What You Need to Know Now

ELFA Executive Committee Meets  

The ELFA Executive Committee met in August under the leadership of Board Chair Martha Ahlers. The meeting was originally scheduled to take place in person; however, due to the COVID-19 pandemic, the committee met virtually. During the 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—despite the challenges presented by the COVID-19 crisis.

Post your excitement about ELFA 2020 Business LIVE!  

On the Engage Wall of the new ELFA Engage mobile app, members may share news, photos and links to stay connected with the ELFA community. Click the plus sign (+) in the top-right corner to post messages and get started.  Use the hashtag #ELFA2020BusinessLive between Sept. 1–Oct. 29, 2020, and you will be entered into a drawing to win a sought-after ELFA mug and a $25 Amazon gift card. Two winners will be chosen! Learn more.  Contact Emily Winkler at [email protected] with questions.

Connect with Your Business Sector 

Network with colleagues in your business sector and get up-to-speed on industry sector trends at ELFA 2020 Business LIVE! on Oct. 27-28. Several of the association’s Business Council Steering Committees (BCSCs) are planning engaging educational breakout sessions for various industry sectors. Check the schedule of events at www.elfaonline.org/2020buslive.

Fact Sheets Highlight Vertical Markets

Ever wonder how prevalent equipment financing is in a particular industry? As part of ELFA’s campaign to promote equipment finance, the association has released a series of fact sheets that reveal equipment finance statistics and facts for 10 industries. View more on the association’s end-user website, www.equipmentfinanceadvantage.org/.

Showcase Your Membership

Is your company a member of ELFA? Upload the ELFA Member logo to your company website, business cards or literature and show your support of the industry and the association. Members may access the logo at www.elfaonline.org/about/elfa-logos. To learn more about ELFA’s resources, contact Julie Benson, VP of Membership Marketing, at [email protected].

Maximize Your Reach  

Get the greatest impact and return on investment for your marketing dollars! ELFA’s updated Integrated Marketing Guide highlights the most effective opportunities to reach decision makers in the nearly $1 trillion equipment finance industry. Download the guide from www.elfaonline.org/About/Advertise or contact Steve Wafalosky at [email protected] or 440-247-1060 for more information.

Missed a Webinar?
We’ve Got You Covered  

More than 4,000 attendees have participated in ELFA’s popular “Wednesday Webinars @1” series created to provide critical information to equipment finance professionals in the face of the global COVID-19 pandemic. The webinars have engaged experts on a series of hot topics—from e-leasing to loan modifications—and allowed attendees to ask questions during interactive Q&A sessions. If you missed a webinar, you can access the recordings and slides from more than 20 webinars presented this year at www.elfaonline.org/events/elearning/web-seminars:

• Navigating Machine & Equipment Valuation
• Coronavirus and the U.S. Economy
• Federal Gov’t. Response to COVID-19 Pandemic
• Cybersecurity and Fraud in the COVID-19 Environment
• e-Signatures and e-Leases in the COVID-19 World
• Operational Resiliency
• Pandemic Politics
• Lease and Loan Modifications and Restructurings
• COVID-19’s Hidden Costs: Bankruptcy, Repossessions & Challenging Legislation
• Building a Foundation for Digital Agility
• Best Practices for Managing Sales Tax in Turbulent Times
• Bold Conversations to Effect Positive Change-Striving for Equality
• Unconscious Bias
• CECL: A New Accounting Standard and a Challenging Credit Environment
• Pay Attention to That CTO Behind the Curtain
• The FASB: Where to Now?
• Local Property Taxation-COVID-19 Impact and Challenges
• Ethical Issues for Equipment Finance Lawyers
• Managing Remote Teams and the Post-COVID Norm
• Igniting Relationships, Virtually Speaking

 

Now Available: New Interactive SEFA Dashboard

The Interactive SEFA Dashboard has been updated and is full of cutting-edge industry data. This free tool—which is only available to ELFA members—allows you to quickly and easily connect to a decade of critical statistics from the Survey of Equipment Finance Activity. In just a few clicks, you can segment the data by year, type of organization, market segment, size of organization and business model. It’s easy to select categories, add filters and drill down into specific information.

• Benchmark your company against others in the industry
• Find your own insights and identify trends
• Uncover new business opportunities and more.

Visit the Dashboard at www.elfaonline.org/InteractiveSEFA.

Principles Workshop Goes Virtual

Congratulations to the latest graduating class of ELFA’s Principles of Equipment Leasing and Finance Workshop, held virtually for a team at Societe Generale Equipment Finance. If you’re interested in scheduling a virtual Principles workshop for your team, please visit www.elfaonline.org/POL.

Taggart Shares Insights

What is the most rewarding risk of your career? What are the top three tips you’d give someone starting out in the industry? Mark Taggart, President and CEO of Toyota Industries Commercial Finance, answers these questions and more in a new “Ask a Leader” interview sponsored by the Emerging Talent Advisory Council. Check out this thought-provoking interview series. 

Fall Special: Save 25% in the ELFA Career Center

Are you looking for top-quality candidates  to join your organization? Set up your organization for success by posting your job openings in the ELFA Career Center, the equipment finance industry’s premiere online employment resource. Special Offer: Employers save 25% using promo code Fall2020 when you purchase your 30- or 60-day listing. Questions? Call 888-491-8833 x1814. 

Tech Innovation Winners Announced

ELFA has announced the winners of the 2020 Operations and Technology Excellence Award. The two award-winning projects will be showcased at a session during ELFA 2020 Business LIVE!, the association’s virtual conference on Oct. 27-28.

Volvo Financial Services (VFS) is the winner of the Operations and Technology Excellence Award COVID-19 Project. As a result of the COVID-19 pandemic, VFS faced an unprecedented increase in customers’ payment relief requests. In response, VFS developed solutions that allowed them to more quickly process the requests, communicate with customers and gain efficiencies so that customer service levels were satisfied.

TIAA Commercial Finance Inc. is the winner of the Operations & Technology Excellence Award. The company was recognized for their successful digital transformation effort. Shifting from a project mindset to a product mindset allowed for greater agility in adjusting plans as business and market conditions changed. The result was great efficiency, increased focus on the customer experience and transformation of the business from analog to digital.

Join the ELFA Equality LinkedIn Group 

The ELFA Equality Committee has created a new 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/.