What’s happening in the service provider sector of the equipment finance space? Equipment Leasing & Finance magazine caught up with Kim Mounger, CLFP, VP, Business Development at Orion First Financial, to find out. Mounger is Chair of the Service Provider Business Council Steering Committee (BCSC), which is composed of a diverse mix of industry specialists who provide a variety of services to the members of the other four Business Councils.
What were some of the key issues/areas of discussion at the first-ever Service Provider Best Practices Roundtable in June? What was the general response of participants to the Roundtable?
Kelby Spring, VP, Financial Services at Equifax, kicked things off with some market insights on consumer and commercial lending trends. Inflation fell slightly in March and consumer lending ticked up. Consumers are still enjoying a healthy credit climate, and most still have comfortable savings. Commercial lending trends reflect caution among businesses and lenders in the face of heightened economic uncertainty. We then had a Client Success Journey presentation by Randy Haug, Executive Vice President, Vice Chairman & Co-Founder, LTi Technology Solutions, who explained the importance of being a trusted advisor and unlocking strategic value. This is an important topic for service providers as we look to partner and align with our clients to meet their goals. We also heard from Adam White, Director, Commercial Risk Solutions at Equifax, who continued the discussion on understanding client goals for everyone’s success. Participants praised the actionable insights and engaged in some lively Q&A.
How did you become involved with the Service Provider BCSC?
At Dave Schaefer’s [Chairman and Founder, Orion First Financial] encouragement, I volunteered—and it’s been one of my best decisions. Volunteering with ELFA opened doors to relationships I’d never have otherwise. The best part of this industry for me is the people I meet and the relationships I form. We all attend many conferences throughout the year and having close industry friends makes these events not only more successful, but also more fun.
What are some of the highlights or outstanding experiences you’ve had serving on the BCSC?
This year the Capitol Connections’ Service Provider Round Table was a standout with great collaboration and real dialogue. The materials presented were very informative and the in-person energy made it interactive and fun. Being BCSC Chair has also led to a volunteer position on LeasePAC which is a highlight for me. I have learned a lot being on a political action committee. And again, the best part is getting to know more people in our industry and building relationships. I encourage everyone to get involved and volunteer, you’ll learn and make friends along the way.