ELFA Board Meets Virtually
The ELFA Board of Directors met via video-conference on May 19 under the leadership of Board Chair Martha Ahlers. The meeting was originally scheduled to take place in Washington, D.C., in conjunction with the association’s annual Capitol Connections event; however, due to the COVID-19 pandemic, the meeting was held virtually for the first time.
During the 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—despite the challenges presented by the COVID-19 crisis.
The Board discussed the status of ELFA in-person events, many of which have been cancelled due to the pandemic. While this has resulted in a drop in revenue, ELFA staff has taken steps to reduce expenses in a number of areas. In the absence of in-person events, ELFA is conducting weekly online seminars to continue delivering compelling content to members during the pandemic. These events have attracted more than 3,000 participants.
U.S. Rep. Josh Gottheimer joined the meeting and updated the Board on the federal government’s response to the pandemic and the possibility of further economic stimulus being considered by Congress. Not missing a beat, ELFA’s federal and state advocacy programs continue to take an active role in ensuring that the industry’s voice is heard on Capitol Hill and in the states.
The Board is scheduled to meet next in October. Its Executive Committee conducts its summer meeting in August.
Leadership Convenes
Some 60 current and former ELFA directors and Foundation trustees gathered in June for an update on the state of the association. U.S. Sen. Ron Wyden, Ranking Member of the Senate Finance Committee, joined the call to share his perspective on the state of affairs on Capitol Hill.Wednesday Webinars Take Off
More than 3,000 attendees have participated in ELFA’s popular “Wednesday Webinars @1” series created to provide critical information to equipment finance professionals in the face of the global COVID-19 pandemic. The webinars have engaged members on a series of hot topics—from e-leasing to loan modifications—and allowed attendees to ask questions during interactive Q&A sessions. Recordings for all past events, plus key takeaways and select handouts for many of the events, are available at www.elfaonline.org/events/elearning/web-seminars, including:- Navigating Machine & Equipment Valuation
- Coronavirus and the U.S. Economy
- Federal Gov’t. Response to COVID-19 Pandemic
- Cybersecurity and Fraud in the COVID-19 Environment
- e-Signatures and e-Leases in the COVID-19 World
- Operational Resiliency
- Pandemic Politics
- Lease and Loan Modifications and Restructurings
- COVID-19’s Hidden Costs: Bankruptcy, Repossessions & Challenging Legislation
- Building a Foundation for Digital Agility
- Best Practices for Managing Sales Tax in Turbulent Times
- Bold Conversations to Effect Positive Change-Striving for Equality
- Introduction to Unconscious Bias
Membership Minute
Check Out the New Features in the ELFA Engage Mobile App!
Keeping current on industry news or staying connected has never been easier through your smart device. Share messages and photos on the new Engage wall or click the Connect icon and easily access ELFA’s online discussion groups. Download the ELFA Engage mobile app today and discover new ways to connect with ELFA and your peers virtually. Contact [email protected] with questions.State and Local Coronavirus Updates
To monitor the response of state and local governments to the coronavirus, ELFA’s state legislative tracking partners at Multistate Associates and Vertex have created helpful tools that offer state-specific critical information, including: - COVID-19 State Reopening Guide
- COVID-19 Policy Tracker
- State Tax Filing Date Changes/Extensions
ELFA Academy Launches New Online Course
Learn from the experts without leaving your office: The new Equipment Finance Transaction Lifecycle online course from ELFA Academy takes you step-by-step through the lifecycle of an equipment finance transaction—from origination through termination. As you explore each lifecycle step, you’ll focus on the 4Ps: the purpose, people, policies and paperwork tied to it. Learn more and watch a video preview.
Annual Report Highlights ELFA’s Value Proposition
The theme of the ELFA Annual Report, “We Are ELFA,” celebrates the association’s community of professionals who come together to engage with each other, learn from each other and advocate for the equipment finance industry and its important role in our economy. Learn more at www.elfaonline.org/about/.Former ELFA Chair Jim Ambrose Announces Retirement
James J. Ambrose, long-time President of GE Healthcare Financial Services, has retired, effective June 30, 2020.Ambrose served as ELFA Board Chair in 2009, at a time when the equipment finance industry faced significant challenges resulting from the Great Recession. During Ambrose’s tenure, which was marked by tremendous upheaval in the capital markets and the economy, the membership benefited from his leadership and global financial experience.
Ambrose was an active member of ELFA for two decades and held various leadership positions with the association as Chairman-elect, Vice Chairman, Director and as a member of the Finance Committee of the Board. He also was a supporter of the Equipment Leasing & Finance Foundation.
He served 38 years within the GE organization, where he held leadership positions in marketing, product management and sales. He earned a B.S. in Computer Science from Boston College and an MBA in Finance from New York University Stern School of Business.
Stay Connected via ELFA Online Communities
ELFA’s members-only online communities (LeaseTalk, AcctgTalk, LegalTalk and TaxTalk) allow you to virtually tap into the collective knowledge of the ELFA membership during this time of social distancing. We invite you to join the communities to network, share ideas and exchange best practices with your peers. Visit https://connect.elfaonline.org to get started. Questions? Contact [email protected].Looking for Historical Data on Equipment Finance?
You’re not alone. Many ELFA members are turning to the SEFA Interactive Dashboard, which contains key findings from the Survey of Equipment Finance Activity dating back to 2006. Access this powerful online platform today to drill down into the data you care about, in just a few clicks. This resource is free and available to members only. For customized drill downs of historical survey data, contact Bill Choi at [email protected].
Ask a Leader: Interview with Dave Fate
Check out the latest “Ask a Leader” interview with Dave Fate, Founder, President & CEO of Stonebriar Commercial Finance. Learn the meaning behind Fate’s motto “Take every meeting.” Also, learn why you should be the person who fills the refrigerator with water and the copy machine with paper! This interview series is sponsored by the Emerging Talent Advisory Council. Read more.Track the Federal Response to COVID-19
Looking for the latest information regarding the federal government’s response to the COVID-19 crisis and how ELFA is engaging with policymakers? Visit the Federal COVID-19 Response webpage, updated daily. The page includes information both to help you understand the government’s response and to help you point your customers to resources that may become available to them.Share:
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