Headlines:

 

         Code of Ethics Survey

          United Capital-Spectrum

           UPS Cites Business Slow down

            "Going to Kansas City"

              UAEL Spring Conference "On Line"

                BankNorth Launches On Line Banking in Six States

                  eFinance to Provide NEC With Online Credit Decisioning On Line

 

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         Code of Ethics

 

  Leasing News asked all the non-profit associations how many members were

  expelled in the last twelve months for not following the association

  standards and ethics, or code of ethics. Response to date:

 

  Eastern Association of Equipment Lessors:  two

  Equipment Leasing Association: none

  United Association of Equipment Leasing: none

 

________________________________________________________________

 

    United Capital - Spectrum Leasing Connection

 

 

Hey Kit,

 

I just spoke to a client that has been religiously (every 2 weeks) receiving

calls from Spectrum regarding an outstanding 45K approval.  The funny thing

is that he has never heard of nor ever submitted an application to Spectrum.

They are telling him that they are ready to move on the video equipment that

he needs.  The 45K approval in question just so happens to be the same

amount that C2 submitted to United and doc'd (off their approval) back in

November.  After United backed out of their approval, we submitted and

funded the transaction with another lender. Yet, Spectrum is still calling!!

 

But there is more to this one.... We had another deal that was approved and

doc'd with United that they again backed out of.  The Lessee, citing that we

were taking too long, asked for their up fronts back and the deal canceled

because they had found another lender.  Today I found out that the other

lender was Spectrum.  Coincidence?  I think not.

 

I hope that Steve Dallas and his group are banned from

Leasing.  To think that we actually tried to work with and help them through

their time of need.  Talk about pouring salt in an open wound!

 

Thanks for the Newsletter!!!

 

Kevin Pane

C2 Capital Corp.

310-288-1700, ext. 233

kpane@c2capital.com

 

 

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   UPS Sounds Profit Warning as Business Slows

 

 

Thursday, March 22, 2001

ATLANTA -- United Parcel Service Inc. warned that earnings for the first and
second quarters will fall short of analysts' expectations, mainly because of the
weakening economy.

While international export package volume has grown at more than 15% this
quarter, domestic volume growth slowed during the last two months to about
1%, UPS (UPS) said Thursday.

Harsh winter weather, the weakness in the value of the euro, softening cargo
revenue and high utility costs also hurt earnings, the company said.

For the first quarter, UPS expects to report earnings of 49 cents to 51 cents
a share, down from earnings of 56 cents a share in the year-earlier period
and below the 57 cents a share forecast by analysts surveyed by Thomson
Financial/ First Call.

Assuming current economic conditions continue, UPS expects to earn 55
cents to 60 cents a share in the second quarter, compared with 60 cents
a share a year earlier and lower than analysts' estimates for earnings of 64
cents a share.

Nevertheless, even in a slowing economy, UPS said it expects modest increases
in domestic volume and revenue per piece, adding that its logistics and
international business have continued to show strong growth.

'While we are carefully managing our costs, we will continue to expand our
capabilities to design and execute global supply chain solutions for our
customers,' Scott Davis, chief financial officer, said in a written statement.

The warning by UPS follows FedEx Corp.'s report Wednesday that fiscal third-
quarter net income fell 3.5%. The overnight delivery company also warned that
fourth-quarter profit will be at the low end of expectations. FedEx (FDX) said
shipments dropped noticeably in February.

 

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  "Going to Kansas City"

 

Hi Kit:

 

In the item about the UAEL Funding Retreat in Kansas City, there is a line

(probably from UAEL's PR people?) that says "Make appointments with dozens

of funding sources and suppliers who will meet your needs for 2001."

 

This appears directly below the list of "Funders/Service Providers"

scheduled to appear.  There are exactly nine names on that list.

 

Now I'm neither a mathmatician nor a grammarian, but "9" doesn't equate to

"dozens" in my book.

 

Perhaps UAEL could clarify this for me.

 

Ken Goodman

kgoodman@leasegood.com

 

    ( Sorry, I just quoted an e-mail from Joan Dalton. I also note now

      that CapitalStream is mentioned, adn they are a service company,

      not a funder, to my knowledge. And Equipment Lessor Protection

      Association is also a service. editor )

 

Amembal Capital Corporation

Bancorp Financial Services, Inc.

CapitalStream

Commercial Money Center, Inc. (CMC)

Creative Capital Leasing Group, LLC

Equipment Lessors Protection Association

Financial Pacific Leasing, LLC

Leverage Leasing Company

The Manifest Group

 

               +              +                +

 

Kit

 

Confirmed with Bancorp Financial they will not be at the show in Kansas city.

Per Trish Hamilton at Bancorp in Sacramento,CA.

 

Sean Wheeler

1 Lease

BROKERS@1LEASE.NET

 

  ( Oh-oh, that makes it six funders. Maybe the copy was to read a "half-dozen funders."

    And they are all top noted companies, and any excuse to network and talk to

    a funder or colleague, if you are in the Kansas City area, you should attend

   the funding symposium, just to stay in contact.  Nothing beats "eyeball-to-eyeball."

 

Hilton Kansas City Airport

8801 NW. 112th Street

Kansas City, MO  64153

Phone: 816-891-8900

 

For registration and information on any meetings,

please contact Melanie at the UAEL office:

(510) 444-9235 x23

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   Spring Conference On Line

 

The United Association of Equipment Leasing Scottsdale Conference is on line

: http://www.leasingnews.org/archives/March01/3-16-01a.htm

 

  the full Spring Education Conference "SEC" brochure filled with

hours of education and networking opportunities for brokers, lessors,

funding sources and service providers alike. 

 

Remember, "It's All About Success" - Involvement, Networking and Education.

 

Rooms are filling up quickly so make your hotel reservations now.  Call the

Doubletree Paradise Valley Resort at(480) 947-5400 and don't forget to ask

for the UAEL group rate!

 

Visit www.uael.org to register online! Or go to:

http://www.leasingnews.org/archives/March01/3-16-01a.htm

 

Stay tuned for the latest edition of Newsline Online, coming soon!

 

See you in Scottsdale!

Joanie Dalton - Managing Director

UAEL - United Association of Equipment Leasing

520 Third Street, #201

Oakland, CA  94607

(510) 444-9235 x27 or (510) 444-1346 fax

joanie@uael.org

www.uael.org

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Banknorth Group Launches Online Banking in Six States for Its Eight Banking
Affiliates; Strong 'eCare' Customer Service Component Defines New Service

 

 

PORTLAND, Maine--(BUSINESS WIRE)--March 22, 2001--Banknorth Group, Inc.
(NASDAQ: BKNG), headquartered in Portland, Maine, has introduced online
banking for its more than 1 million customer households in six states, giving
customers the ability to do banking transactions online as well as pay bills
electronically. The company also unveiled new web sites for each of its banking
affiliates and a strong customer support service component called Customer
eCare to encourage online use among potential customers. The website is
located at http://www.banknorth.com.

 

"It's part of a major e-commerce initiative we made a commitment to last year,"
said William J. Ryan, chairman, president and chief executive officer of Banknorth
Group, Inc., one of the 50 largest commercial banking companies in the U.S.
with $18.2 billion in assets and nearly 300 branches at banking affiliates in
six northeast states. "It's the first step in our multi-year online strategy for
the company and its affiliates."

 

The new program offers traditional online banking and bill paying services 24
hours a day via the Internet, but also gives customers an added Customer
eCare component that puts a skilled person together with customers who
have questions or problems, seven days a week.

 

"We're using our online banking services to take customer service to the
next level," said Brian Wood, executive vice president and head of Banknorth's
eCommerce Development Department in Portland. "Customer dissatisfaction
with other banks' online banking services, we found, stemmed from the
inability to talk to someone if there were questions. So in developing our
program, we took good old-fashioned customer service that we are known
for at the branch level and applied it to online banking via the Internet. It's
what sets us apart."

 

Online banking is rapidly on the rise among consumers in the northeast and
nationwide. Studies of the six states in the Banknorth market area show
that a little less than half of all households have a computer, which is on
par with national statistics. Studies have also shown that about half of
all households use some form of online banking, but that in three years,
those figures are expected to double. 

 

Sign up takes less than 5 minutes

 

Signing up for online banking takes less than five minutes, Wood said.
Customers go to their bank's web site and are invited to sign up for online
banking. After filling out a simple form, within minutes they can view their
account and conduct transactions.

 

New web sites for member banks also launched

 

The new online initiative launched by Banknorth this week also included
newly designed web sites for the company and its eight banking affiliates.
A pilot study conducted with 280 customers and employees who used
and tested the new sites and the online banking program showed positive
results in all areas - from navigation and ease of use to lack of clutter and
lack of down time.

 

Security features solid

 

"In addition to customer service and ease of use, security and privacy
were other issues we focused on in developing the online service," said
Wood. "We put resources into building a secure site, from the 128-bit
encrypted technology to building an entire back up system for each
component in the e-commerce arena. We also set strict internal
guidelines before building the system, and joined forces with technology
partners that could help build and offer a secure site. We received high
marks in all areas of security from top online security firms."

 

Banknorth Group operates banking subsidiaries in six northeastern states.
In Maine, where the company is headquartered, they operate through
Peoples Heritage Bank, NA; in New Hampshire through Bank of New Hampshire,
NA; in Massachusetts through First Massachusetts Bank, NA; in Vermont
through The Howard Bank, NA; Franklin Lamoille Bank, NA; and First
Vermont Bank, NA; in New York through Evergreen Bank, NA; and in
north central Connecticut through GBT, a division of First Massachusetts
Bank, NA. The web site addresses of the various banks are:

 

*T Peoples Heritage Bank               
http://www.peoplesheritage.com
Bank of New Hampshire               
http://www.banknh.com First Massachusetts Bank            
http://www.firstmass.com GBT, a division of First   Massachusetts Bank, NA             
http://www.gbtbank.com First Vermont Bank                  
http://www.firstvermont.com Franklin Lamoille Bank              
http://www.franklinlamoille.com Howard Bank                         
http://www.thehowardbank.com Evergreen Bank                      
http://www.evergreenny.com

 

   Customers can also access any of the above banks through the

 

Banknorth Group corporate web site address, which is

 

http://www.banknorth.com.

 

 

 

    Banknorth Group also operates a variety of insurance agencies in

New England as subsidiaries of Morse, Payson & Noyes, Insurance, its

lead agency; a money management firm, The Stratevest Group, NA; an

investment subsidiary, Heritage Investment Planning Group; and a

leasing company, Banknorth Leasing. Other subsidiaries and divisions

provide services in mortgage banking, asset based lending, private

banking, merchant services and other financial services.

 

 

 

CONTACT: 

 

Banknorth Group, Inc.

 

Brian Wood, Exec. VP

 

(207) 828-7189

 

or

 

Brian Arsenault, Sr. VP

 

(207) 761-8517

 

KEYWORD: MAINE MASSACHUSETTS NEW HAMPSHIRE VERMONT CONNECTICUT

 

EW YORK

 

 

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 eFinance to Provide NEC With Online Credit Decisioning & Transaction Finance
Technology

 

 

PALO ALTO, Calif.--(BUSINESS WIRE)--March 22, 2001--eFinance Corporation and
NEC Leasing Services, a division of NEC Industries, Inc., today announced an
agreement for eFinance, a credit decisioning and workflow management
technology company, to provide NEC and its dealers with a Web-based,
automated loan origination platform for credit decisioning and documentation.
The deal gives NEC, a global leader and provider of Internet solutions for
business, including the manufacture and sale of computers, communications
equipment, electron devices and software, the ability to offer dealers and
distributors online leasing and finance solutions for their customers using
eFinance's Transaction Finance System(TM) (TFS).

 

"We were very impressed with eFinance's technology and their ability to
understand our business. They are able to deliver a platform for comprehensive
online credit application decisioning and documentation at the Web point-of-sale,"
said Herschel Salan, Director, NEC Industries, Inc. "With the eFinance technology,
we can close leasing deals quickly and efficiently, and we can offer our
dealers and resellers improved convenience and flexibility."

 

NEC Industries will use the eFinance TFS(TM) in their online operations.
With this technology platform, NEC can offer its customers an online
credit application, real-time credit decisions that incorporate multiple
business information and credit scoring databases, and point-of-sale
documentation, including lease agreements and UCC filings. eFinance
will also provide NEC with proprietary fraud detection technology that
will enhance NEC's underwriting process.

 

"NEC is a global technology leader, and they are very focused on
helping their customers improve their businesses," said Reid
Rutherford, CEO of eFinance Corporation. "Our Transaction Finance
System will be seamlessly integrated into NEC's workflow process,
which will contribute to improved productivity and efficiency. The
TFS(TM) provides NEC with a critical tool for improving revenue
through faster lease closing times, and it contributes to increased
profitability by streamlining the financing workflow process. We
are very excited to be able to work with a company of NEC's
stature and size."

 

NEC Industries' dealers and resellers will be able to use the TFS(TM)
to process their customers' credit requests, primarily for NEC
telecommunications systems and computer hardware. The dealers
will access the TFS(TM) through the NEC Leasing Services Web
site (www.neclease.com) using a password-protected system.

 

About eFinance Corporation

 

Founded in 1999, eFinance enables the real-time completion of
online transaction financing for vendors, e-marketplaces, financial
institutions, and other companies with an e-commerce initiative.
eFinance's comprehensive and flexible financing solution provides
credit decisioning and fulfillment at the Web point-of-sale in addition
to providing tools for management of complex credit workflows.
The eFinance Transaction Finance System(TM) (TFS) accepts a
credit application via the Internet; delivers an immediate credit
decision; creates and delivers documents online; and provides
verification, funding, shipment, and settlement notification. The
eFinance platform can be seamlessly integrated into a company's
e-commerce initiative for transparent processing of credit and
leasing options. With headquarters in Palo Alto, California, eFinance
is a privately held company led by seasoned professionals with
extensive experience in credit, financing, risk management, and
technology. eFinance's investors include CSFB's Sprout Group,
NIF Ventures USA, Sanchez Capital Partners, and DigitalVentures.
For more information, please visit the company's Web site at www.efinance.com.

 

About NEC Industries, Inc.

 

Since 1986, NEC Leasing Services (www.neclease.com), a division
of NEC Industries, Inc., has delivered flexible leasing and financial
solutions to NEC customers nationwide. As an affiliate of NEC
Corporation, the company is positioned to offer the financial
resources of a global technology leader. NEC Leasing Services
offers the best of both worlds: uncompromising excellence in
financial services delivered by professionals that understand
technology. For more information about NEC Leasing visit the
company's web site at www.neclease.com. NEC Corporation
and its affiliates worldwide are a $48 billion (net sales 1999-2000)
global leader whose 154,000 employees are dedicated to the
development, manufacture, and marketing of leading-edge computer,
communications, and semiconductor products and services.

 

CONTACT: 

 

eFinance Corporation

 

Annamarie Dunn, 650/739-1725

 

annamarie@efinance.com