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Equipment Leasing & Finance

Business Council Updates

May-June 2022

5 Minutes with the Service Provider Chair

What’s happening in the service provider sector
of the equipment finance space?  Equipment Leasing & Finance magazine caught up with Jon Gerson, Chair of the Service Provider Business Council Steering Committee (BCSC), to take the pulse of this sector. Gerson, President of Executive Solutions for Leasing & Finance, LLC, is currently serving his second year as Chair of the committee, 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 issues is the Service Provider BCSC focused on this year?  

We’re lucky as a group that we have a lot of continuity among our members—with many returning volunteers and past members rejoining us. That allows us to execute on our primary mandate—to act as a liaison between the broader membership and the service provider community so there is effective communication between the groups and ELFA. 
Our continuity has also allowed us to build on momentum established in past years. In that vein, we’ll be continuing our webinar initiative, with two expected this summer, including one on Section 1071 of Dodd-Frank and how implementation will affect ELFA member companies large and small. Since the service provider community—whether in legal, back-office processing, or software and accounting, among other disciplines—will be instrumental in helping member companies, we expect this to be well attended and received.

 We will also be continuing an initiative first started nearly a decade ago and will be sending out a survey to the broader ELFA membership so that we can get an idea of what the membership is looking for in terms of service and support. Since this is a multi-year project, we’re hoping to build a data set that ensures service providers across the industry can provide the best possible value to member companies with continually changing circumstances and needs, both during and after the unusual period of the last couple of years.

And since it’s early in the year, we’ve got some other ideas percolating that we will roll out in the coming months.

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

I first began attending ELFA conferences about 18 years ago, and got involved in volunteering not too long after that.  I’ve served on the SPBCSC a few times and this will be my second year as Chair. I was also on the Membership Committee for years and had the pleasure of serving on ETAC (Emerging Talent Advisory Council). Volunteering with ELFA is definitely something I recommend—it’s professionally and personally rewarding, to be sure. You have the opportunity to meet people you wouldn’t otherwise, and learn from peers while also being able to teach folks in the industry. And, most importantly, ELFA is like any organization that relies mostly on volunteers from membership (not to take anything away from the ELFA staff, which makes volunteering so painless)—you get out of it what you put into it. ELFA represents all of us, so the stronger it is, the stronger the industry is.

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 erosen@elfaonline.org.