Leasing News, Tuesday, April 3 from Waikoloa Village, Kona, Hawaa'i

April 3, 2001

( to be posted soon at www.leasingnews.org

Headlines----

"ORIX To Close Offices," Insider Says

Robert New/UniCapital Co-Founder

Sanwa-Tokai Merge

LeaseLoan

CIT

Crosspoint

Attorneys Doing Well in Economy, says Kelly Staffing

NAELB April 5 "Early Bird" Closes

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Aloha!!!

The site's not been updated in a few days. Everything OK?

BLONDIEXYZ@aol.com

(We did not have a leasing news on Friday, I wrote the Firewall Report prior

to leaving for Hawaii, and Thursday was written late Wendesday night. I did

not write over the weekend and Monday was late, primarily due to the three

hour time difference and a computer which crashed. We are here planning

Sue's eldest daughter's wedding for June 16. We have done this before, and

find it best to meet with people eyeball-to-eyeball, work out all the

details, taste the food, and this is more difficult as we send digital

pictures and information to the intended bride and groom for their final

decision, and it seems the more information we gather, the more questions

and alternative come up. If you have ever planned a wedding, you know how

much work it is. The wedding couple chose the site. Sue does most of the

work. I am the cameraman and gofer.

(I also have not added anyone to the mailing list and am not looking forward

to going home and adding over 150 in one day. We leave early this

afternoon. I hope Monday's is posted soon, and this one to follow.

Thank you for asking.

Kit Menkin

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Insider--from a highly reliable source at Orix

We had a meeting of many of the top personnel and learned that we will be

closing most offices, including the Secaucus, New Jersey home office and

consolidating all functions in Atlanta. The reorganized company will be

engaged in asset based financing, structured deals, and other financing. No

mention was made of the Equipment Group (the original orix). It appears

that the closing will occur by October of this year. Please do not mention

my name.

Name With Held

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Now " 'a' premier equipment leasing attorney"

Thank you Kit for your kind words. However, please post that there are many

premiere and well qualified leasing attorneys throughout the country that I

have the pleasure to know and also respect very much.

Joe Bonanno

ATTYJGB@aol.com

_____________________________________________________________________

http://www.leasingnews.org/archives/March01/3-13-01a.htm

New Orleans National Association of Equipment Leasing Brokers Conference

"early bird" deadline is April 5. Above is a link to the conference

brochure and registration.

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LCA--JDR

Leasing News has received several reports in the last few months that

LCA, Troy, Michigan has been laying off employees, having other

difficulties, and may be in the process of more than just "downsizing>"

We are also working on the JDR Capital story, a company greatly affected by

the demise of some very large funders and superbrokers. Any information

readers can send us about your experience we will share with readers. I have

attempted to contact the president of JDR,and will try again for an

exclusive interview.

___________________________________________________________________________

Robert New

It is a sad day when certain people die. The following is not meant to

de-emphasize the losses suffered by the family and loved ones of Robert New.

The article on Robert New touches on one of the problems in our industry as

well as others on Wall St. This man made huge amounts of money at the

expense of others. He wrongly used the companies accounts for unduly

expensive trips and financed lavish "get togethers". I have met people like

this and it amazes me they get away with what they do. The PinnLease/Fund

situation is one example, T&W Leasing is another. I know a few people

personally who are millionaires while building companies that are based upon

a quasi-fraudulent foundations. This goes back to the several articles

written in Leasing News on funder fraud. If the funders were not developing

inherently weak business models designed to layer their pockets with

undeserved millions, we as brokers would NOT be struggling to reach our well

deserved goals. How do we solve the problem? Align yourself with companies

that are ethical. Do not be tempted by the "too good to be true" funder.

Sometimes transactions get approved that otherwise would not but generally

these same deals could get done but with more work and a higher rate.

Sometimes the "easy way" is really the hard way. How may people aligned

with funders that are out of business? Where did the rapport go that you

built with those funders? Did you suffer financially in any way? Again,

like good funders, it is hard to find good people. Be good to the ones you

find and they will reward you in the long run.

-Anonymous

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SANWA-BANK-CALIFORNIA)(SANWA)

Sanwa Bank California and Tokai Bank of California

Agree To Merge Under a New Name -- United California

Bank

(VERY ACTIVE ON WEST COAST)

##################################################

LOS ANGELES-- (BUSINESS WIRE)--April 3, 2001--

Merged bank will be the third largest bank chartered in California

Two prestigious and influential banks of long standing in California

have

agreed to merge under a new name -- United California Bank.

Sanwa Bank California, with assets of $9.3 billion, and Tokai Bank of

California with assets of $1.9 billion -- which together have amassed more

than 150 years of banking experience in California -- have agreed to fully

combine their operations statewide.

The announcement was made by Ryosuke Tamakoshi, president and

chief executive officer for Sanwa, and Kazunori Nishimoto, president of

Tokai, following approval of the merger by the boards of the two banks.

The agreement stems from the ongoing consolidation in Japan of The

Sanwa Bank, Limited and The Tokai Bank, Limited, which together with

The Toyo Trust and Banking Company will combine under a newly

established bank holding company called UFJ Holdings Inc.

The consolidation of the parent banks was announced in early 2000 and

will be completed by spring of 2002. UFJ Holdings Inc. is one of the

world's largest banking groups with consolidated assets of approximately

$780 billion.

"The bank that will spring from the experience and resources of these

two institutions will be a cornerstone of the growing California economy,"

said Sanwa's president Tamakoshi.

"United California Bank will benefit from the strength and global reach

UFJ Holdings," Tamakoshi said. "The name also underscores our

commitment to California, which we think is the most exciting economy in

the world. With this merger, we believe our financial services organization

will be even more effective in supporting its customers than either bank is

on its own today," Tamakoshi concluded.

Tokai president Nishimoto is enthusiastic about the new bank's

prospects and agrees that customers of both Sanwa and Tokai should

benefit from the synergies inherent in the combination.

"The merger represents an opportunity to expand the array of services

offered to clients and enhance the resources available to support business

relationships," Nishimoto said.

In February, Sanwa Bank California reported a sixth consecutive year of

record earnings for the year 2000 with net income of $128.6 million, a gain

of 8 percent over the prior year.

Tokai Bank of California reported record earnings for 2000 as well,

with its $28.2 million in net income exceeding the previous year's earnings

by nearly 50 percent.

United California Bank will be formally established on July 2, 2001,

contingent upon the approvals of the FDIC and the California Department

of Financial Institutions. It will be California State chartered and FDIC

regulated and operate more than 110 branches in California, from San

Diego to Sacramento.

United California Bank will combine the consumer and commercial

expertise of the two banks to be highly competitive in serving individuals,

small business and mid-tier companies throughout the state.

Both banks have a rich history of serving the financial and banking

needs

of Californians.

Sanwa Bank California traces its origins to 1868 when its first

predecessor bank opened its doors during the post-Gold Rush Era. Sanwa

Bank of California, a wholly owned subsidiary of The Sanwa Bank,

Limited, was established in 1972.

Following a merger in 1978 with Golden State Bank, one of the oldest

financial institutions in California, the bank's name was changed to Golden

State Sanwa Bank. In 1986, The Sanwa Bank, Limited, acquired Lloyds

Bank California and merged it with Golden State Sanwa Bank to create the

present day Sanwa Bank California.

Currently, Sanwa has 108 branches statewide and almost 3,000

employees.

Since its inception in 1974, Tokai Bank of California has expanded to

encompass a network of 15 offices around the state. The bank doubled in

size in 1975 when it acquired Centinela Bank, which operated offices in

Orange County and West Los Angeles. Tokai again doubled in 1982 by

acquiring Continental Bank in the San Gabriel Valley.

Together as United California Bank, Sanwa and Tokai will have

enhanced capability and versatility in meeting the needs of retail banking

and commercial banking customers. Both institutions bring with them solid

reputations as premier California banks emphasizing relationship-oriented

service.

Note: Sanwa Bank news releases are available via fax by dialing

NewsOnDemand toll free at 888/329-5714.

--30--rs/la*

#######################################################

No Interest Lease

Readers have written us that they are seeing 8% $1.00 out "capital leases"

from

major capital leasing companies . They ask if it is true. Yes, if the

credit is prime,

medical or well established, as vendors want to push products. Here is a

San Jose,

Califonia computer manufacturer, the number one seller in America, with

"no interest" lease ( of course, it is a "capital lease." ):

Compaq Offers 0% Interest Program

Financing is increasingly important to SMBs who need to maximize

cash flow, yet want the flexibility to upgrade technology easily and

affordably as their businesses grow. Compaq Financial Services offers

several programs for

growing businesses to make it possible to get the technology they need.

New programs include the Compaq ProLiant $0 Down - 0% Interest

Program(14). Customers can acquire the ProLiant solution they need now and

make lease payments over 30 months with no interest and no down payment.

Qualifying servers include the ProLiant ML330, ML350, ML370, CL380, DL320,

DL360 and DL380. In addition, CFS offers special leasing programs for

start-up and new companies.

-----------------------------------------------------------------------------

-------------------

the eLease Up-date Report the end of this week. It was delayed due the

difficulty in obtaining information.

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Here is an announcement from LeaseLoan:

#################################################################

LeaseLoan Unveils Quick, Convenient and Cost-Free Vendor Services Program;

Technology Platform Blends with Traditional Leasing Services to Enable SMBs

Greater Business Opportunities

TRUCKEE, Calif.--(BUSINESS WIRE)--April 3, 2001--LeaseLoan, an online

lending marketplace that provides real-time business financing for small

businesses, today unveiled its Vendor Services Program, a free service to

small to medium-sized businesses (SMBs) nationwide. LeaseLoan's web-based

Vendor Services Program helps businesses increase sales and margins by

offering their customers instant credit approvals, real-time tracking of the

financing process, document generation for instant closings and personalized

service. Unlike existing leasing programs, LeaseLoan offers it services for

free to both parties involved -- decreasing operational costs of the vendor

while increasing sales potential.

Via a secure Internet-based system, LeaseLoan's goal is to make commercial

finance for SMBs as easy as a credit card transaction by establishing

efficient relationships with both vendors and end users. LeaseLoan's new

vendor platform speeds up the contract financing process via cutting-edge

technology and a patented leasing process. Most customer credit approvals

can be obtained in just 30 seconds. And with a wide credit window and an

extensive pool of lenders, LeaseLoan can say "yes" to more business

transactions than any other single lender.

"When you're negotiating a large-dollar transaction with one of your most

important customers, you no doubt want the transaction to run smoothly,"

said Matt Grissom, leasing overlay manager for AVCOM, the largest Sun

Microsystems reseller in the nation. "LeaseLoan has been an educated, viable

option for commercial financing. And they have been instrumental in getting

our hard-to-do leases done."

Vendors, such as AVCOM have a one-time, simple, account establishment to

sign their company up to receive:

-- 30 Second Credit Decisions -- A vendor (and its customer) gets

a credit decision in seconds, versus days or weeks, allowing

quick decisions for the ever-changing small business

environment.

-- Same Session Documentation -- Documents print right at the

computer seconds after a credit approval. The customer can get

the equipment from the vendor and have it delivered to their

business in a shorter amount of time.

-- Account Management -- 24/7 status and tracking of

transactions. This allows Vendors and their customers to track

their specific transactions when they have the time.

"We're providing businesses with a convenient payment method for acquiring

equipment," said Nick Pullen, CEO of LeaseLoan. "The end result is a

seamless program that completes the sales cycle and puts equipment in the

customer's hands faster and easier than ever before."

LeaseLoan's commitment to customer service and support stands above others

in today's online economy and includes a vendor services support team that

offers on-going sales training, sales assistance and customer support.

LeaseLoan is meeting a critical, current need in the industry: to fund and

support small businesses more efficiently while at the same time,

streamlining the credit evaluation and procurement process for funding

sources. One-third of all equipment is sold through leasing and 93 percent

of U.S. companies using leasing as a method to acquire equipment.

About LeaseLoan

LeaseLoan is an online provider of real-time commercial financing for small

to medium-sized businesses. LeaseLoan creates efficiencies in financing for

all business owners, vendors, and lenders: business owners get free,

30-second decisions and online documentation with a wide credit window;

vendors get point of sale closing capabilities with a wide credit window

enabling greater sales, and lenders get to purchase closed transactions that

make sense for their portfolio while at the same time reducing processing

costs. LeaseLoan manages the transaction from start to finish, guiding the

customer through the process avoiding an awkward customer pass from one

institution to the next. In addition to assisting with capital, LeaseLoan

assists new businesses with educational and product fulfillment services

that promote long-term growth. For more information call 800/600-4396 or

visit www.LeaseLoan.com.

CONTACT:

LeaseLoan

TJ Kelly, 530/550-7008

TJ-Kelly@leaseloan.com

Lyman Public Relations

Carm Lyman, 775/832-9703

carm@lymanpr.com

KEYWORD: CALIFORNIA

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CIT Small Business Lending Corporation, Nation's #1 SBA Lender; Announces

First of Its Kind Partnership With Sunbelt Network

LIVINGSTON, N.J.--(BUSINESS WIRE)-- --CIT Small Business Lending

Corporation, the nation's number one small business lender and a unit of CIT

(NYSE:CIT; TSE:CIT.U), a leading global source for financing and leasing

capital, announced a first of its kind agreement aimed at increasing

financing accessibility to small business owners with Sunbelt Business

Brokers Network, the largest business brokerage firm in the world.

The financing approval process will begin electronically from a Sunbelt

broker's initial business listing with CIT immediately commencing its

review. If the listing meets CIT's basic loan pre-qualification

requirements, a loan pre-qualification can be turned around in 24 to 48

hours. For the right buyer, CIT can offer a flexible loan structure,

specifically targeted towards business acquisitions and tailored to a

buyer's financial needs.

"This alliance evolved from the need for most prospective business buyers to

secure financing, a process that can become a major obstacle to the

acquisition of a business," said Chris Lehnes, vice president of Business

Development for CIT Small Business Lending. "From the viewpoint of a seller,

a pre-qualified loan can make all the difference in closing the deal. The

alliance with Sunbelt, a long-time source of loan referrals for CIT, made

absolute sense, because it will provide us with a broader base of customers

and allow Sunbelt to offer its clients greater and easier access to

financing."

"Since banks rarely approve financing for a new buyer, utilizing a business

brokerage service can easily simplify the process, especially when working

in coordination with a lending association," said Dennis D'Annunzio, Sr.,

Sunbelt's chief executive officer. "The collaboration with CIT Small

Business Lending Corporation, the nation's Number One Small Business Lender;

and Sunbelt, the world's largest business brokerage firm, will streamline

the financing process, ultimately allowing brokers to assist clients in

closing deals more quickly and easily."

About Sunbelt

Leading the way with cutting edge marketing technology, the experience of

over twenty years of selling businesses and the continued quest for complete

customer satisfaction keeps Sunbelt on top. For more information on the

Sunbelt Network, it's broker services or franchises and businesses for sale,

visit their Web site at www.sunbeltnetwork.com.

About CIT Small Business Lending Corporation

CIT Small Business Lending Corporation is a unit of CIT. For more

information on the financing products and services CIT provides to small

business owners, please visit www.smallbizlending.com.

CIT is a leading global source of financing and leasing capital and an

advisor to companies in a variety of diverse industries. Managing more than

$50 billion in managed assets across a diversified portfolio, CIT is the

trusted financial engine empowering many of today's industry leaders and

emerging businesses, offering vendor, equipment, commercial, factoring,

consumer and structured financing capabilities. Founded in 1908, CIT

operates extensively in the United States and Canada with strategic

locations in Europe, Latin and South America, and the Pacific Rim. For more

information on CIT, visit the Web site at www.cit.com.

CONTACT:

Sunbelt Public Relations Manager

Alison Van Horn, 843/853-4781 x118

alison@sunbeltnetwork.com