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| July 5, 2000
From: "Mark Speros (BSB)" msperos@unicapitalcorp.com Wed,
5 Jul 2000 12:58:18 -0700 Kit,
the following is OFF THE RECORD. If you are going to publish a list, it should
be accurate, and this latest version is not accurate. For example, it is, again,
listing C&W Leasing as being bankrupt rather than acquired by Granite who was
acquired by Fidelity National Title. T&W is listed as "lost their funding", when
in fact they are bankrupt and have been delisted. I suggest you delete ALL prior
lists and start from scratch. Love
& Kisses, Mark
Speros -----Original Message-----
From: kitm@americanleasing.com VGM
Alive & Well www.vgm.com Kit-- I'm the President of VGM Financial Services out of Waterloo, IA. We are quite alive and in a fast growth mode leasing company. I'm not sure where you received your information, but I thought I'd drop you a note a point out the error. I know there have been many problems, as well as successes in the industry lately, I'm just making sure our name appears on the correct list. If you'd like to discuss the list or it's origin, please feel free to contact me at 1-319- 274-6642. That's my direct line. If you'd like to learn more about VGM, check us out at vgm.com. Sincerely,
(
I think the VGM was another company, and was the only one I could not confirm,
that was on the list. To clear up any confusion, the list is up-dated and now
it looks in order,too. Jim Phillips is added to our mailing list and he will keep us up to date with things growing in his company. 32 Leasing Companies Major Changes in the last Six Months: American
Business Leasing ( gone ) any comments, corrections, additions, or suggestions are greatly appreciated - Allan Fern Speaks Out Thank you for including me on your daily e-mails. I wanted to wait a couple weeks before commenting. This is my 22nd year in the leasing industry and I have seen many changes. I must confess that I am a little taken back by the amount of negative press our industry is receiving. Yes,
funding sources are going out of business, and yes, sources are reevaluating their
game plans, but this is all positive. Our industry cleanses itself every 7-10
years. Think back to the funding sources that some of you did business with in
1991. Some are out of business. Some are partnering with the broker and lessor
community to help maximize profits. As a Vice President of a new aggressive funding source, we try and accent the positive events of leasing. A broker still has the ability to process A paper through D paper. Application only programs are easily available including our hard asset to $100,000 at 10.75%. I have always thought it was a privilege being in our industry. The friendships and business acquaintances that I have managed to cultivate have been with me for over 15 years. Let's stop complaining and move forward with what we do best. Generate leads and fund. Alan
Fern Textron Financial Uses CapitalStream to Support B2B Financing On the Internet full story ****1 below - Along with United Association of Equipment Lessors ("UAEL") and the National Association of Equipment Lease Brokers ("NAELB"), EAEL is supporting the establishment of a not-for-profit corporation to be known as the CLP Foundation (the "Foundation"). full story ****2 below *******1 SEATTLE, July 5, 2000 - Capital Stream, Inc., a provider of e-commerce services for the commercial finance industry, announced today that Textron Financial Corporation, a diversified commercial finance company with over $7 billion in managed receivables, is using CapitalStream.com to make its commercial finance services available through the Internet. Textron Financial turned to CapitalStream for an Internet-based infrastructure that offered the management tools, credit screening and links to its existing systems without incurring additional overhead or processing time. Textron Financial's objective is to move the majority of its customers' requests for equipment financing seamlessly through CapitalStream.com as an extension of its loan and lease processing systems. In addition to improving Textron Financial's credit screening process, CapitalStream's services will help the company link Textron Financial's proprietary account management system with its back-office accounting systems. "With the help of CapitalStream.com, our financing partners can use an Internet-based application process to expand our services to more customers and improve the ease of doing business with Textron Financial," said Jim Merrilees, Vice President and Division Manager at Textron Financial. "This partnership enables us to offer our vendor financing programs in a quick, cost effective way, without having to spend the time, money and maintenance on developing our own infrastructure." "Our work with Textron Financial is a testament to the CapitalStream.com business model," said Steven Campbell, president and CEO of CapitalStream, "which was designed to bring financial systems online with minimum time and expense." CapitalStream.com provides Internet-ready applications to funding sources, brokers, vendors, manufacturers and B2B portals, enabling them to offer flexible financing programs, improve customer service, and increase their competitiveness. Rates, terms, and content can be dynamically managed by finance companies, allowing them to go online with personalized credit programs that respond to the wide range of relationships they have with customers. Using CapitalStream's "virtual private market" solution, Textron Financial can apply its own branding to the credit origination process within its Internet sites. Throughout the transaction process, CapitalStream.com will offer Textron Financial comprehensive reporting, including application status by program and approval ratio summaries. About Textron Financial Textron Financial Corporation, a subsidiary of Textron Inc., is a diversified commercial finance company with over $7 billion in managed receivables. With operations in term lending and leasing, revolving credit, and specialty finance, Textron Financial is a premier lender to the aviation, golf, vacation interval resort, and franchise finance industries, and provides distribution and end-user financing for products manufactured by Textron Inc. and others. Other services include transaction syndication, equipment appraisal and disposition, portfolio servicing, and insurance brokerage. Additional information is available at www.tfc.textron.com. About CapitalStream Seattle-based CapitalStream offers end-to-end e-commerce marketplace solutions-including customer management tools, work flow automation and an online transaction network-for the global business finance market. The company's e-commerce network, CapitalStream.com, provides an infrastructure for financing companies, manufacturers and B2B e-commerce firms to capture, grow and service customers. CapitalStream has been an established industry leader for five years, and in 1999, its 600 customers used CapitalStream products to facilitate $8.5 billion in transaction volume. For additional information about CapitalStream visit its web site at www.CapitalStream.com. ###
Eastern Association of Equipment Lessors EAEL Announces Endorsement of CLP Program For
Immediate Release Contact:
Steven Geller, CLP, Vice President, Eastern Association of Equipment Lessors Bruce
Winter, CLP, Treasurer, Eastern Association of Equipment Lessors (New York) -The Board of Directors of the Eastern Association of Equipment Lessors is pleased to announce its endorsement of the Certified Lease Professional ("CLP") program.
The CLP designation sets the standard for professionalism in the leasing industry.
This designation is designed to identify and recognize those individuals within
the leasing industry who have demonstrated, through testing and conduct, their
competency in leasing. The letters "CLP" behind their name represents a visible
recognition of this professional achievement and status. Along with United Association
of Equipment Lessors ("UAEL") and the National Association of Equipment Lease
Brokers ("NAELB"), EAEL is supporting the establishment of a not-for-profit corporation
to be known as the CLP Foundation (the "Foundation"). Testing dates and sites are to be arranged by the Foundation at mutually convenient times and sites. To foster industry competency and preparation for sitting for the CLP examination, optional educational programs are being offered throughout the industry. In conjunction with EAEL's Fall Expo to be held at the Sheraton Meadowlands Hotel in Secaucus, New Jersey, a CLP examination is scheduled for Tuesday, September 26, 2000. Additionally, Mr. Bob Baker will be offering an in-depth educational program at the Sheraton on Saturday and Sunday September 23 and 24, geared towards individuals who plan to take the CLP exam. Mr. Baker is President of Wildwood Financial Group, a well-known and respected lease education firm based in Missouri. Topics to be discussed include history of leasing, lease classification and terminology, lease law and documentation, public finance, financial and tax accounting for leases, credit and financial analysis, rates and yields, collections and marketing and sales. The cost of the optional educational program is $600, which includes the Handbook for Leasing Professionals and two full days of instruction provided by Mr. Baker in preparation for the CLP examination to be administered on Tuesday, September 26. The cost of the CLP examination is $500. In order to provide adequate small group instruction, the class will be limited to the first 20 individuals who sign up. While the classroom instruction is geared towards taking the CLP examination, those individuals wishing to receive extensive lease training may register for Mr. Baker's educational program without sitting for the CLP examination. Conversely, anyone wishing to sit for the CLP examination without completing the optional educational program may do so long as he/she meets the eligibility requirements as described above. If you or anyone in your organization is interested in registering for the optional training program, kindly complete the attached application and forward payment of $600, no later than July 31, 2000, payable to the Eastern Association of Equipment Lessors, for the professional training to EAEL, 600 Mamaroneck Avenue, Harrison, New York 10528. If you wish to forgo the training and sit for the exam, please forward the application for the examination to EAEL headquarters by the end of July, as well. Payment for the examination of $500 is required no later than September 1, 2000 and should be forwarded to EAEL, along with a photocopy of the previously submitted application. ENROLLMENT FORM Part
I. General Information Date: ________________ Name: ________________________ Title:
________________ Part II. Leasing Experience (attach additional job information/resume, if necessary) Company: __________________ Phone: ________________ Employment Dates: __________ Company: __________________ Phone: ________________ Employment Dates: __________ Company: __________________ Phone: ________________ Employment Dates: __________ Part
III. Industry Affiliations Part
IV. Ethics/Standards (to be completed by CLP applicants only) Have
you ever been sanctioned by a leasing trade, finance, real estate, insurance,
securities, mortgage brokering association for conduct or business practice? Are
you or your company now the subject of any action before a standards/ethics committee
of a leasing trade, finance, real estate, insurance, securities or mortgage brokerage
association? Have
you or your company ever had a license to do business revoked, for cause, by a
governmental entity, including licenses for real estate, insurance, securities,
mortgage brokerage or the like? Are
you or your company now the subject of any investigation by a governmental agency
that could result in the revocation of a license to do business? Please
provide the complete details on a separate letter on any yes answer. I agree to abide by the ethical standards of the leasing industry, and to endorse the provisions of the leasing association of which I am a member. My
signature also confirms that the information provided on this enrollment form
is true and accurate. Applicant's signature Approved by CLP Foundation Part V. Payment and Fees (payment for the training due no later than 7/31/00) Bob Baker Professional Training 9/23 and 9/24/00 $600 CLP Examination 9/26/00 $500 Total $1,100 Check enclosed for: $___________. Visa/Mastercard
#___________________________ Exp. Date _____________ (Return to EAEL, 600 Mamaroneck Ave., Ste. 440, Harrison, NY 10528 no later than 7/31/00) BULLETIN BOARD ( These are postings for informational purposes. Any response, correction, addition, will be posted. We reserve the right to edit or delete any opinion that is not in good taste or is outright derogatory ). Source states Universal Capital Services, Springhill, Florida, took up-front fees on deal and has not returned to lessee. Lessee is complaining to funding source. This is the third complaint received on this. Source is trying to find out more and request this be posted on bulletin board. Source will allow us to state name, if this is not resolved. 7/5 $25,000 SD $29,000 first and last Three months did not return money Parker Leasing and Financing, Ft. Lauderdale, Florida no web site, no district attorney complaints, Parker Leasing and Financing refuses to return commitment fee and first and last. 6/16 We had been using the Dodson Group for overnight (Airborne) until recently. They were charging us $8.75 per overnight (there cost to Airborne is $7.61, who cares, they deserve a profit). But, in auditing our bills for the last 2 years we kept noticing that we were being repeatedly charged $12.00 to $18.75 for overnight on about 1/3 to 1/2 of the over nights. Initially, Dodson claimed "overweight", so we researched further and discovered that most of the overcharges were on checks going out overnight to vendors and brokers - no way this could be "overweight". For the past year we have faxed and called Dodson repeatedly to get corrected invoices - no one would even respond! So, we put them on notice that we would not pay any more invoices until they corrected their over billing problem - they never did. Their response was to turn us over to a collection agency! We are convinced they purposely overcharged us, and probably every other client! Dodson does a lot of biz with NAELB brokers, don't these brokers need to know about Dodson's policy of quoting one price and charging another? 6/15 Avoid this company like the plague. I believe that if it is the same one they also run companies under the name(s) Universal Manufacturing - (Vendor) & Universal Finance (Credit repair company). I'll look up the e-mail I received on this a while back. I think what the story was is that Universal Capital, Florida, would submit a deal to funding source, then if declined due to personal credit, Universal Finance would repair credit then resubmit elsewhere. The vendor would be Universal Manufacturing who would sell $2,000 computers for $40,000 invoice (just under F/S disclosure). Then they split excess with lessee. 6/12 Do you know anything about Univerasl Capital Services, Inc., In Spring Hill, Florida 34606. One of the lease brokers I work with is having trouble getting paid on a deal. He thinks the company is owned by Jim and Anita Koper. Please let me know if you hear anything. Thanks.
Metropolitan Mortgage and Sec in Washington had a division that funded the lesser credits. Well they have stopped and are not honoring their approvals if they don't already have signed docs. This was told to me by a broker in Arizona who has 10 deals sitting with them and she is now scrambling to replace them. 6/12
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