Virtual Reality

The equipment finance industry prepared for the future at ELFA 2020 Business LIVE!

The equipment finance industry came together like never before at ELFA 2020 Business LIVE!, the association’s first-ever virtual conference. More than 775 equipment finance professionals convened online on Oct. 27-28 to learn, network and discuss critical issues and trends affecting the industry and their businesses.

Due to the ongoing COVID-19 pandemic, the virtual conference replaced the in-person 59th ELFA Annual Convention originally scheduled to take place in Austin in October. The one-of-a-kind online gathering, held during an extraordinary year, proved to be a memorable event.



The conference kicked off with a rousing musical performance. A diverse group of ELFA members wowed attendees with their song “Take the Load off FASB” performed remotely from across the United States. As attendees listened to the song, they filled the chat screen with positive comments, from “This is awesome!” to “Love it!” The idea that eight industry leaders in different geographic areas could use technology to make music together underscored that although members were apart, they were ready to network and learn together.

“It’s amazing what we can create, even when we can’t be together,” observed ELFA President and CEO Ralph Petta, who lent his keyboard skills to the performance.  

Chair Martha Ahlers agreed. “What a great way to kick off our first virtual conference! This has been an unprecedented year for all of us,” she added. “But our industry is once again showing that we are resilient and we are ready to move forward!”

And move forward they did. The two-day conference flew by in a blur of educational sessions and online networking, and by the end, many were relieved the sessions were recorded, so they could watch what they missed. “I missed a lot because there was so much condensed into the timeframe,” said one impressed attendee, adding that joining the event from her home office conveyed a benefit: “I am virtually tired from all of the networking, but at least my feet don’t ache!”

Making Music Together: Members from around the country kicked off the conference with a remote musical performance.






Ralph Petta and Donna Brazile





   Chair Martha Ahlers



Jeffry Elliott received the 2020 Michael J. Fleming Distinguished Service Award.

Members Show Their Support

During ELFA 2020 Business LIVE! three keynote speakers shared their perspectives on a range of important issues and attendees shared real-time feedback using the chat feature. At the Opening General Session, political strategist and media commentator Donna Brazile handicapped the fall elections and the view from Washington a week before Election Day. Following her remarks, Ralph Petta joined her for a Q&A session. At the Equipment Leasing & Finance Foundation General Session, economic forecaster Marci Rossell shared her insights on global economic issues, followed by a Q&A session with Foundation Chair Scott Thacker. And at the Wednesday General Session, geopolitical analyst Peter Zeihan assessed how trends in demography, economics, energy, politics, technology and more are shaping our future, followed by a Q&A session with Martha Ahlers.

ELFA members showed their support for and contributed to the success of ELFA 2020 Business LIVE! in multiple ways. More than 75 industry subject matter experts spoke at 19 concurrent breakout sessions on a diverse set of hot topics, including financing alternatives, technology and innovation, the customer experience, growth after COVID-19, legal issues, data analytics, diversity & inclusion, credit and risk and more. In addition, sector-specific sessions focused on banks, independents and captive and vendor equipment finance organizations.

Attendees participated in a variety of virtual networking opportunities. They used the session chat feature to greet colleagues, share real-time feedback and pose questions. They joined Zoom sessions in the Equality Leadership, Emerging Talent and Women’s Leadership Networking Lounges, engaging with peers on industry issues and continuing the dialogue from breakout sessions. And at the end-of-day receptions—including the Newcomer and First-Time Attendee Reception, the Women’s Council Reception and the Opening and Closing Receptions—attendees joined a novel virtual networking platform to connect with each other and exchange best practices for surviving and thriving in the new normal.

A robust 29 companies showcased the latest business solutions in the multimedia exhibit hall and 11 companies supported the event through sponsorships. An impressive 18 companies took advantage of the bulk registration discount, each registering 10 or more employees for the conference.

Drastically discounted registration fees and expanded content were designed to make it easier for industry members representing a wide range of job responsibilities and experience levels to attend. In addition to those who had traditionally attended the ELFA Annual Convention, the conference drew new faces, including those who planned to attend other association events that were cancelled this year, and those who had never attended an ELFA Convention.

Attendees participated in a multiple virtual networking opportunities.


Scott Thacker and Marci Rossell


Peter Zeihan and Martha Ahlers


Interactive breakout sessions covered a variety of hot topics.

Look to the Future, Says Ahlers

In her conference address, Outgoing Chair Martha Ahlers, President of United Leasing & Finance, recognized the remarkable efforts of ELFA members and staff during this challenging year.

“Working from home or office, meeting virtually to share ideas and make decisions, ELFA volunteers and staff professionals have pivoted every day, innovating and working harder than ever to bring members the resources they need to deal with enormous change,” said Ahlers.

She noted that the ELFA community is no stranger to overcoming challenges. “Dealing with change—and leading our industry through it—are hallmarks of this organization. We are leaders, entrepreneurs and creative people who survive adversity—and emerge from it to clear new paths to the future.”

One of those paths to the future, said Ahlers, is being paved by the association’s diversity and inclusion initiatives. She highlighted the ELFA Women’s Council, which is working to advance gender diversity and inclusion throughout the association and the industry, and the Equality Steering Committee, which is working to advance efforts to foster equality, diversity and inclusion across the association and the industry. She shared moving comments from members who participated in the webinar “Bold Conversations to Effect Positive Change: Striving for Equality” organized by the Equality Committee this summer.

Ahlers closed her remarks by issuing a challenge to the membership: “I challenge all of us to look to the future now, and think about what we want it to hold—for ourselves, for our companies and industry, and for our world. Then take a step outside your comfort zone, share your ideas with others, and have the bold conversations that lead to positive change.”

She noted that while ELFA lays the groundwork for member companies to meet and make decisions that advance the industry, the rest is up to the members.

“The transformations I’ve seen within ELFA wouldn’t have happened without the introspection and honesty that individual members have been willing to bring,” she said. “Let’s reach out and engage with each other, because together, we can work toward a tomorrow that’s bright with equality and opportunity for every one of us.”

The Women’s Council hosted a networking lounge, a welcome reception and a session featuring speaker Grace Killelea. The Equality Committee and ETAC also hosted popular sessions and networking events.



Ahlers passed the leadership torch to incoming Board Chair Kris Snow, noting it was a historic moment. “As the second female Board Chair of ELFA, I am thrilled to be passing the gavel to you,” she told Snow.

ELFA Never Stands Still, Says Petta

ELFA President and CEO Ralph Petta began his conference remarks by reflecting on how the COVID-19 pandemic has altered life and business over the past year and challenged all of us to find new ways to keep going at our companies as well as at home.

“You, our members, have done it, working long hours and innovating to solve problems that didn’t exist only days before,” said Petta. He noted that ELFA has pivoted as well, adapting to changing realities and focusing on what matters most to the membership.

He shared several examples, such as how ELFA transitioned from in-person conference programming to online events this year, developing the popular “Wednesday Webinars at 1” series and converting the ELFA Annual Convention into ELFA 2020 Business LIVE!

Despite not being able to meet in person, Petta reported that the ELFA community has been more engaged than ever this year. Through committees, task forces and work groups, members have been meeting virtually to discuss hot topics and exchange best practices, contributing to and downloading industry data in record numbers, engaging in online community discussions, connecting on the ELFA Engage mobile app, planning virtual events and sharing on social media.

Petta said a key initiative for ELFA is building out its diversity and inclusion initiative. “Growing our diversity and inclusion is part of ELFA’s mission, and our work is nowhere near done,” he said.

On the advocacy front, the association’s federal and state government relations teams have been working overtime to protect member interests, reported Petta. Staff and member volunteers continue to make sure the industry’s voice is heard on Capitol Hill and in the states as elected officials develop regulatory and legislative initiatives and pandemic response programs that impact the industry and member businesses.

“ELFA never stands still,” said Petta. “Today’s pace of change is a stampede, and we know that if we remain stagnant and stand still, we’ll get run over. ELFA will continue to evolve as you—our members—go where you need to go with your businesses. We will do all we can to support you. It’s about focus and leadership—and together, as a community, we will succeed.”

Looking Ahead to 2021

As the conference drew to a close, Ahlers introduced incoming ELFA Chair Kris Snow, who presented the 2021 ELFA officers and directors. “No matter what 2021 brings, I know these individuals will help make it a successful year,” said Snow.

She added a hopeful note. “I look forward to seeing you in-person at our 60th ELFA Annual Convention, Oct. 24-26, 2021 in San Antonio, Texas!”




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