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Equipment Leasing & Finance

Meet the New ELFA Members

Nov/Dec 2020

From seasoned financing pros to successful members of other industries, ELFA’s new members bring big ideas and fresh thinking to the organization.

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  • HUMAN CAPITAL

Meet the New ELFA Members

Nov 17, 2020, 13:51 PM
From seasoned financing pros to successful members of other industries, ELFA’s new members bring big ideas and fresh thinking to the organization.

From seasoned financing pros to successful members of other industries, ELFA’s new members bring big ideas and fresh thinking to the organization.

NewMbrs

To say that 2020 has brought change to ELFA and its members is an understatement.
But, like every tumultuous time since the organization was founded, members have shown themselves to be remarkably resilient and adaptive. These five new ELFA member companies span industry sectors and financing experience, but they all bring valuable attributes and insight to the organization. Here are their stories.

KellyCarteret
Kelly DeCarteret
DeCarteret Transport, LLC

Coordinating the logistics and transportation of trucks, trailers and heavy equipment around the country is challenging enough on its own. But add in the global pandemic and its impact on the supply chain and resources and you’ve got a next-level challenge. Houston-based DeCarteret Transport (KDT) incorporates “failure is not an option” into its daily work ethic. The company, which launched just four years ago, is a certified Woman-Owned Business and has grown to $12 million in annual revenue, executing over 1,000 transports per month.

Founder Kelly DeCarteret got her start in the industry more than 12 years ago, when she discovered her service skills were something that set her apart. To this day, KDT is a repeat and referral-based company, where business is grown organically. “It’s truly about doing the right thing. Treating people with respect, communicating the variables and following through with what you say,” DeCarteret says. The company’s team of 13 employees are dedicated to the KDT culture of hard work and problem-solving service. “Every transport is unique with its own set of circumstances. It takes people, not automation, to be engaged and to work through situations with everyone involved,” she says.

DeCarteret was referred to ELFA through one of her customers, who encouraged her to attend the Equipment Management Conference in Orlando in February 2020. Joining ELFA has helped her to network and to explore market trends in the equipment finance industry. While she hasn’t been able to take advantage of many other ELFA offerings yet, she looks forward to getting more involved in 2021 once the pandemic is no longer a threat.

“ELFA has given me the information and insight into what our customers are up against, which enables KDT to better serve their needs,” she says.

2020 Membership Milestones


Celebrating 45 Years

Daimler Truck Financial
GFC Leasing-A Division of the Gordon Flesch Company, Inc.
Pitney Bowes Global Financial Services LLC

Celebrating 40 Years
Buchalter
CSI Leasing, Inc.

Celebrating 35 Years
ADP Commercial Leasing, LLC
AT&T Capital Services, Inc.
BNY Capital Resources Corporation
Boston Financial & Equity Corporation
NEC Financial Services, LLC
Raymond Leasing Corporation
Siemens Financial Services, Inc.
White & Case LLP

Celebrating 30 Years
Blank Rome LLP
CWB National Leasing
Frandzel Robins Bloom & Csato, L.C.
GreatAmerica Financial Services
Hitachi Capital America Corp.
Ivory Consulting Corporation
North Mill Equipment Finance
Webster Capital Finance, Inc.

Celebrating 25 Years
California First National Bank
Dexter Financial Services, Inc.
Jaffe Raitt Heuer & Weiss, P.C.
Messerli Kramer
Union Bank-Leasing & Asset Finance Division
Volvo Financial Services
Wallwork Financial

Celebrating 20 Years
AP Equipment Financing
Brandywine Capital Associates, Inc.
Capital One N/A
Compeer Financial
Crestmark Equipment Finance, a division of MetaBank
Ernst & Young LLP
Executive Solutions for Leasing and Finance, Inc.
Jenkins & Kling, P.C.
PayNet, an Equifax Company
Rockwell Financial Group
Société Generale Equipment Finance
VFI Corporate Finance
Wafra Capital Partners Inc.


JoeRisberg
Joseph Risberg
Diesel Leasing & Financial Services

If you can’t find what you need, build it. That’s how Doggett Equipment Services Group became one of North America’s leading equipment dealership groups. The company includes 16 John Deere construction and forestry equipment dealerships, seven Toyota material handling equipment dealerships and eight Freightliner truck and trailer dealerships, among other manufacturers. The company prides itself on its commitment to service. So, the next step was evident: create an equipment financing arm that would provide a similar level of service across its dealerships and brands.

That’s how Diesel Leasing & Financial Services came to be in 2019. Joseph Risberg, Vice President, says that the new captive entity dovetails nicely into the Doggett family business and gives the entire entity more opportunities to service customers. “It improves our ability to be a ‘one-stop shop’ for someone who needs everything from heavy-duty construction equipment to a Ford F-150,” he says.

When you’ve been in the credit and financing sector for nearly a quarter-century, as Risberg has, you know what’s going to help your business. So, shortly after Diesel Leasing & Financial Services was formed, Risberg joined ELFA for both the resources it provides and the organization’s leadership.

“ELFA has been the ‘spokes group’ for what our industry needs,” he says. “I really appreciate how they champion our causes through Congress and create a forum where finance entities can interact. Knowing we have a unified voice out there to promote and represent our interests is fantastic.”

As the pandemic has hit many businesses hard, Risberg says the personalized service Diesel provides is more important than ever. His team can work with business owners to understand their unique circumstances and craft solutions that are right for them. He is hopeful that this differentiator will help the organization as a whole expand its already considerable footprint throughout the south and beyond.

Kudos to the ELFA Membership Committee!

MbrCommitteeIn 2020, the Membership Committee worked closely with the ELFA Membership Department to assist in the association’s recruitment and retention initiatives. With the committee’s assistance, ELFA met and exceeded its membership goals for the year.  Many thanks to the 2020 committee for their dedication and participation:

Alan Sikora, CLFP, Chair, First American Equipment Finance,
   an RBC / City National Company
Julie Benson, ELFA
Brett Boehm, TBF Financial, LLC
Donna Christensen, CSC
Mike Coon, Hanmi Bank
Tom Forbes, Wintrust Commercial Finance
Jon Gerson, Executive Solutions for Leasing and Finance, Inc.
Don Hansen, Regents Capital Corporation
Martin Klotzman, CLFP, Ivory Consulting Corp.
Chris Lerma, CLFP, AP Equipment Financing
Tom Mariani, CNH Industrial Capital LLC
Rick Matte, Encina Equipment Finance, LLC
Thomas Pericak, Hancock Whitney Equipment Finance, LLC
Nathan Petrie, PayNet, an Equifax Company
Marci Slagle, CLFP, BankFinancial, NA
Andrea Tzamaras, ELFA
Jeff Walker, CIMC Capital, Inc.
Mike Wiedemer, CLFP, First American Equipment Finance,
   an RBC / City National Company

Do you know of a company that would benefit from ELFA membership? Please email your recommendation to Julie Benson, VP of Membership Marketing, at jbenson@elfaonline.org.

DaleKluga
Dale Kluga

Providence Equipment Finance, a Division of Providence Bank & Trust

Dale Kluga had a long and storied history in banking and then in finance when he founded Cobra Capital in 2000. And that experience helped the company spot a good opportunity when it came about. So, when the McDonald’s Ventures team called Kluga about a movie-rental startup in 2003 and suggested his team consider extending financing, Cobra stepped up. What started with a half-million-dollar line for Redbox, which can now be found in many of America’s supermarket lobbies, became a $65 million equipment finance endeavor. “We at Cobra were the only creditors and lenders in the nation to finance the rollout of Redbox machines during that time period,” Kluga says.

In 2016, Providence Bank & Trust acquired the company and rebranded it. But the goal was the same: earnings growth through cultivating a specialty in small business equipment financing. Providence Equipment Finance, as the Villa Park, Illinois-based equipment financing division of Providence Bank is now called, specializes in funding equipment in the mid six-figure to low seven-figure range. Many banks can’t do such small deals efficiently or profitably, but it’s Providence’s specialty. “We’re really unusual in that we’re a niche-oriented funder that’s had tremendous success in financing emerging growth businesses,” he says.

Providence has enjoyed less than a 1% cumulative loss history over 20 consecutive years, including in its previous incarnation. “This is not a model that you can scale to do $500 million in volume. This is a boutique model, that you can maybe get up to $100 million in volume, but it has tremendous profit potential,” Kluga says. As part of a local community bank focused on creating a viable business model that adds value to the small business community, the model works. And Kluga will never lose his enthusiasm for the potential of small businesses—even in uncertain economic times.

“Even if we have some contraction in the small business market, I’m ready, willing and able to help those entrepreneurs that come back into the business with their existing networks and reestablish them in the financing marketplace,” he says.

2020 NEW MEMBERS

Auxilior Capital Partners, Inc
Black Star ACA, LLC    
Burnham Sterling & Company LLC
Chain Asset Management Solutions
DeCarteret Transport, LLC
Diesel Leasing and Financial Services
Equipment Finance Group LLC
Farm Credit Canada (FCC)
First Citizens Bank & Trust Co.
Gaelic Leasing Inc    
Kubota Credit Corporation, U.S.A.
KWIPPED, Inc.    
Lion Capital, LLC    
MachineryMax Auctions    
Meridian Equipment Finance
Midwest Equipment Funding, Inc
Nationwide Equipment Leasing, LLC
Northteq    
Palo Alto Networks, Inc.    
Perfection Global, LLC    
Providence Equipment Finance, A Division of Providence Bank & Trust
Resolvion, LLC    
Rimon, P.C.    
Skyjack Financial Services
South State Bank    
Star Hill Financial LLC
TopMark Funding, LLC    
UMB Bank, N.A.    
White Oak Equipment Finance 1, LLC



EvanLang
Evan Lang
TopMark Funding

If there’s a word that comes to mind when you mention TopMark Funding, it’s probably “trucks.” The financing company specializes in commercial vehicles—whether it’s large, commercial-class eight-wheelers, dump trucks, tow trucks and virtually any other kind of truck, TopMark has probably financed it. The company partners with dealerships and helps vehicle buyers grow their fleets. That specialization “is something that lives deep in our entire company,” says Evan Lang, Managing Partner.

And while the COVID-19 pandemic hit many sectors hard, the increased demand on the supply chain, shipping and freight sectors gave the sector traction again, Lang says. TopMark’s deep understanding of the trucking sector helps customers make decisions about the number of vehicles they need on the road to help meet demand and the technology they need to ensure seamless operations. With its knowledge of building fleets, TopMark helps the customer map out a growth plan and better understand its financing options over time. This both limits exposure and helps vehicle buyers maximize their potential for growth.

Lang is looking forward to the time when he can attend ELFA meetings and conferences in person, both for the networking opportunities and for the education opportunities. Although TopMark’s ELFA membership is new, the company has already benefitted from contacts made, including funding sources.

“We knew that if everybody at our company had that kind of institutional knowledge, it would make us better at what we do and we’ve certainly seen the benefits of that,” he says.

That’s important, as the firm is on a growth trajectory. Plans to penetrate the dealer market with extensive knowledge and a high level of service are working. The company expects revenue to increase by roughly 70% next year and roughly 50% the year after that. The company, which currently has 40 employees, also expects its headcount will continue to grow.

ChrisLyle
Christopher Lyle
Equipment Finance Group

When customers work with Cincinnati-based Equipment Finance Group, they not only get a partner to help them fund their equipment. They get the benefit of decades of experience in business and finance. Essentially, they get the advisory benefits that might typically come with a venture capital deal without giving up any equity.

Founder Christopher Lyle’s roots in equipment finance extend back to his first firm, which he founded in 1995. He joined the association when it was called ELA to learn best practices and benefit from networking for his fledgling business. He grew Landegger Capital Services into a successful global finance company serving firms in the industrial sector. After that subsidiary was dissolved, he went to work for equipment manufacturer Makino, where he built another successful captive finance entity for the company.

In 2010, Lyle launched EFG, which delivers a complete global captive finance solution to its customers in the plastics, machine tool and automation sectors. In addition to equipment funding solutions, EFG provides marketing and data solutions. The company has focused on developing its technology capabilities, which gives it an edge in how quickly it can turn deals around. “In many cases, where applications are only up to $500,000 per asset, we can do multiple assets, and we can turn those deals from a lead into funding in less than 24 hours,” he says.

And while Lyle didn’t realize he was founding a family business when he launched the company, two of his sons now work in the business as he runs part of it from his home base in Puerto Rico. They’ve largely spearheaded the conversion to becoming an entirely cloud-based company, which has allowed them to serve more customers with a leaner operation. Salesforce-powered data solutions let EFG quickly find past buyers of particular equipment and give banks remarketing capabilities.

“Through our database, we provide information to our vendors, not only for their customers, but their competitors’ customers and what their competitors are selling to them,” he says. “I don’t know a bank that’s doing what we’re doing.”

mbrsLIGHTBULBEight Ways to Maximize your ELFA Membership

  1. If your company is an ELFA member, you may create a member profile from the ELFA website and gain access to valuable, members-only resources.
       
  2. Regular members may participate in the Survey of Equipment Finance Activity (SEFA) and receive a free copy.

  3. Subscribe to the Washington Report, a monthly newsletter that keeps members up-to-date on ELFA’s advocacy efforts before federal policymakers, regulators and standard-setting bodies.

  4. Access the State Tax Manual, an easily navigated reference guide designed to aid equipment finance companies in tax compliance and planning.  This members-only resource provides a comprehensive state-by-state analysis of sales and property taxes.

  5. Help drive the association’s mission and volunteer on an ELFA committee.

  6. Access high-quality, interactive training and resources such as the NEW Equipment Finance Transaction Lifecycle through ELFA Academy.  

  7. Subscribe to the members-only, online discussion groups: LeaseTalk, AcctgTalk, LegalTalk, and TaxTalk to stay connected and exchange information with your peers.

  8. Take advantage of ELFA’s NEW online and interactive tools including our Wednesday Webinars@1 series, the ELFA Engage Mobile App and the Equipment Finance Matters Podcast
Do you have any questions regarding the benefits of ELFA membership? Please contact the Membership Department at membership@elfaonline.org.

 

Gwen Moran is a New Jersey-based freelance business and finance writer.
Categories :
  • HUMAN CAPITAL
Article Type :
  • Featured Story
Column :
Department :
MeetMbrsHERO
Article Author(s)

Meet the New ELFA Members

Nov 17, 2020, 13:51 PM
From seasoned financing pros to successful members of other industries, ELFA’s new members bring big ideas and fresh thinking to the organization.

From seasoned financing pros to successful members of other industries, ELFA’s new members bring big ideas and fresh thinking to the organization.

NewMbrs

To say that 2020 has brought change to ELFA and its members is an understatement.
But, like every tumultuous time since the organization was founded, members have shown themselves to be remarkably resilient and adaptive. These five new ELFA member companies span industry sectors and financing experience, but they all bring valuable attributes and insight to the organization. Here are their stories.

KellyCarteret
Kelly DeCarteret
DeCarteret Transport, LLC

Coordinating the logistics and transportation of trucks, trailers and heavy equipment around the country is challenging enough on its own. But add in the global pandemic and its impact on the supply chain and resources and you’ve got a next-level challenge. Houston-based DeCarteret Transport (KDT) incorporates “failure is not an option” into its daily work ethic. The company, which launched just four years ago, is a certified Woman-Owned Business and has grown to $12 million in annual revenue, executing over 1,000 transports per month.

Founder Kelly DeCarteret got her start in the industry more than 12 years ago, when she discovered her service skills were something that set her apart. To this day, KDT is a repeat and referral-based company, where business is grown organically. “It’s truly about doing the right thing. Treating people with respect, communicating the variables and following through with what you say,” DeCarteret says. The company’s team of 13 employees are dedicated to the KDT culture of hard work and problem-solving service. “Every transport is unique with its own set of circumstances. It takes people, not automation, to be engaged and to work through situations with everyone involved,” she says.

DeCarteret was referred to ELFA through one of her customers, who encouraged her to attend the Equipment Management Conference in Orlando in February 2020. Joining ELFA has helped her to network and to explore market trends in the equipment finance industry. While she hasn’t been able to take advantage of many other ELFA offerings yet, she looks forward to getting more involved in 2021 once the pandemic is no longer a threat.

“ELFA has given me the information and insight into what our customers are up against, which enables KDT to better serve their needs,” she says.

2020 Membership Milestones


Celebrating 45 Years

Daimler Truck Financial
GFC Leasing-A Division of the Gordon Flesch Company, Inc.
Pitney Bowes Global Financial Services LLC

Celebrating 40 Years
Buchalter
CSI Leasing, Inc.

Celebrating 35 Years
ADP Commercial Leasing, LLC
AT&T Capital Services, Inc.
BNY Capital Resources Corporation
Boston Financial & Equity Corporation
NEC Financial Services, LLC
Raymond Leasing Corporation
Siemens Financial Services, Inc.
White & Case LLP

Celebrating 30 Years
Blank Rome LLP
CWB National Leasing
Frandzel Robins Bloom & Csato, L.C.
GreatAmerica Financial Services
Hitachi Capital America Corp.
Ivory Consulting Corporation
North Mill Equipment Finance
Webster Capital Finance, Inc.

Celebrating 25 Years
California First National Bank
Dexter Financial Services, Inc.
Jaffe Raitt Heuer & Weiss, P.C.
Messerli Kramer
Union Bank-Leasing & Asset Finance Division
Volvo Financial Services
Wallwork Financial

Celebrating 20 Years
AP Equipment Financing
Brandywine Capital Associates, Inc.
Capital One N/A
Compeer Financial
Crestmark Equipment Finance, a division of MetaBank
Ernst & Young LLP
Executive Solutions for Leasing and Finance, Inc.
Jenkins & Kling, P.C.
PayNet, an Equifax Company
Rockwell Financial Group
Société Generale Equipment Finance
VFI Corporate Finance
Wafra Capital Partners Inc.


JoeRisberg
Joseph Risberg
Diesel Leasing & Financial Services

If you can’t find what you need, build it. That’s how Doggett Equipment Services Group became one of North America’s leading equipment dealership groups. The company includes 16 John Deere construction and forestry equipment dealerships, seven Toyota material handling equipment dealerships and eight Freightliner truck and trailer dealerships, among other manufacturers. The company prides itself on its commitment to service. So, the next step was evident: create an equipment financing arm that would provide a similar level of service across its dealerships and brands.

That’s how Diesel Leasing & Financial Services came to be in 2019. Joseph Risberg, Vice President, says that the new captive entity dovetails nicely into the Doggett family business and gives the entire entity more opportunities to service customers. “It improves our ability to be a ‘one-stop shop’ for someone who needs everything from heavy-duty construction equipment to a Ford F-150,” he says.

When you’ve been in the credit and financing sector for nearly a quarter-century, as Risberg has, you know what’s going to help your business. So, shortly after Diesel Leasing & Financial Services was formed, Risberg joined ELFA for both the resources it provides and the organization’s leadership.

“ELFA has been the ‘spokes group’ for what our industry needs,” he says. “I really appreciate how they champion our causes through Congress and create a forum where finance entities can interact. Knowing we have a unified voice out there to promote and represent our interests is fantastic.”

As the pandemic has hit many businesses hard, Risberg says the personalized service Diesel provides is more important than ever. His team can work with business owners to understand their unique circumstances and craft solutions that are right for them. He is hopeful that this differentiator will help the organization as a whole expand its already considerable footprint throughout the south and beyond.

Kudos to the ELFA Membership Committee!

MbrCommitteeIn 2020, the Membership Committee worked closely with the ELFA Membership Department to assist in the association’s recruitment and retention initiatives. With the committee’s assistance, ELFA met and exceeded its membership goals for the year.  Many thanks to the 2020 committee for their dedication and participation:

Alan Sikora, CLFP, Chair, First American Equipment Finance,
   an RBC / City National Company
Julie Benson, ELFA
Brett Boehm, TBF Financial, LLC
Donna Christensen, CSC
Mike Coon, Hanmi Bank
Tom Forbes, Wintrust Commercial Finance
Jon Gerson, Executive Solutions for Leasing and Finance, Inc.
Don Hansen, Regents Capital Corporation
Martin Klotzman, CLFP, Ivory Consulting Corp.
Chris Lerma, CLFP, AP Equipment Financing
Tom Mariani, CNH Industrial Capital LLC
Rick Matte, Encina Equipment Finance, LLC
Thomas Pericak, Hancock Whitney Equipment Finance, LLC
Nathan Petrie, PayNet, an Equifax Company
Marci Slagle, CLFP, BankFinancial, NA
Andrea Tzamaras, ELFA
Jeff Walker, CIMC Capital, Inc.
Mike Wiedemer, CLFP, First American Equipment Finance,
   an RBC / City National Company

Do you know of a company that would benefit from ELFA membership? Please email your recommendation to Julie Benson, VP of Membership Marketing, at jbenson@elfaonline.org.

DaleKluga
Dale Kluga

Providence Equipment Finance, a Division of Providence Bank & Trust

Dale Kluga had a long and storied history in banking and then in finance when he founded Cobra Capital in 2000. And that experience helped the company spot a good opportunity when it came about. So, when the McDonald’s Ventures team called Kluga about a movie-rental startup in 2003 and suggested his team consider extending financing, Cobra stepped up. What started with a half-million-dollar line for Redbox, which can now be found in many of America’s supermarket lobbies, became a $65 million equipment finance endeavor. “We at Cobra were the only creditors and lenders in the nation to finance the rollout of Redbox machines during that time period,” Kluga says.

In 2016, Providence Bank & Trust acquired the company and rebranded it. But the goal was the same: earnings growth through cultivating a specialty in small business equipment financing. Providence Equipment Finance, as the Villa Park, Illinois-based equipment financing division of Providence Bank is now called, specializes in funding equipment in the mid six-figure to low seven-figure range. Many banks can’t do such small deals efficiently or profitably, but it’s Providence’s specialty. “We’re really unusual in that we’re a niche-oriented funder that’s had tremendous success in financing emerging growth businesses,” he says.

Providence has enjoyed less than a 1% cumulative loss history over 20 consecutive years, including in its previous incarnation. “This is not a model that you can scale to do $500 million in volume. This is a boutique model, that you can maybe get up to $100 million in volume, but it has tremendous profit potential,” Kluga says. As part of a local community bank focused on creating a viable business model that adds value to the small business community, the model works. And Kluga will never lose his enthusiasm for the potential of small businesses—even in uncertain economic times.

“Even if we have some contraction in the small business market, I’m ready, willing and able to help those entrepreneurs that come back into the business with their existing networks and reestablish them in the financing marketplace,” he says.

2020 NEW MEMBERS

Auxilior Capital Partners, Inc
Black Star ACA, LLC    
Burnham Sterling & Company LLC
Chain Asset Management Solutions
DeCarteret Transport, LLC
Diesel Leasing and Financial Services
Equipment Finance Group LLC
Farm Credit Canada (FCC)
First Citizens Bank & Trust Co.
Gaelic Leasing Inc    
Kubota Credit Corporation, U.S.A.
KWIPPED, Inc.    
Lion Capital, LLC    
MachineryMax Auctions    
Meridian Equipment Finance
Midwest Equipment Funding, Inc
Nationwide Equipment Leasing, LLC
Northteq    
Palo Alto Networks, Inc.    
Perfection Global, LLC    
Providence Equipment Finance, A Division of Providence Bank & Trust
Resolvion, LLC    
Rimon, P.C.    
Skyjack Financial Services
South State Bank    
Star Hill Financial LLC
TopMark Funding, LLC    
UMB Bank, N.A.    
White Oak Equipment Finance 1, LLC



EvanLang
Evan Lang
TopMark Funding

If there’s a word that comes to mind when you mention TopMark Funding, it’s probably “trucks.” The financing company specializes in commercial vehicles—whether it’s large, commercial-class eight-wheelers, dump trucks, tow trucks and virtually any other kind of truck, TopMark has probably financed it. The company partners with dealerships and helps vehicle buyers grow their fleets. That specialization “is something that lives deep in our entire company,” says Evan Lang, Managing Partner.

And while the COVID-19 pandemic hit many sectors hard, the increased demand on the supply chain, shipping and freight sectors gave the sector traction again, Lang says. TopMark’s deep understanding of the trucking sector helps customers make decisions about the number of vehicles they need on the road to help meet demand and the technology they need to ensure seamless operations. With its knowledge of building fleets, TopMark helps the customer map out a growth plan and better understand its financing options over time. This both limits exposure and helps vehicle buyers maximize their potential for growth.

Lang is looking forward to the time when he can attend ELFA meetings and conferences in person, both for the networking opportunities and for the education opportunities. Although TopMark’s ELFA membership is new, the company has already benefitted from contacts made, including funding sources.

“We knew that if everybody at our company had that kind of institutional knowledge, it would make us better at what we do and we’ve certainly seen the benefits of that,” he says.

That’s important, as the firm is on a growth trajectory. Plans to penetrate the dealer market with extensive knowledge and a high level of service are working. The company expects revenue to increase by roughly 70% next year and roughly 50% the year after that. The company, which currently has 40 employees, also expects its headcount will continue to grow.

ChrisLyle
Christopher Lyle
Equipment Finance Group

When customers work with Cincinnati-based Equipment Finance Group, they not only get a partner to help them fund their equipment. They get the benefit of decades of experience in business and finance. Essentially, they get the advisory benefits that might typically come with a venture capital deal without giving up any equity.

Founder Christopher Lyle’s roots in equipment finance extend back to his first firm, which he founded in 1995. He joined the association when it was called ELA to learn best practices and benefit from networking for his fledgling business. He grew Landegger Capital Services into a successful global finance company serving firms in the industrial sector. After that subsidiary was dissolved, he went to work for equipment manufacturer Makino, where he built another successful captive finance entity for the company.

In 2010, Lyle launched EFG, which delivers a complete global captive finance solution to its customers in the plastics, machine tool and automation sectors. In addition to equipment funding solutions, EFG provides marketing and data solutions. The company has focused on developing its technology capabilities, which gives it an edge in how quickly it can turn deals around. “In many cases, where applications are only up to $500,000 per asset, we can do multiple assets, and we can turn those deals from a lead into funding in less than 24 hours,” he says.

And while Lyle didn’t realize he was founding a family business when he launched the company, two of his sons now work in the business as he runs part of it from his home base in Puerto Rico. They’ve largely spearheaded the conversion to becoming an entirely cloud-based company, which has allowed them to serve more customers with a leaner operation. Salesforce-powered data solutions let EFG quickly find past buyers of particular equipment and give banks remarketing capabilities.

“Through our database, we provide information to our vendors, not only for their customers, but their competitors’ customers and what their competitors are selling to them,” he says. “I don’t know a bank that’s doing what we’re doing.”

mbrsLIGHTBULBEight Ways to Maximize your ELFA Membership

  1. If your company is an ELFA member, you may create a member profile from the ELFA website and gain access to valuable, members-only resources.
       
  2. Regular members may participate in the Survey of Equipment Finance Activity (SEFA) and receive a free copy.

  3. Subscribe to the Washington Report, a monthly newsletter that keeps members up-to-date on ELFA’s advocacy efforts before federal policymakers, regulators and standard-setting bodies.

  4. Access the State Tax Manual, an easily navigated reference guide designed to aid equipment finance companies in tax compliance and planning.  This members-only resource provides a comprehensive state-by-state analysis of sales and property taxes.

  5. Help drive the association’s mission and volunteer on an ELFA committee.

  6. Access high-quality, interactive training and resources such as the NEW Equipment Finance Transaction Lifecycle through ELFA Academy.  

  7. Subscribe to the members-only, online discussion groups: LeaseTalk, AcctgTalk, LegalTalk, and TaxTalk to stay connected and exchange information with your peers.

  8. Take advantage of ELFA’s NEW online and interactive tools including our Wednesday Webinars@1 series, the ELFA Engage Mobile App and the Equipment Finance Matters Podcast
Do you have any questions regarding the benefits of ELFA membership? Please contact the Membership Department at membership@elfaonline.org.

 

Gwen Moran is a New Jersey-based freelance business and finance writer.
Categories :
  • HUMAN CAPITAL
Article Type :
  • Featured Story
Column :
Department :
MeetMbrsHERO
Article Author(s)

Meet the New ELFA Members

Nov 17, 2020, 13:51 PM
From seasoned financing pros to successful members of other industries, ELFA’s new members bring big ideas and fresh thinking to the organization.

From seasoned financing pros to successful members of other industries, ELFA’s new members bring big ideas and fresh thinking to the organization.

NewMbrs

To say that 2020 has brought change to ELFA and its members is an understatement.
But, like every tumultuous time since the organization was founded, members have shown themselves to be remarkably resilient and adaptive. These five new ELFA member companies span industry sectors and financing experience, but they all bring valuable attributes and insight to the organization. Here are their stories.

KellyCarteret
Kelly DeCarteret
DeCarteret Transport, LLC

Coordinating the logistics and transportation of trucks, trailers and heavy equipment around the country is challenging enough on its own. But add in the global pandemic and its impact on the supply chain and resources and you’ve got a next-level challenge. Houston-based DeCarteret Transport (KDT) incorporates “failure is not an option” into its daily work ethic. The company, which launched just four years ago, is a certified Woman-Owned Business and has grown to $12 million in annual revenue, executing over 1,000 transports per month.

Founder Kelly DeCarteret got her start in the industry more than 12 years ago, when she discovered her service skills were something that set her apart. To this day, KDT is a repeat and referral-based company, where business is grown organically. “It’s truly about doing the right thing. Treating people with respect, communicating the variables and following through with what you say,” DeCarteret says. The company’s team of 13 employees are dedicated to the KDT culture of hard work and problem-solving service. “Every transport is unique with its own set of circumstances. It takes people, not automation, to be engaged and to work through situations with everyone involved,” she says.

DeCarteret was referred to ELFA through one of her customers, who encouraged her to attend the Equipment Management Conference in Orlando in February 2020. Joining ELFA has helped her to network and to explore market trends in the equipment finance industry. While she hasn’t been able to take advantage of many other ELFA offerings yet, she looks forward to getting more involved in 2021 once the pandemic is no longer a threat.

“ELFA has given me the information and insight into what our customers are up against, which enables KDT to better serve their needs,” she says.

2020 Membership Milestones


Celebrating 45 Years

Daimler Truck Financial
GFC Leasing-A Division of the Gordon Flesch Company, Inc.
Pitney Bowes Global Financial Services LLC

Celebrating 40 Years
Buchalter
CSI Leasing, Inc.

Celebrating 35 Years
ADP Commercial Leasing, LLC
AT&T Capital Services, Inc.
BNY Capital Resources Corporation
Boston Financial & Equity Corporation
NEC Financial Services, LLC
Raymond Leasing Corporation
Siemens Financial Services, Inc.
White & Case LLP

Celebrating 30 Years
Blank Rome LLP
CWB National Leasing
Frandzel Robins Bloom & Csato, L.C.
GreatAmerica Financial Services
Hitachi Capital America Corp.
Ivory Consulting Corporation
North Mill Equipment Finance
Webster Capital Finance, Inc.

Celebrating 25 Years
California First National Bank
Dexter Financial Services, Inc.
Jaffe Raitt Heuer & Weiss, P.C.
Messerli Kramer
Union Bank-Leasing & Asset Finance Division
Volvo Financial Services
Wallwork Financial

Celebrating 20 Years
AP Equipment Financing
Brandywine Capital Associates, Inc.
Capital One N/A
Compeer Financial
Crestmark Equipment Finance, a division of MetaBank
Ernst & Young LLP
Executive Solutions for Leasing and Finance, Inc.
Jenkins & Kling, P.C.
PayNet, an Equifax Company
Rockwell Financial Group
Société Generale Equipment Finance
VFI Corporate Finance
Wafra Capital Partners Inc.


JoeRisberg
Joseph Risberg
Diesel Leasing & Financial Services

If you can’t find what you need, build it. That’s how Doggett Equipment Services Group became one of North America’s leading equipment dealership groups. The company includes 16 John Deere construction and forestry equipment dealerships, seven Toyota material handling equipment dealerships and eight Freightliner truck and trailer dealerships, among other manufacturers. The company prides itself on its commitment to service. So, the next step was evident: create an equipment financing arm that would provide a similar level of service across its dealerships and brands.

That’s how Diesel Leasing & Financial Services came to be in 2019. Joseph Risberg, Vice President, says that the new captive entity dovetails nicely into the Doggett family business and gives the entire entity more opportunities to service customers. “It improves our ability to be a ‘one-stop shop’ for someone who needs everything from heavy-duty construction equipment to a Ford F-150,” he says.

When you’ve been in the credit and financing sector for nearly a quarter-century, as Risberg has, you know what’s going to help your business. So, shortly after Diesel Leasing & Financial Services was formed, Risberg joined ELFA for both the resources it provides and the organization’s leadership.

“ELFA has been the ‘spokes group’ for what our industry needs,” he says. “I really appreciate how they champion our causes through Congress and create a forum where finance entities can interact. Knowing we have a unified voice out there to promote and represent our interests is fantastic.”

As the pandemic has hit many businesses hard, Risberg says the personalized service Diesel provides is more important than ever. His team can work with business owners to understand their unique circumstances and craft solutions that are right for them. He is hopeful that this differentiator will help the organization as a whole expand its already considerable footprint throughout the south and beyond.

Kudos to the ELFA Membership Committee!

MbrCommitteeIn 2020, the Membership Committee worked closely with the ELFA Membership Department to assist in the association’s recruitment and retention initiatives. With the committee’s assistance, ELFA met and exceeded its membership goals for the year.  Many thanks to the 2020 committee for their dedication and participation:

Alan Sikora, CLFP, Chair, First American Equipment Finance,
   an RBC / City National Company
Julie Benson, ELFA
Brett Boehm, TBF Financial, LLC
Donna Christensen, CSC
Mike Coon, Hanmi Bank
Tom Forbes, Wintrust Commercial Finance
Jon Gerson, Executive Solutions for Leasing and Finance, Inc.
Don Hansen, Regents Capital Corporation
Martin Klotzman, CLFP, Ivory Consulting Corp.
Chris Lerma, CLFP, AP Equipment Financing
Tom Mariani, CNH Industrial Capital LLC
Rick Matte, Encina Equipment Finance, LLC
Thomas Pericak, Hancock Whitney Equipment Finance, LLC
Nathan Petrie, PayNet, an Equifax Company
Marci Slagle, CLFP, BankFinancial, NA
Andrea Tzamaras, ELFA
Jeff Walker, CIMC Capital, Inc.
Mike Wiedemer, CLFP, First American Equipment Finance,
   an RBC / City National Company

Do you know of a company that would benefit from ELFA membership? Please email your recommendation to Julie Benson, VP of Membership Marketing, at jbenson@elfaonline.org.

DaleKluga
Dale Kluga

Providence Equipment Finance, a Division of Providence Bank & Trust

Dale Kluga had a long and storied history in banking and then in finance when he founded Cobra Capital in 2000. And that experience helped the company spot a good opportunity when it came about. So, when the McDonald’s Ventures team called Kluga about a movie-rental startup in 2003 and suggested his team consider extending financing, Cobra stepped up. What started with a half-million-dollar line for Redbox, which can now be found in many of America’s supermarket lobbies, became a $65 million equipment finance endeavor. “We at Cobra were the only creditors and lenders in the nation to finance the rollout of Redbox machines during that time period,” Kluga says.

In 2016, Providence Bank & Trust acquired the company and rebranded it. But the goal was the same: earnings growth through cultivating a specialty in small business equipment financing. Providence Equipment Finance, as the Villa Park, Illinois-based equipment financing division of Providence Bank is now called, specializes in funding equipment in the mid six-figure to low seven-figure range. Many banks can’t do such small deals efficiently or profitably, but it’s Providence’s specialty. “We’re really unusual in that we’re a niche-oriented funder that’s had tremendous success in financing emerging growth businesses,” he says.

Providence has enjoyed less than a 1% cumulative loss history over 20 consecutive years, including in its previous incarnation. “This is not a model that you can scale to do $500 million in volume. This is a boutique model, that you can maybe get up to $100 million in volume, but it has tremendous profit potential,” Kluga says. As part of a local community bank focused on creating a viable business model that adds value to the small business community, the model works. And Kluga will never lose his enthusiasm for the potential of small businesses—even in uncertain economic times.

“Even if we have some contraction in the small business market, I’m ready, willing and able to help those entrepreneurs that come back into the business with their existing networks and reestablish them in the financing marketplace,” he says.

2020 NEW MEMBERS

Auxilior Capital Partners, Inc
Black Star ACA, LLC    
Burnham Sterling & Company LLC
Chain Asset Management Solutions
DeCarteret Transport, LLC
Diesel Leasing and Financial Services
Equipment Finance Group LLC
Farm Credit Canada (FCC)
First Citizens Bank & Trust Co.
Gaelic Leasing Inc    
Kubota Credit Corporation, U.S.A.
KWIPPED, Inc.    
Lion Capital, LLC    
MachineryMax Auctions    
Meridian Equipment Finance
Midwest Equipment Funding, Inc
Nationwide Equipment Leasing, LLC
Northteq    
Palo Alto Networks, Inc.    
Perfection Global, LLC    
Providence Equipment Finance, A Division of Providence Bank & Trust
Resolvion, LLC    
Rimon, P.C.    
Skyjack Financial Services
South State Bank    
Star Hill Financial LLC
TopMark Funding, LLC    
UMB Bank, N.A.    
White Oak Equipment Finance 1, LLC



EvanLang
Evan Lang
TopMark Funding

If there’s a word that comes to mind when you mention TopMark Funding, it’s probably “trucks.” The financing company specializes in commercial vehicles—whether it’s large, commercial-class eight-wheelers, dump trucks, tow trucks and virtually any other kind of truck, TopMark has probably financed it. The company partners with dealerships and helps vehicle buyers grow their fleets. That specialization “is something that lives deep in our entire company,” says Evan Lang, Managing Partner.

And while the COVID-19 pandemic hit many sectors hard, the increased demand on the supply chain, shipping and freight sectors gave the sector traction again, Lang says. TopMark’s deep understanding of the trucking sector helps customers make decisions about the number of vehicles they need on the road to help meet demand and the technology they need to ensure seamless operations. With its knowledge of building fleets, TopMark helps the customer map out a growth plan and better understand its financing options over time. This both limits exposure and helps vehicle buyers maximize their potential for growth.

Lang is looking forward to the time when he can attend ELFA meetings and conferences in person, both for the networking opportunities and for the education opportunities. Although TopMark’s ELFA membership is new, the company has already benefitted from contacts made, including funding sources.

“We knew that if everybody at our company had that kind of institutional knowledge, it would make us better at what we do and we’ve certainly seen the benefits of that,” he says.

That’s important, as the firm is on a growth trajectory. Plans to penetrate the dealer market with extensive knowledge and a high level of service are working. The company expects revenue to increase by roughly 70% next year and roughly 50% the year after that. The company, which currently has 40 employees, also expects its headcount will continue to grow.

ChrisLyle
Christopher Lyle
Equipment Finance Group

When customers work with Cincinnati-based Equipment Finance Group, they not only get a partner to help them fund their equipment. They get the benefit of decades of experience in business and finance. Essentially, they get the advisory benefits that might typically come with a venture capital deal without giving up any equity.

Founder Christopher Lyle’s roots in equipment finance extend back to his first firm, which he founded in 1995. He joined the association when it was called ELA to learn best practices and benefit from networking for his fledgling business. He grew Landegger Capital Services into a successful global finance company serving firms in the industrial sector. After that subsidiary was dissolved, he went to work for equipment manufacturer Makino, where he built another successful captive finance entity for the company.

In 2010, Lyle launched EFG, which delivers a complete global captive finance solution to its customers in the plastics, machine tool and automation sectors. In addition to equipment funding solutions, EFG provides marketing and data solutions. The company has focused on developing its technology capabilities, which gives it an edge in how quickly it can turn deals around. “In many cases, where applications are only up to $500,000 per asset, we can do multiple assets, and we can turn those deals from a lead into funding in less than 24 hours,” he says.

And while Lyle didn’t realize he was founding a family business when he launched the company, two of his sons now work in the business as he runs part of it from his home base in Puerto Rico. They’ve largely spearheaded the conversion to becoming an entirely cloud-based company, which has allowed them to serve more customers with a leaner operation. Salesforce-powered data solutions let EFG quickly find past buyers of particular equipment and give banks remarketing capabilities.

“Through our database, we provide information to our vendors, not only for their customers, but their competitors’ customers and what their competitors are selling to them,” he says. “I don’t know a bank that’s doing what we’re doing.”

mbrsLIGHTBULBEight Ways to Maximize your ELFA Membership

  1. If your company is an ELFA member, you may create a member profile from the ELFA website and gain access to valuable, members-only resources.
       
  2. Regular members may participate in the Survey of Equipment Finance Activity (SEFA) and receive a free copy.

  3. Subscribe to the Washington Report, a monthly newsletter that keeps members up-to-date on ELFA’s advocacy efforts before federal policymakers, regulators and standard-setting bodies.

  4. Access the State Tax Manual, an easily navigated reference guide designed to aid equipment finance companies in tax compliance and planning.  This members-only resource provides a comprehensive state-by-state analysis of sales and property taxes.

  5. Help drive the association’s mission and volunteer on an ELFA committee.

  6. Access high-quality, interactive training and resources such as the NEW Equipment Finance Transaction Lifecycle through ELFA Academy.  

  7. Subscribe to the members-only, online discussion groups: LeaseTalk, AcctgTalk, LegalTalk, and TaxTalk to stay connected and exchange information with your peers.

  8. Take advantage of ELFA’s NEW online and interactive tools including our Wednesday Webinars@1 series, the ELFA Engage Mobile App and the Equipment Finance Matters Podcast
Do you have any questions regarding the benefits of ELFA membership? Please contact the Membership Department at membership@elfaonline.org.

 

Gwen Moran is a New Jersey-based freelance business and finance writer.
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