What You Need to Know Now

Do You Have What It Takes to Be the Boss?

Find out with the new Fundamentals of Equipment Leasing and Finance online course

ELFA has launched a brand-new version of its flagship training course, Fundamentals of Equipment Leasing and Finance. The completely overhauled program engages users through an interactive, online interface that provides “virtual” hands-on experience and training in the fundamentals of equipment finance. The course—the only one of its kind for the $1 trillion equipment finance industry—is designed for those who are new to the equipment finance industry or those looking for a refresher on the industry fundamentals.

There’s nothing quite like hands-on experience to learn new skills, and the new Fundamentals of Equipment Leasing and Finance course gives learners the opportunity to run their own fictional equipment finance company. Users have a chance to “be the boss” and learn what’s involved in the day-to-day operations of an equipment finance company, navigating through customer interactions, identifying the departments and individuals that should be involved in each step, and earning badges and upgrades as they go. From closing the sale to fielding customer requests and reviewing end-of-lease options, the learner will receive guided feedback to reinforce learning.    

➤ Micro Lessons: The course is divided in to seven “micro lessons.” These lessons, which are 10 to 12 minutes each, allow learners to review the vital information that everyone new to the equipment finance industry should know. After each micro-lesson—which can be taken in any order—learners earn a badge that can be shared on social media. Topics include:

Lesson 1 – Introduction to Equipment Leasing and Finance
Lesson 2 – Origination Phase of the Transaction Lifecycle
Lesson 3 – Administration and Termination Phases
Lesson 4 – Leasing Law
Lesson 5 – Lease Accounting and Federal Tax
Lesson 6 – Types of Finance
Lesson 7 – Creating Successful Solutions

Access the Course: The new Fundamentals of Equipment Leasing and Finance online course is available to both ELFA members and nonmembers. The course is available for individual purchase as well as bulk purchase by companies that wish to train more than one employee at a time. For more information, visit www.elfaonline.org/events/fundamentals.

Data Deep Dive

The 2018 Survey of Equipment Finance Activity was the focus of the Research Committee’s meeting at ELFA headquarters in May. Learn more about the new 300-page report—and the Interactive SEFA Dashboard at www.elfaonline.org/SEFA.

ELFA Board Meeting Kicks Off Leadership Week

The ELFA Board of Directors met May 15 in Washington, D.C., under the leadership of Chairman Dave Schaefer. The meeting kicked off a busy week of association-related activities, which included the annual Capitol Connections grassroots program and meetings of the association’s Business Council Steering Committees. 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. The Board will meet next in October at the site of the ELFA Annual Convention in Phoenix. Its Executive Committee conducted its summer meeting July 30-31.

Join Emerging Talent in Philly

Calling all future leaders! Mix and mingle with some of the industry’s best at the Emerging Talent Networking Event in Philadelphia on Sept. 17. There is no cost to attend, but space is limited, so register today at www.elfaonline.org/events. Questions? Contact Alexa Carnibella at [email protected].

Membership Minute

If your company is an ELFA member, you may create a member profile from the ELFA website at www.elfaonline.org and gain access to valuable, members-only resources. To learn more about ELFA’s members-only resources, contact Julie Benson, VP of Membership Marketing, at
  [email protected].

Communicators Explore the Digital Landscape

at The Communications Committee meeting in May at ELFA headquarters, chaired by Colleen Daly of Key Equipment Finance, participants discussed industry promotion, including ways to maximize the reach and effectiveness of the association’s Equipment Finance Advantage end-user website, as well as opportunities and trends in digital communications and marketing.

Lawyers Recognized

Approximately 300 attorneys gathered at the ELFA Legal Forum, May 6–8 at the Omni Shoreham Hotel in Washington, D.C. Sessions focused on a wide range of hot topics, including tax reform, e-leasing, litigations and advanced provisions, state licensing, bundled services, California lenders licensing and securitization. The agenda also featured an ELFA Women’s Council reception. Stewart G. Abramson, Senior Managing Counsel at Wells Fargo Equipment Finance, and Dominic A. Liberatore, Deputy General Counsel at DLL, received the Edward A. Groobert Award for Legal Excellence. Pictured (L-R): ELFA President and CEO Ralph Petta, Abramson, Liberatore and ELFA Chairman David Schaefer. See photos from the event at www.elfaonline.org/events/event-photos.

Spotlight on Credit and Collections

A record-setting attendance of more than 160 senior credit and collections execs convened in New Orleans, June 4–6 for the Credit and Collections Management Conference & Exhibition. The theme of the conference was “NextGen Risk Management: The Future Is Now.” Attendees got up-to-speed on the latest industry strategies, trends and forecasts in credit and collections and enjoyed multiple opportunities to network and discuss industry best practices. Hot topics included regulatory issues currently impacting the industry from both a bank and non-bank perspective, risk management practices that make good business sense and a review of credit and collections benchmarking data. Beth Ann Bovino, Chief U.S. Economist at S&P Global, presented the 2018 Economic Outlook. The agenda also featured an ELFA Women’s Council reception. Five companies exhibited, showcasing a variety of business solutions. See photos from the event at www.elfaonline.org/events/event-photos.

Operations & Technology Conference:
Register Today

The future is here: Do you have the tools necessary? The Operations & Technology Conference and Exhibition, Sept. 17–19 at the Loews Philadelphia Hotel in Philadephia, provides the most up-to-the-minute information on technology, software and operation issues that impact equipment finance executives and your clients. This conference will give you the tools to succeed amid shifting markets and ever-changing customer desires. For more information and to register, go to www.elfaonline.org/events/2018/OT/.

Accountants Conference Promises Packed Agenda

Get ready for a packed agenda at the Lease and Finance Accountants Conference, Sept.17–19 at the Loews Philadelphia Hotel in Philadelphia. This event provides the latest information on accounting issues that impact equipment lessors and your clients. Representatives from the FASB and the IASB will be on hand to discuss the new lease accounting standard and other important developments in accounting standards. For more information and to register, go to www.elfaonline.org/events/2018/LAC/.

Takeaways from the Credit Manager Survey

What is the state of credit and collections in the equipment finance industry? The 8th Annual Credit Manager Survey, presented at the 2018 Credit and Collections Management Conference, provides insights. Highlights include:

• Portfolio quality remains good and confidence is high.
• We are in good times but those with 10+ years of experience are nervous at this stage of the economic cycle.
• 40% of the survey respondents expect growth volume will exceed 10% in 2018.
• Increases in requests from clients to modify credit or documentation requirements include: financing of a higher percentage of intangibles; longer financing terms; waiver of guarantees; waiver in change of control; waiver of cross defaults and softer notice and return provisions.
• Fraud remains a concern.
• Is the perfect storm brewing? Respondents noted rising interest rates; higher leverage; loosening of credit structures, terms and conditions; uncertain collateral recovery rates; unfavorable tax impact and pricing competition.

See the full results at www.elfaonline.org/industry-topics/risk-management.