5 Minutes with the Bank Chair

What’s happening in the bank sector of the equipment finance space? Equipment Leasing & Finance magazine caught up with Sean Svoboda, Chair of the Bank Business Council Steering Committee (BCSC), to take the pulse of this sector. Svoboda, National Sales Manager at Farm Credit Leasing, is currently serving his first year as Chair of the committee, which represents bank-owned and bank-related organizations that use internal funding, including bank departments, divisions and affiliates, as well as divisions and subsidiaries of bank holding companies. 

What issues is the Bank BCSC focused on this year? 

We are continuing to see the COVID-19 pandemic cause uncertainty in the equipment finance industry. In-office requirements vs working remote, traveling to see customers vs utilizing technology, and trying to grow our business with supply chain challenges are questions on everyone’s mind today. Not only do these items impact our business, they impact how we find, attract and retain talent. People are the most important asset for our businesses and in today’s labor market, competition for talent is everywhere. We will be spending time at our upcoming Bank Best Practices Roundtable in April discussing this important topic and sharing ideas. We are also looking to the future on ways we can bring awareness of the equipment finance industry to those who will soon be beginning their careers. One way to do this is the Guest Lecture Program utilizing the tools available from Equipment Leasing & Finance Foundation to spread the message on college campuses. 

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

My involvement with ELFA goes back many years to attending National Funding Conferences as a Relationship Manager on the buy side of Capital Markets. That experience early in my career allowed me to gain an appreciation for ELFA and what the association does for our industry. As my career progressed, I felt it was important to contribute more, which led me to join the BCSC. Being part of the BCSC has allowed me to have a voice for our member organizations on issues that impact equipment finance. I would strongly recommend others consider joining the BCSC.  

About the BCSCs

The BCSCs represent ELFA’s five key business segments: Bank, Captive and Vendor Finance, Independent, Service Providers and Small Ticket. Learn more at www.elfaonline.org/BCSCs. Interested in joining? Contact Ed Rosen at [email protected].