5 Minutes with the Independent Middle Market Chair

What’s happening in the independent middle market sector of the equipment finance space? Equipment Leasing & Finance magazine recently talked to Brian Eschmann, Chair of the Independent Middle Market Business Council Steering Committee (BCSC), to take the pulse of this sector. Eschmann, President of Trans Lease, Inc., is currently serving his first year as Chair of the committee, which engages independent finance and multiline finance companies involved in transactions between $250,000 and $5 million, either individually or through lines.

From your perspective serving on the Independent Middle Market BCSC, what issues are independent equipment finance companies focused on this year?

Capital availability and a protracted positive economic cycle have attracted additional competition to the marketplace. A softening regulatory environment has also attracted banks into some of our segment’s niche markets, and we see a new breed of entrepreneurs that have brought an alternative approach to equipment financing through their proprietary technology platforms. As a response, our segment has attempted to understand and incorporate new technologies into our businesses to improve the customer experience, expedite transactions and combat these competitive pressures. Independents have consistently found new ways to adapt to new challenges and differentiate our products.

Our group has spent the early part of the year digesting the impact of tax reform. We generally see opportunity with the changes to develop solutions that maximize the benefits to both our companies and our customers. Like so many areas of the economy, independents are feeling the effects of a shallow talent pool and recognize the need to attract and develop new talent. What continues to set independents apart is our unique equipment and industry knowledge, which will continue to be the key aspect to our success as we embrace and incorporate many of the changes in the broader marketplace. The key will be having the talent in our businesses to effectively deploy our strategies and fully realize the opportunities.

What do you like best about serving on a BCSC?

I enjoy the networking opportunities with fellow independents who share common challenges yet unique approaches to the market. Our BCSC is particularly diverse, varying in size, geography, equipment and industry focus. As entrepreneurs in the equipment finance space, we have all uncovered unique approaches to the market and possess the agility to adjust quickly when the marketplace changes. Serving on the committee has presented opportunities to engage more fully in the association and to develop new friendships with fellow members.