|
|
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 ### denotes press release 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 _______________________________________________________________________ ### ################################ ############################# 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.
### ####################################### ###################### 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. ### ########################## ################################### ##### 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”
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
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 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 --
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 www.leasingnews.org
|