Special Report-- tomorrow

eLease Companies---How much do they have to do with the growing changes in the leasing business, and where is this all heading?---what is fact and what is hype? You can see for yourself with this report. Make your own accessment.

We are pleased to announce two new members of our Editorial Advisory Board:

Ginny Young of Brava Capital and Bruce Kropschot, Kropschot Financial Services

We will be putting a limit of keeping changes on The List for approximately two years, and an attempt will be made to put significant dates, entry, etc., on The List--hopefully it will be completed in 30 days or thereabout.

Please let me quote our newest advisor:

"Kit, I don't think you should be so concerned about complaints from companies on your list. It is merely an informal recap of major changes. Those major changes may not necessarily be adverse changes, as when a leasing company that is struggling for funding is acquired by a major bank. (Exception: New England Capital which was principally a portfolio sale with minimal operations remaining.) It merely puts lease brokers and small leasing companies on alert that there may be some policy changes at their funding sources."
Bruce Kropschot

Our readership is aimed at lease brokers and small leasing companies and we attempt to be an "insider information" about the industry, from information provided by our readers ( not just press releases ). We are not restricting the readership, but our niche is for "street fighters."
-editor

37 Leasing Companies Major Changes

American Business Leasing ( gone )
Balboa Capital ( Founder Byrne says he was not pushed out/story to follow this week )
The Bancorp Group, Inc. (Southfield, MI) ( no longer in business )
Bankvest (bankrupt)
Bombadier ( reported having problems, not confirmed )
Charter Financial ( purchased by Wells Fargo 9/5/2000 )
Commerce Security ( closed to leasing broker program )
Copelco ( sold to Citibank )
Dana ( sold off, active as captive )
DVI Capital ( out of broker )
eLease ( management team let go )
Fidelity ( acquired by EAB, a wholly owned subsidiary of ABN AMRO Bank N.V., headquartered in the   Netherlands, raising funds )
Finova ( out of market place )
Franklin Bank ( no more leases )
Imperial ( sold portfolio )
Lease Acceptance Corp---( ceases broker business 7/26/2000 )
Leasing Solutions ( bankrupt )
Liberty Leasing ( closed, California company )
Linc Capital ( out of vendor and broker business, Nasdaq halts stock sales, $13.4 loss last quarter )
Manifest Group--( 9/1/2000 purchased by US Bancorp Leasing and Financial, "...a win for all the parties   involved," Brian Bjella.
Matsco Financial ( purchased by Greater Bay Bank )
Merit Leasing ( gone )
Metwest Leasing, Spokane Wa. ( advising brokers that they have run out of funds so they are unable to   fund a transaction we have there for funding. )
Metrolease--reports closing operation, will not confirm nor deny; many serious rumors floating around the   marketplace.)
NationsCredit, Business Leasing Group (1/29/99 sold to Textron**) *"The Business Leasing Group of Nations Credit was sold to Textron and we still do broker business," Jim Merrilees.
New England Capital ( sold to Network Capital Alliance a division of Sovereign Bank. Sovereign did hire   two people who will run a sales office in CT, doing basically the same deals with the same people as   before. Little will change in that aspect.
Newcourt ( sold off )
Onset Capital ( Irwin buys 87% equity )
Orix ( closes small ticket vendor division in Portland, Oregon, "Business as usual (in New Jersey and with   brokers)," says Steve Geller )
Phoenix ( both divisions )
Prime Capital ( "yes and no" sold off, may be negotiating )
Rockford ( sold to American Express )
SDI ( closed to broker programs )
SierraCities ( post $7.7 million second quarter loss, rumors abound,including pending sale )
T&W ( bankrupt, lost their listing )
Transamerica ( sold )
Unicapital ( $11.4 million first quarter loss chairman,CEO,CFO resign, 38 employees cutback, 8/23 BSB to   use other funders reported, rumor that BSB will be "spun off", not confirmed and appears to be in the   rumor stage right now. Good news, 9/1 Bank of America renews revolving credit   line. ))
USA Capital Leasing ( gone-bk )