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Equipment Leasing & Finance

ELFA News

Spring 2020

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  ELFA Launches Wednesday Webinars

If you’re looking for the latest information on industry hot topics, join our new webinar series on Wednesdays at 1 p.m. ET. Register for upcoming webinars and listen to webinar recordings.

CoronaEconomyCoronavirus and the U.S. Economy: Implications for the Equipment Finance Industry (Wednesday, April 15, 1 p.m. ET) – Economists Dr. Robert Wescott and Jeff Jensen of Keybridge will discuss the state of the economy and the equipment finance industry in the face of the global pandemic. The authors of the Foundation’s Economic Outlook report (released April 15) will offer their insights on the economic, financial and political effects of the pandemic over the next quarter and the remainder of 2020 and answer your questions in a live Q&A session.

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The Federal Government’s Response to the COVID-19 Pandemic (Wednesday, April 22, 1 p.m. ET) - This web seminar will address the SBA's Paycheck Protection Program (PPP) and the Emergency Loan Program and their implications for equipment finance companies.  Join moderator Andy Fishburn, ELFA VP of Federal Government Relations, as he talks with David A. Javdan, former SBA General Counsel and Managing Director at Alvarez & Marsal, and Eric Holland, Partner at Reed Smith LLP

CoronaCyberFraudCybersecurity and Fraud in the COVID-19 Environment (Wednesday, April 29, 1 p.m. ET) – Concerns about protecting data and avoiding fraud are higher than ever in the current environment. This webinar will highlight preventive measures you can take to combat fraud and red flags to watch for.

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e-Signatures and e-Leases in the COVID-19 World - Wednesday, May 6, 1 p.m. ET


Recording Available for Equipment Valuation & COVID-19 Concerns Webinar

On April 9, ELFA co-sponsored a webinar on "Navigating Machine & Equipment Valuation COVID-19 Concerns" with the American Society of Appraisers and other organizations. This well-attended event provided information on how to value assets during a crisis, the latest updates on state and local stay-in-place and business operations orders, regulatory revisions and appraisal guidelines. Listen to a recording.


Get Updates on ELFA Programming: COVID-19 FAQ Page

ELFA is closely monitoring and evaluating the situation around the COVID-19 coronavirus. President and CEO Ralph Petta has released a COVID-19 Frequently Asked Questions webpage regarding key association programs, including cancelled and postponed events, new resources for members and more. ELFA will provide regular updates to the page as new information becomes available.


Track the Federal Response to COVID-19

ELFA has launched a Federal Government COVID-19 Response Resource webpage to provide members with the latest information regarding how the federal government is responding to the crisis and how ELFA is engaging with policymakers. The page includes information both to help you understand the government’s response and to help you point your customers to resources that may become available to them.


Stimulus Package: What You Need to Know

Are you seeking information on COVID-19 relief for small businesses? Watch ELFA’s video “SBA Lending Programs in Response to COVID-19: What Equipment Finance Companies Need to Know.” This 18-minute video interview recorded on April 2 features Andy Fishburn, ELFA VP of Federal Government Relations, and SBA expert Charles Rho, President of Velocity SBA, an affiliate of ELFA member company Crossroads Equipment Lease & Finance LLC. The video provides an overview of loans available for small businesses in response to the COVID-19 pandemic that both ELFA member companies and their customers should be aware of, including the Paycheck Protection Program, which will provide approximately $350 billion in loans through the SBA 7(a) program.

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Podcast Explores Life and Business During COVID-19

ELFA’s Equipment Finance Matters Podcast brings you up close and personal with leaders in the equipment finance industry. Two new episodes are now available:

Live from Quarantine with Madhu Natarajan – Madhu Natarajan, Co-Founder and CEO of Odessa, discusses (what else?) the impact COVID-19 on the equipment finance industry, from how to ensure that remote employees are motivated and systems are secure to how to respond to customer needs in this challenging time.

•  Mike DiCecco: Not Just Business, Business, Business – Mike DiCecco, President of Huntington Equipment Finance, talks about the benefits of personal connection with customers and the importance of being flexible with colleagues in the era of social distancing. He and host Alexa Carnibella also talk about e-docs, SBA Disaster Assistance and the upside of video chats to stay connected.


COVID-19 Impact on Financial Reporting: Available Resources

Given the severity of the broad COVID-19 impacts on the economy, industries and individual businesses, the major accounting firms have been publishing guidance on some of the accounting and reporting implications that companies need to consider in 2020. View a list of publications that have been issued by firms that are members of the ELFA Financial Accounting Committee, compiled by Committee Chair John Bober.


FASB Issues Lease Accounting Updates

MbrMinutes-01Membership Minute

Need an easy solution to connect with other ELFA members and stay informed on the latest member and industry news? Download the ELFA Engage mobile app today and conveniently gain access to member resources and information through your smartphone. Wherever you are, you can easily connect with your peers and stay up-to-date on critical industry news and trends. The new app, available for both iOS and Android, serves as ELFA’s hub for content, collaboration and events. Contact mobile@elfaonline.org with questions.


Stay Connected via ELFA Online Communities

ELFA’s members-only online communities (LeaseTalk, AcctgTalk, LegalTalk and TaxTalk) allow you to virtually tap into the collective knowledge of the ELFA membership during this time of social distancing. We invite you to join the communities to network, share ideas and exchange best practices with your peers. Visit https://connect.elfaonline.org to get started. Questions? Contact communities@elfaonline.org.


Scott McFettersAsk a Leader: Interview with Scott McFetters

Check out the latest “Ask a Leader” interview with Scott McFetters, President of CoreTech Leasing. McFetters discusses his biggest professional development challenge and shares his top three pieces of advice for those entering the industry. This interview series is sponsored by the Emerging Talent Advisory Council.




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Celebrating a Staff Milestone

At a recent quarterly all-staff meeting , ELFA President and CEO Ralph Petta recognized Shirley Bryant for her outstanding commitment, dedication and service to the association. Bryant, who is ELFA's Director of Web Design, was honored for 20 years of service to the association. 


O&TEawardShowcase Your Innovation

Did your organization complete a great project in the past 12 months? Would you like recognition for that achievement? The Operations & Technology Excellence Award identifies and recognizes equipment finance companies that have successfully implemented an operational excellence initiative and/or a technology innovation project and deserve to be recognized! Enter by June 3.



DSAawardNominate a Leader

The Michael J. Fleming Distinguished Service Award honors the accomplishments of an outstanding ELFA volunteer who has made a significant contribution to the association and the industry, and who also encourages others to contribute to the development and growth of the industry. Submit your nomination by June 24.