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| August
29, 2000 LEASING
NEWS 8/29/99 New Feature On Line: Whatever Happened to...Hal Horowitz http://www.leasingnews.org/whateverhappenedto/Halthorowitz.htm
Capital Stream---How They Handle Applications On Line In essence, they are asked to check a box authorizing the financing source to pull credit. If this box is not checked, permission cannot be deemed granted. You also have the ability to have them print sign and fax the authorization if you want to require that.
Mar'ia Adkisson mariaa@capitalstream.com CIT's Bob Cragin Commenting about banks not being in favor of "on line" information or using the internet, and prediction people would not use ATM's--- You probably also remember when (in 1968) most banks wouldn't sign up for the new Master Charge credit card program........it would never work against the mighty BankAmericard!!!! Bob
Cragin Kit, I enjoyed this new feature very much. It was great hearing from Hal. He and Barb are great people and I am glad they are having a good life. I can hardly wait until the next "Whatever Happened to.." piece. Keep up the good work,
Ginny Young FutureVest, Inc. Signs a Letter of Intent to Acquire Lease2save.com for $40 Million FutureVest Extends e-Finance Initiatives With b2b Equipment Finance Lease2save.com ( powers cocoexchange among others, see list in story**** editor ) FORT LAUDERDALE, Fla., Aug. 29 /PRNewswire/ -- Garrett K. Krause, Chairman of FutureVest, Inc. has announced that the Company has signed a letter of intent to acquire on-line equipment leasing leader Lease2save.com, Inc. Upon the completion of this acquisition, FutureVest will accelerate the delivery of a core technology platform that includes leasing and exchange capabilities, to its existing and growing network of e-finance initiatives. Lease2Save.com will operate as a wholly owned subsidiary of FutureVest and will relocate to the Los Angeles and Fort Lauderdale offices of FutureVest. FutureVest will immediately pursue implementations of Lease2Save.com's advanced commerce technology within the FutureVest e-finance platform. Lease2Save.com's patent-pending technology and implementation services add to FutureVest's ability to provide a robust and complete e-finance platform. The advanced patent-pending Lease2save.com Bidding Arena Marketplace is ideally suited for expansion into other e-finance applications within the FutureVest environment. These services include business loans, insurance and mortgage origination. "With Lease2Save.com, we acquire a technically advanced commerce platform that will enhance our e-finance offerings while allowing us to establish new customers and partnerships by offering Lease2Save.com's technology," said Garrett K. Krause, Chairman of FutureVest. Through this acquisition, Lease2Save.com will now have the ability to leverage the technical and operational resources of FutureVest to enhance its product portfolio. Furthermore, the financial resources of FutureVest will allow Lease2save.com to further develop its patent-pending web-based software, launch new business services and execute a national sales and marketing campaign. Additionally, Lease2Save.com has plans to immediately begin developing a wireless service platform. Unlike most on-line business loan/lease services, Lease2save.com is NOT a lead generator for banks. Lease2save.com offers businesses the tools to compare their financing options create a custom payment schedule tailored to their specific cash flow condition and then have the nation's premier lenders compete for their application. "Lease2save.com is also positioned for rapid market acceptance and growth, as it allows business owners, equipment vendors and lessors to all immediately incorporate our advanced leasing system with very little development costs," says Lease2save.com's President and CEO Brian G. Murray. The leasing of business equipment comprises about one-third of the $800 Billion spent yearly on capital business expenditures in the United States, according to figures supplied by The Equipment Leasing Association of America. Nationwide, the equipment leasing industry totals $233 Billion in annual revenues. With a strong economy and an increase in equipment obsolescence, this niche of the leasing industry is considered a growth market. Funding institutions are drawn to Lease2save.com because they have access to a large pool of lease proposals, which are decision-ready. Lease2save.com presents a fully completed lease application, credit history, bank information and financials, if applicable. They have affiliate relationships with***** Allstate Leasing, Amresco Capital, Atel Business Credit, Crocker Capital, DirectLease, Mission Pacific Capital, Crest Capital, PinnLease USA, Premiere Capital and Balboa Capital among numerous others. Krause acknowledges the transaction is a major step forward for both organizations. "This transaction further represents our commitment and strategy to leverage ancillary e-finance products and services across our FutureVest network." About FutureVest, Inc. FutureVest is an e-finance company. FutureVest will provide insightful and relevant financial research and content, offer and sell publicly traded securities including IPO's, Mutual and Venture Funds, comprehensive consumer, commercial and merchant banking services, insurance and trust, as well as mortgage and lending products and services, all under one "roof", and all fully customer-accessible around the globe, 24-hours a day, 7-days a week. FutureVest is a Web Capital Ventures, Inc. portfolio company. Web Capital Ventures is a global business partner of IBM (NYSE: IBM). About Lease2Save.com Established in 1999, Lease2Save.com is becoming an industry leader in online capital equipment leasing ensuring business-to-business customers a comprehensive, information-rich, neutral marketplace for capital equipment leasing. Lease2Save.com offers unparalleled real-time comparison-shopping, selection and lease closing ensuring businesses that they will find the optimum lease to meet their specific needs. Statements in this release are made pursuant to the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that such forward-looking statements involve risk and uncertainties including, without limitation, continued acceptance of the Company's services, increased levels of competition for the Company and dependence on the performance of the Management of the Company. SOURCE
FutureVest, Inc. Ag Services of America, Inc. and Powerfarm, Inc. to Provide Vehicle and Equipment Leasing CEDAR FALLS, Iowa, Aug. 29 /PRNewswire/ -- Ag Services of America, Inc. (NYSE: ASV) and its subsidiary Powerfarm, Inc. recently added a leasing option to an already extensive offering of crop inputs and flexible financing programs. Leasing is now available to producers online through Powerfarm.com or through field representatives of Ag Services of America, Inc. with administrative and back end support being provided by Leasexpress(R), a service of Farm Credit Leasing, which has over 30 years of experience in agricultural equipment leasing. Through this leasing option, producers are able to acquire and lease new vehicles and lease farm equipment from tractors and combines to processing equipment. The addition of vehicle and equipment leasing follows the company's strong tradition of providing innovative solutions for agricultural financing. Leasing may provide farmers the ability to acquire equipment without affecting their other credit arrangements, giving them the ability to rapidly react to changes. In certain situations, leasing may also provide a year-end tax-advantage for producers. "Leasexpress leases almost any vehicle, equipment and farm building that is utilized in farming today," said Art Blair, Regional Sales Manager for Farm Credit Leasing. "We were attracted to a collaborative effort with Powerfarm.com and Ag Services because of the length of time the company has been operating and their dedication to agriculture." "The leasing program administered by Leasexpress expands the range of flexible financing options that we provide to farm operators," said Brad Schlotfeldt, Senior Executive Officer for Ag Services of America, Inc. "In today's constantly changing agricultural environment, producers need as many options as we can provide to help them react quickly and maintain profitability." Leasing is now available to producers either online through Powerfarm.com or through field representatives of Ag Services of America, Inc. Powerfarm.com offers an encryption-secured site so that producers can transact business safely and conveniently 24 hours a day. Growers can shop for products or sign up for additional services such as crop insurance, grain marketing programs, crop scouting and soil sampling services. "Powerfarm.com welcomes the collaboration with a leader in agricultural leasing," said Tad Mozena, Vice President of Marketing for Powerfarm.com. "Teaming with Leasexpress demonstrates our commitment to provide a one-stop power source for all farming needs -- now that includes a leasing option for vehicles, equipment and farm buildings." Powerfarm.com has one of the most comprehensive assortments of agricultural products, services and credit options available on the Internet: quality seed products produced and supported by Asgrow, Dekalb, Garst, Novartis, Stine and Wilson. Crop protection products are available from American Cyanamid, Bayer, Dow AgroSciences, Monsanto, Novartis, Valent USA and Zeneca. "Powerfarm.com is high tech and high touch and that is the real difference. Powerfarm.com has real people available for questions and consulting by phone or email," said Mozena. "It's not just another electronic, virtual dot-com store created out of thin air. Powerfarm.com is an extension of a successful business model developed to help growers be more efficient and profitable." The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements based on current expectations that involve a number of risks and uncertainties. The factors that could cause actual results to differ materially, include the following: general economic conditions within the agricultural industry; competitive factors and pricing pressures; changes in product mix; changes in the seasonality of demand patterns; changes in weather conditions; changes in agricultural regulations; unknown risks; the amount and availability under its asset backed securitization program; and the risks described from time to time in the Company's SEC reports. Powerfarm.com is a subsidiary of Ag Services of America, Inc. and has compiled the most comprehensive assortment of agriculture products, services and credit options available on the Internet today. Products currently available include seed, fertilizer and crop protection products, along with headline ag news, market quotes and weather. Growers can shop at their convenience day or night for products and sign up for additional services like crop insurance, grain marketing programs, crop scouting and soil sampling services. Within the Powerfarm Community, growers can post questions for the company's agronomists and Certified Crop Advisors, as well as communicate with other producers around the world to share ideas and discuss topics of concern. The Company continues discussions with additional suppliers serving the $250 Billion agriculture industry. Ag Services of America, Inc., based in Cedar Falls, Iowa, is a competitive supplier of input financing and agricultural inputs, including seed, chemicals, fertilizer and cash advances to primarily corn and soybean growers in the U.S. The Company's one-stop shopping business model includes competitive and flexible financing packages through its AgriFlex Credit(R) program combined with the most comprehensive offering of agricultural inputs from national sources such as American Cyanamid, Asgrow, Bayer, Dekalb, Dow AgroSciences, DuPont, Garst, Monsanto, Novartis, Pioneer Hi-Bred, and Zeneca. Ag Services finances AgriFlex Credit(R) with a $325 million securitization program that is structured and guaranteed by MBIA Insurance Corporation. The Company primarily protects its receivables by requiring multi-peril crop insurance, the first lien on the crop, assignment of all government payments and additional collateral (preferably land) if necessary. The Company also provides ancillary services such as crop insurance, crop scouting and grain marketing.
SOURCE Ag Services of America Inc. NetBank(R) Introduces Instant Funding for New Accounts ( you can also pay vendors by wire via NetBank ) NetBank Customers Are Banking Within 24 Hours of Approval Thanks to Web-Based Technology That Allows Account Funding by Credit Cards and Checks from Other Banks ATLANTA, Aug. 29 /PRNewswire/ -- NetBank(R), Member FDIC, Equal Housing Lender (Nasdaq: NTBK) (http://www.netbank.com) and the nation's leading Internet bank with more than $1.6 billion in assets, today announced that customers may fund new checking or money market accounts quickly and easily by moving funds online from an existing checking account at another financial institution or by using a Visa(R) or Mastercard(R) credit card or debit card. "NetBank is committed to innovation and customer service," said D.R. Grimes, NetBank's CEO. "Instant funding serves both of these goals. Now, our customers can begin banking within 24 hours of getting approval and no longer have to wait the few days it took for us to receive and process an initial deposit. So far, we've seen great response to this new feature and are already recognizing the benefits associated with booking deposits faster." Instant account funding at NetBank is secure and easy to use. Funds are transferred to a new NetBank account over a web-based application developed in collaboration with E Commerce Group, whose Speedpay(R) software, the basis for NetBank's system, is used by more than half the companies in the Fortune 500 for bill payment processing. Once a new account is opened, NetBank sends an e-mail message to the customer providing a link to an account status page. From there, the customer may fund the new account by completing and submitting a secure form. The customer either enters the relevant credit or debit card information or fills out a check-like form that serves as an electronic stand-in for one of the customer's actual checks from another financial institution. NetBank's instant funding service is currently available only one time per new account. Deposits can be made in any amount between $50 and $200. NetBank plans to roll out additional services using this technology over the next few months, including the funding of certificates of deposit. About NetBank(R) NETBANK, Inc, (Nasdaq: NTBK; http://www.netbank.com), is a financial services company whose sole subsidiary, NetBank, member FDIC, is the first profitable pure Internet bank in the country, having achieved profitability in the past nine consecutive quarters. With more than $1.6 billion in assets and customers in all 50 states and 20 foreign countries, NetBank was recently recognized as the best online bank by readers of Worth magazine in its annual "Readers' Choice Awards" survey and as a Money.com pick for "Best Online Banks." With its low-cost, branchless business model, NetBank is able to reward its customers with high interest rates on deposits with low- or no-fee banking services. Products and services include free online account access, free checking, free unlimited online bill payment and presentment, free unlimited ATM use, VISA(R) Check Card, VISA(R) credit cards, online brokerage services, mortgage lending, home equity lines and loans, insurance, IRAs, online safe deposit boxes, and business equipment leasing services. NetBank is a member of the AFFN, Cirrus, Honor/Star, and NYCE ATM Networks. For more information on NetBank, its products and services, visit the Web site at http://www.netbank.com, or call 1-888-BKONWEB (256-6932). "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding NetBank's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report or Form 10-K for the most recently ended fiscal year.
SOURCE NetBank -- While not related to Equipment Leasing, yet, Microsoft enters money fray. Online loan center launched by Microsoft Microsoft has launched MSN MoneyCentral Loan Center, a selection of financing services that it said lets consumers compare, review and select the home loan, automobile loan and credit card that best meet their individual needs. The new Loan Center -- available at moneycentral.msn.com/ -- features mortgage options from HomeAdvisor Technologies Inc. and provides consumers with access to automobile and credit card lenders on LendingTree Inc.'s online loan marketplace. www.leasingnews.org |