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| June 14, 2000 Kit, I agree with the comments about the sale of a leasing companies, as opposed to those "in trouble." I do think that you should include brokers having problems, as the impact of the nature of such problems could potentially lead our industry to government regulation,\ instead of self-regulation. One
additional comment, is that my experience has been that as the market tightens
& margins decrease, that fraud tends to increase. Those out there who have enjoyed
high margins and expected them to continue forever will be stretched in the future
to make ends meet. "Desperate people do desperate things," even the most honest
of people when backed deep enough into a corner will be prone to do what it takes
to get a deal done. R Rob
Yohe second e-mail from Rob: Feel free to quote me as long as you don't think it would misconstrued that I'm out to get anyone, unless they are dragging the leasing industry through the mud, such as not returning security deposits, selling fraud deals or getting reported to the BBB. As so feel free to edit my comments as you deem necessary. I honestly believe fraud will be on the increase over the next few months, based upon past cycles the industry has gone through. Plus with credit scoring combined all the companies willing to "fix" your personal credit, fraud will be easier to accomplish. While I do not claim to be an "expert" on fraud, I think you know my assessments are not without validity. RY ( I will amend The List and if anyone has a better name, such as company changes, the leasing list, let me know. About including lease brokers as "companies," I really don't know how to do this, especially without some real liability. Filling bankruptcy or NAELB or UAEL action I feel I can report...I will look further into solutions and I am definitely open for suggestions ). Great note from David Marks. We are also looking for salespeople. If there is anyone interested, please contact me. athorn@nowlease.com Andrew Thorn / Thalman Financial CapitalStream to Supply Business Finance Companies with Dun & Bradstreet Credit Information Integrated Credit Management Services Further Increase Value of CapitalStream.com\ Full story below--- ***1 Oh, No!!! American Express Joins Hands with CompanyFinance....We independents are in for more and tougher competition. Fully story****2 I am extremely proud to announce my daughter Ashley, who lives in Lamoille, Nevada with her husband Len and two sons, Clay and Jedrek, this morning at 9:17am at Humbolt County Hospital in Elko, Nevada, gave birth to a third son: Daegen ( middle name not chosen ) 8 pounds, 12 ounces, 22 inches long. Mother and son will leave the hospital tomorrow morning as everything went fine and they keep them there twenty-four hours. I asked my son-in-law if he was intending to build a baseball team. He told me, no, basketball. Kit Menkin Story # 1 SEATTLE - June 14, 2000 - Capital Stream, Inc., an e-commerce provider of services and applications for the business finance industry, recently announced that it will apply many of Dun & Bradstreet's products and services to the company's web-based business finance transaction network and application. Partnerships with industry leaders such as Dun & Bradstreet enable CapitalStream to provide best of breed capabilities via its CapitalStream.com network. CapitalStream.com's subscribers, who are financing companies, brokers, and other businesses that supply or need equipment capital, will have the ability to obtain instant D&B credit and business information reports in a streamlined, integrated process. This announcement, which is an extension of an existing agreement with D&B, brings more credit risk management capabilities to the CapitalStream.com network, making the entire equipment financing process seamless for both the supply and demand sides of the Finance Supply Chain. "Our customers have asked for the ability to integrate D&B products and services into CapitalStream.com," said Stephen Campbell, president and CEO of CapitalStream. "Adding D&B products and services addresses these needs and will accelerate and simplify the risk portion of the financing process to make our customer's lives easier." Customers can request more than 20 different Dun & Bradstreet reports through CapitalStream.com. These include business information, financial stress, business background, payment analysis, credit check, comprehensive, and credit scoring. By providing this essential information via the CapitalStream.com website, subscribers can avoid errors and save time in the information-gathering process. CapitalStream.com will also integrate key data elements from Dun & Bradstreet to use during the credit evaluation process. This capability will enable CapitalStream.com's customers to obtain automated credit decisions. In addition to the new D&B product and service offerings, CapitalStream.com offers a transaction network and workflow automation tools. With CapitalStream.com, funding sources can create personalized lending programs with application forms and rate sheets. Lease originators have access to application status online, a quote calculator, and the ability to easily submit applications online. Together, these capabilities enable financing companies to better capture, grow and service their customers. About CapitalStream Seattle-based CapitalStream offers end-to-end e-commerce marketplace solutions-including customer management tools, workflow 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 570 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. Story #2 companyfinance.com Announces Joint Venture Agreement with American Express Business Development Analysts Group FREDERICKSBURG, Va. and BURLINGAME, Calif.--(BUSINESS WIRE)--June 14, 2000--companyfinance.com, the premier Internet B2B financial enabler for small- and middle-market companies, and American Express-Business Development Analysts Group (BDA), an American Express subsidiary dedicated to assisting small businesses secure capital, today announced an alliance that will supply a range of financial products and services to each company's respective small business clientele. The agreement allows American Express-BDA clients to access companyfinance.com's Intelligent Lending Network(tm) with more than 125 member-lending institutions. companyfinance.com's small business clients will receive access to a wide range of business development expertise and consulting services provided by American Express-BDA. "BDA has helped fund nearly a thousand businesses by introducing clients to a broad range of both conventional and government SBA-backed lending programs. Their unique expertise and ability to secure financing opportunities for customers who aren't able to qualify on an automated basis will broaden the size of businesses companyfinance.com is able to serve," stated Jon Orban, companyfinance.com's CEO/Founder. "In addition, companyfinance.com customers will have access to one of the nation's leading business advisory teams. Our clients will benefit by being eligible to receive one-on-one business counseling as part of their loan application process," Orban added. Joseph Amato, Managing Director of American Express-BDA, said, "We believe that companyfinance.com has a compelling model for improving the way that businesses, banks and other commercial lenders do business together. We are all in the business of helping entrepreneurs to succeed. We anticipate that companyfinance.com will provide our group with another valuable marketing channel. We've already had great success with other less sophisticated players in the Internet-space and it is clear to us that companyfinance.com's superior technology and relationships promise to provide us with an even greater volume of the type of businesses that fit our specific borrower profile." companyfinance.com's Intelligent Lending Network(tm) with more than 125-member lending institutions provides an array of structured, debt-based financing options including: asset-based lending, cash flow-based financing, equipment leasing and factoring. companyfinance.com's proprietary capital matching and routing technology uses analytics and information aggregation to enable applicants to qualify for commercial business loans of up to $100 million in a fraction of the time it would take to seek the same financing via traditional channels. The American Express-BDA group, with offices in cities throughout the Eastern Seaboard, offers consulting services to a variety of small- to mid-sized businesses. American Express-BDA helps companies seek out financing, develop business plans and achieve strategic objectives for growth. Forrester Research estimates that by 2003 $167 billion in loans will be transacted online - an increase of more than 10 times the amount transacted online in 1999. By creating this alliance, companyfinance.com and American Express-BDA will have access to a greater number of qualified business customers and increase the group's ability to streamline the business owner's search for loans at favorable lending rates. About companyfinance.com Headquartered in Burlingame, CA, companyfinance.com is an internet-based, B2B financial enabler. The company uses its proprietary analytics and information aggregation technology to power the Intelligent Lending Network(tm), matching middle-market borrowers with more than 125 leading lending institutions. Combined with their process and decision automation systems, companyfinance.com is able to eliminate many of the inefficiencies of the traditional financing process, facilitating middle-market companies access to "Business Capital at Internet Speed(tm)." For more information, visit the www.companyfinance.com website or contact Stephanie Burchfield at 480.460.4111. About American Express-Business Development Analysts Group The American Express-Business Development Analysts Group (BDA) is part of the American Express Tax and Business Services Division. American Express-BDA provides business-consulting services to companies ranging from start-up ventures to established companies seeking capital for expansion or acquisition purposes. American Express-BDA provides access to nearly 300 sources of traditional and SBA-guaranteed financing ranging from $250,000 to $5 million. American Express-BDA assists in the production of comprehensive financial information packages and provides consulting services for the entire lending cycle, through closing to its clients. As of April 2000, American Express-BDA financing projects have a 90% closing rate and less than a five-percent default record. For more information on American Express-BDA, contact Eric Kirn at 800.710.6762 or via email bda4u@hotmail.com. CONTACT:
companyfinance.com (media
relations) KEYWORD: CALIFORNIA VIRGINIA |
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