What You Need to Know Now

Introducing the
ELFA Engage App

Your new connection to the equipment finance community

You are invited to download ELFA Engage, the new mobile app for events, information and collaboration in the equipment finance community. Stay current on what’s happening in the equipment finance industry, connect with your colleagues and access your ELFA member benefits and events from your mobile phone or tablet, 24-7. Highlights include:

• Events: Browse ELFA events and add them to your personal schedule. Check out attendees, speakers, exhibitors, handouts and more!
• News Feed: Stay updated with ELFA, industry and member news.
• Share: Share, like, bookmark and comment on posts.
• Chat: Privately chat with other app users and create groups.
• Notifications: Receive timely updates delivered straight to your mobile device.
• More! Watch for additional features coming later this year, including the ability to collaborate in online forums.

To download the app, search “ELFA Engage” in the Apple App Store or the Google Play Store. To log in, use your ELFA credentials (the same credentials you use to log into the ELFA website). If you don’t know your credentials, use the username request or password reset. For assistance logging in, please email [email protected].

New Online Course Tackles the Master Lease Agreement

The new course covers “hell or high water” clauses and more.

The master lease agreement is at the heart of every transaction—and knowing what’s in it can be the difference between a deal or no deal. In ELFA’s new online course, Understanding the Master Lease Agreement, walk through the Master Lease Agreement section by section, view real-world scenarios demonstrating how knowing what’s in the MLA can make or break a deal, and access and download exclusive resources available only through the course. The course is designed for equipment finance professionals in sales, credit, documentation and anyone who would like a working knowledge of the purpose and contents of the master lease agreement. To view a demo and to learn more, go to: www.elfaonline.org/umla. For questions, contact Alexa Carnibella at [email protected].

 
Interested in learning more about what ELFA has to offer? Contact the ELFA Membership Department to schedule your conference call today. The call is designed to provide an overview of ELFA’s resources for new members or a refresher for existing members. This invitation is open to anyone in your organization and should last approximately 20 minutes. If you are interested in setting up a call between ELFA membership and your staff, please contact [email protected].

 

Members Address Legal Hot Topics

The Legal Committee gathered at ELFA headquarters in January under the leadership of Chair Lisa Moore, Senior Counsel at PNC Equipment Finance.

Calling All Emerging Talent: 2020 Networking Events

Are you new to the equipment finance industry? Are you looking to expand your network within the industry? Now’s your chance! ELFA’s Emerging Talent Networking Events are designed to bring the newest and brightest together with industry veterans—sharing new ideas and proven best practices—all while creating new relationships along the way. Opportunities to mix and mingle in 2020 include: July 15 in Denver and Sept. 14 in New Orleans. For more information, go to: www.elfaonline.org/events or contact Alexa Carnibella at [email protected].

Save the Date: Credit and Collections Conference

The 2020 Credit and Collections Management Conference and Exhibition will be held June 1-3 in San Antonio, Texas. Don’t miss this opportunity to discuss the state of the economy, human capital issues, the legal and regulatory environment, data analytics, risk and bankruptcy and other relevant topics. Learn more.

SEFA Respondents Earn Rewards

Make sure you participate in the 2020 Survey of Equipment Finance Activity (SEFA) to take advantage of special benefits! Every company respondent will receive:

• A complimentary copy of the 300+ page SEFA and Small-Ticket SEFA reports (a $1,495 value).
• A personalized MySEFA interactive tool, which lets you track your company’s operational and performance statistics and compare them against your peers.

Questions? Contact Bill Choi at [email protected] or go to www.elfaonline.org/SEFA.

Nominations Open for Equipment Finance Hall of Fame

The Equipment Finance Hall of Fame annually recognizes individuals who have made unique, significant or lasting contributions to the industry and/or the association throughout their careers. The deadline for nominations to the 2020 Class of the Equipment Finance Hall of Fame is April 1, 2020. Learn about the nomination criteria and deadlines and access the online nomination form at www.elfaonline.org/hof. Please contact Ed Rosen at [email protected] if you have any questions.

Lease Accounting Standard Delayed

Certain private companies, nonprofits and tax-exempt organizations that lease equipment have been given an important advantage in implementing new accounting rules—more time. Check out ELFA’s new bylined article created to help lessees prepare for the new lease accounting standard (ASC 842), “Time Is On Your Side: Making the Most of the Delay in Lease Accounting Changes,” at www.elfaonline.org/LeaseAccountingTools.

ELFA Members Embrace Guiding Principles

In recognition of the prominence of the equipment leasing and finance sector as a key component of capital formation and the need to maintain the highest professional and ethical standards in order to continue its growth, ELFA, on behalf of its members, adopted the Principles of Fair Business Practices on Oct. 21, 2006. It is the intent of ELFA, on behalf of its members, that the following Principles be embraced to ensure an adherence to clarity, best practices and integrity in the conduct of all facets of members’ business transactions.

ELFA Members believe that all business agreements, arrangements and transactions should be conducted with transparency with respect to the roles and responsibilities of all parties. Full disclosure in and clarity of transaction documentation is a key element of such transparency.

We believe that all member companies should conduct their business relationships with suppliers and customers in a fair and reasonable manner and should comply with the letter and spirit of applicable laws and regulations.

We believe that all member companies should encourage, to the extent reasonably practical, that all parties to a business agreement, arrangement or transaction (including members’ customers and suppliers) operate consistent with these Principles.

We believe that it is incumbent upon members, and the Association on members’ behalf, to promote education and awareness such that all parties to business dealings consult, where necessary or appropriate, their professional advisors.

We believe that business transactions and related activities should be conducted with integrity and the highest ethical standards.

Finally, we believe that it is incumbent upon members, and the Association on members’ behalf, to promote education and awareness of these Principles.

It is these Principles that guide the members of ELFA as leaders in the equipment leasing and finance marketplace. For more information on ELFA’s Principles of Fair Business Practices, please visit: www.elfaonline.org/about/principles-of-fair-business-practices.

ELFA Updates Code of Conduct

ELFA’s goal is to ensure that we promote a safe, inclusive and productive environment for all activity participants. With that goal in mind, the ELFA Equality Committee has updated the Professional Code of Conduct governing participation in association events. The full statement is available at www.elfaonline.org/events/code-of-conduct. Please bring any concerns to the immediate attention of the ELFA event staff or contact Lisa Ramirez, Vice President of Business and Professional Development, at [email protected]. Thank you for your help in keeping all ELFA events professional, welcoming and respectful to all.

Join the “ELFA Equality” LinkedIn Group

The ELFA Equality Committee has created the new “ELFA Equality” LinkedIn Group to bring industry professionals together in support of diversity and inclusion. This group is designed as a forum to share information, exchange ideas and network with other members of the equipment finance community. All members are welcome to connect with the group at https://www.linkedin.com/groups/12317521/.