Kit Menkin’s Leasing News  www.leasingnews.org  Wednesday, January 30, 2002

 

Headlines----

 

  On Line Poll  http://www.leasingnews.org

                        Arrow Capital Continues Expansion/Acquires Marquis Capital

                            Interchange Fin. Services Completes Purchase Monarch Capital

                                  Leasing News Classified Ads Work

                                         Now 223 Certified Leasing Professionals

 

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                        On Line Poll  http://www.leasingnews.org

 

From time to time, Leasing News will be conducting a poll on line.  The one

today is what is the best day and time for “Meet the Leasing News Maker.”

Perhaps 1pm, Thursday, PDT, is not the best time. Please let us know

your choice.

 

We have temporarily replaced the Virus Warning ( “My Party” ) is the one

making the rounds now---growing in popularity ( simply don’t download

anything until you specifically check with the sender; and if you don’t know

the sender, don’t download.

 

This virus has been sent to several leasing companies.  It is very dangerous.

 

It says, “ Hello

 

“My party...It was absolutely amazing! 

“I have attached my web page with new photos!

“If you can please make color prints of my photos. Thanks”

 

Don’t Open it.

 

Please give us your feed back on the best time for “Meet the Leasing News Maker”

 

http://www.leasingnews.org

 

 

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Arrow Capital Continues Expansion With Acquisition of Marquis Capital

 

 

New Acquisition Further Diversifies and Strengthens Company's Market Reach 

 

SAN JOSE, Calif., / -- Financial services company Arrow Capital Corporation announced today that it has acquired Marquis Capital, an equipment leasing broker specializing in small-ticket vendor leasing programs for automotive repair equipment and computer hardware and software packages for small businesses. In addition to acquiring most of the assets and assuming some of the liabilities of Marquis Capital, Arrow will retain all Marquis personnel, which will maintain continuity of their business flow.

 

At the same time, Arrow announced that Stanley F. Marquis, formerly president of Marquis Capital, will assume the role of vice president of finance and chief financial officer for Arrow. Marquis will be responsible for activities such as fund raising, credit management and financial management.

 

Marquis Capital funds vendor transactions ranging in value from $2,500 to $75,000, which are considered "small-ticket" leases, whereas Arrow focuses on mid-market vendor financing programs. "Arrow and Marquis serve completely different markets but both companies have a strong vendor focus, making this acquisition a complementary fit that will increase Arrow's capabilities," said Steve Trollope, CEO of Arrow Capital. "It will also give existing customers of Marquis Capital access to additional financing options and will make small-ticket financing accessible to Arrow's vendor partners," added Stan Marquis.

 

Stan Marquis has more than 30 years' experience in the equipment leasing industry and was founder and president of both Triad Systems Financial Corporation and Marquis Capital. He is a former director of the Equipment Leasing Association and has a BS degree in Accounting and is a Certified Public Accountant.

 

About Arrow Capital  

 

Founded in 1988, Arrow Capital is a financial services company that creates innovative, customized equipment leasing programs that enable its customers to increase revenue, maximize profitability and grow market share. Arrow sets itself apart with its financial program flexibility, broad funding capabilities, long-term company stability and deep industry experience. Arrow has headquarters in San Jose, Calif. and sales offices in several other California locations and the East Coast.

 

Arrow Capital can be contacted at 6910 Santa Teresa Blvd., 2nd Floor, San Jose, Calif., 95119-1339; phone 408-961-8900; fax 408-961-8957; info@arrowcapital.net.

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Interchange Financial Services Corporation Completes the Purchase of Substantially All of the Assets and Liabilities of Monarch Capital Corporation

 

 

SADDLE BROOK, N.J.--( --Anthony S. Abbate, President and Chief Executive Officer of Interchange Financial Services Corporation ("Company") (NASDAQ: IFCJ), whose principal subsidiary is Interchange Bank ("Bank"), announced today that on January 16, 2002, the Company acquired certain assets and assumed certain liabilities of Monarch Capital Corporation ("Monarch"), pursuant to an Asset Purchase Agreement dated December 17, 2001, among the Company, Monarch and James Jenco, Monarch's sole shareholder.

 

Monarch is a leasing and financing company located in West Caldwell, New Jersey that was formed in 1986 by Mr. Jenco. Mr. Jenco and members of his staff have joined Interchange Capital Company, L.L.C. ("ICC"), the Bank's equipment lease financing subsidiary. "We welcome Mr. Jenco and his staff to the Interchange family and together we expect to more rapidly achieve the strategic objectives of our leasing unit", said Mr. Abbate.

 

In this asset purchase transaction, the Company acquired certain loans and leases valued at approximately $13.7 million. In addition, the Company assumed certain liabilities (borrowings) of Monarch, valued at approximately $13.2 million, which had been used to fund the loans and leases. The purchase price is payable partly in cash and partly in shares of IFCJ stock, subject to certain adjustments. The Company intends to use the acquired leases as part of its leasing business and to pay-off the assumed liabilities. Subsequent to the transaction Monarch ceased operations except for the collection of certain loans and leases not acquired by the Company.

 

The Company is an $830 million-asset commercial bank holding company, whose principal subsidiary is Interchange Bank. The Company is a financial intermediary that, along with traditional banking, offers a broad range of services including 24-hour, 7-day-a-week online banking and bill paying services through InterBank. Customers can also do their stock trading, obtain insurance services and apply for a loan through the Bank's web site. Mutual Funds and Annuities are offered through the Company's Investment Services Program. The Interchange Bank-Line Call Center enables customers to open new accounts over the telephone; and customers can do basic banking transactions over the telephone with Interchange Bank-Line. The Business Class Banking Account offers checking with a variety of extra services including Interbanking - a proprietary product, which allows the business customer to do routine business banking right from their office PC. And through our subsidiary, Interchange Capital Company, L.L.C., we are able to extend cost-effective equipment leasing solutions for a variety of expansion and upgrading projects.

 

The Bank is headquartered in Saddle Brook, New Jersey and has 18 branch offices located in Elmwood Park, Franklin Lakes, Garfield, Hackensack, Hillsdale, Little Ferry, Lodi, Montvale, Oakland, Paramus, Park Ridge, Ramsey, River Edge, Rochelle Park, Saddle Brook (2), Waldwick and Washington Township.

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Leasing News Classified Ads Work

 

 

This morning I accepted a position that I am very excited about as it meets my criteria for now and in the future.

 

My job searching had not been effective until I put an "ad" in your publication.  since then I received 3 to 5 inquiries per week and the company I joined would never have found me, nor would I have found them were it not for your leasing journal's assistance.

 

I would like to remove my ad, but do not know how to.  It appears with the address rcs60@worldnet.att.net  and is for a marketing position in the NYC area.

 

Again, thank you for your assistance in this important matter.

 

sincerely,

 

Bob Stevenson

 

 

Eight Today in “Job Wanted”

 

Credit: Hayward, CA.
Versatile/ creative senior financial executive w/extensive experience in varied areas of the commercial lending environment. Strong written/ oral skills with a results-oriented team-player attitude. Email: daveschultz9@aol.com

Funding: Northern, NJ
Coordinate all aspects of financing for leased equipment, prepare necessary documentation for discounting with banks. Handle renewals of and amendments to lease schedules. Email:istaub@unicapitalcorp.com

Legal: Chatsworth, CA
Managing attorney for general corporate and financial services law including: leasing, acquisitions, service agreements, commercial loans, securitizations, workouts and litigation. Email:SandiDQ@msn.com

Operations: Austin, TX
5 years experience in leasing including processing credits, reviewing and funding transactions and performing quality control. Looking for a new challenge and opportunity. Email:neseafort@aol.com

Sales: Silicon Valley, CA
VP level Business Development and Sales Manager, well connected in Silicon Valley. Experienced in major vendor programs on a global basis. Email: Tadadzn@ix.netcom.com

Sales: Mission Viejo, CA
Account Sales Executive with 10 years of leasing experience looking for company to bring existing customer base.
Email:makelly21@hotmail.com

Sales Manager: Atlanta, GA
15 years experience in Small Ticket Vendor Leasing. Managed sales team for eight years in Copiers, Telecom, IT, Construction, Auto Aftermarket, etc. Email:jim_acee@hotmail.com

Senior Management: Hicksville, NY
Senior equipment leasing and banking executive with credit, collections, marketing and operations experience. Background includes development of new business, risk management and budgeting. Email:FrdA4@aol.com

 

 

 

42 Help Wanted Ads

 

http://65.209.205.32/LeasingNews/JobPostingsWanted.htm

 

We are told that these ads get results.  From all over the country,

as many repeat.  We don't charge for this, and our only requirement

since January 1, 2002, is the leasing company be a leasing association member---this helps to insure the standard code of ethics.

 

7 Outsourcing Ads

 

http://65.209.205.32/LeasingNews/JobPostingsOutsourcing.htm

 

2 Attorney

 

California - statewide: CA     "ELA"
5-attorney creditors rights law firm, in biz 25 yrs +, specialize all aspects of creditor representation. Primarily represent equipment lessors & funders, plus collection and creditor rep. in bankruptcy. Email:phemar@hemar.com

NY Metro and National: Hackensack, NY
Attorney specializing in equipment lease matters for at least 10 years with a 50-State operating network of attorneys experienced in leasing matters. Email:wuscher@uqur.com     "ELA

 

 

Other e-Mail Sites to post a job wanted ad:

 

http://65.209.205.32/LeasingNews/Classified.htm

 

Two Recruiters Listed On Line

 

http://65.209.205.32/LeasingNews/Recruiters.htm

 

 

Leasing News receives e-mail from leasing applicants, lessees, and vendors who have

“problems” . They want to know where to go, or want to post a complaint.  Many of

them are settled as we act as an ombudsman.  Not that many make the “Bulletin Board”

for many reasons.  A good portion are “civil disputes” and the parties may be looking

for legal advice.

 

While there is LEAN, a national organization of "lawyers," and others are on line, the Leasing News list requires the attorney be a member of a leasing association. This insures that a standard of code and ethics is known, and more importantly, their experience is specifically with the leasing industry; many are specialists.

 

There is no charge or fee for this.  You can't buy a listing or posting or

place an ad.  The purpose is not to help attorneys find work, but people

who need an attorney who specializes in our industry identify one.

 

Now 223 Certified Leasing Professionals

Certified Leasing Professional Foundation
www.clpfoundation.org

Cindy Spurdle

Executive Director

Phone:  1-610-687-0213

Fax:  1-610-687-4111

Email:  cindy@clpfoundation.org

 

The certification program was started by a group a leasing professionals who

were members of Western Association of Equipment Leasing, now the United

Association of Equipment Leasing (UAEL). The program grew to the point

UAEL relinquished all rights to the program and the CLP Foundation was established

as a non-profit corporation.  The Eastern  Association of Equipment Lessors, National Association of Equipment Leasing Brokers, and UAEL now lend their support to the Foundation and the

CLP Program.

 

There are currently 223 Certified Lease Professionals (CLP's); 221 are still active

in the leasing industry.

 

The CLP is recognized in our industry as an individual with high ethical

standards who has been tested and passed an exam covering every important

aspect of our industry.

 

There are several good books to help you with your review in preparation for

the exam.  One of these is the Leasing Professionals' Handbook, which was

written by a group of CLP's.  Each chapter is followed by a group of

questions that quiz you on the materials you have just read and also

questions on related topics not necessarily covered in the chapter.  The

handbook is $54.50 including shipping.  The second book is brand new.  It is

entitled Power Tools for Successful Leasing.  This book was written by Barry

Marks, Esq. and James Johnson, Ph.D. This book is $84.50, including

shipping.  You should also be proficient with either the 17B or 19B

calculators to comfortably complete the problem solving section.

 

If you are interested in either book, please let me know and I'll fax you an

invoice.

 

You also may want to take advantage of our new Mentor Program designed for

prospective CLP's who would like assistance in a few areas to prepare for

the exam.  This is explained more fully on our web site --

www.clpfoundation.org.

 

 You will also find on our site the Body of Knowledge which covers every

topic that will be included in the exam. It too is an excellent review

tool.

 

Please give me a call or E-mail me if you have any further questions.

 

Thank you once again for your interest in the CLP Program.

 

Cindy

 

Cindy Spurdle, Executive Director

CLP Foundation

PH: 610/687-0213

FAX: 610/687-4111

Email: cindy@clpfoundation.org

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