Business Advisory Council. NOBEL Women is a non-profit, non-partisan organization primarily composed of current and former black women legislators as well as many appointed officials. ELFA is a focused sponsor of NOBEL’s Girls, Gigabytes and Gadgets (3G) program, an innovative, day-long series of workshops designed to get young women and girls engaged in careers in science, technology, engineering, arts/ design and mathematics. The event consists of multiple workshops featuring topics that range from app development to social media mastery and has one simple message: Women aren’t just to be users of technology, but creators, designers, influencers and decision makers as well. Learn more