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| September 7, 2000 Special Report---This is also on line at LeasingNew.org eLease or go to: http://www.leasingnews.org/elease.htm eLeasing-
aggregate funding sources accesslease.com
*also
markets software and/or services Most
of the eLease brokers have this ability. These companies aggregate, collect, connect, funding sources with lessees. They are intermediaries. They do not fund leases "direct." Most of them have an "auction" type format "matching" lessees with the lowest cost lessor. They also claim to offer a one-stop-shop for all credit and equipment types. Many of them do not "credit score" but introduce or match lessee and equipment to lessor. Most do not have "auto approval" or make so-called "instant decisions.". Most are "vendor" oriented, although all accept "direct" business, except for TotalFunding. There are other criteria such as size and nature of equipment, b2b applications, or "EIP" nature ( see Leasing Portals ). Perhaps when this list is up-dated next time, we will be able to confirm these aspects. All Leasing Companies in United States ( many with web sites ) http://www.internationalleasing.com/Industry_Directories/Leasing_Industry_in_the_United_States/le asing_companies_in_the_US_A.html Definitions This list has purposely excluded banks, brokers, fundors and lessors who may have their own web sites and collect and/or process applications over the internet. The purpose is to specifically characterize the growing market place of leasing companies who solely conduct business over the world wide web The great majority of leasing companies are multi-faceted, relying on vendors, brokers, direct business from marketing, telemarketing, referrals, direct sales, and many have "on line" capabilities. These entities are not classified as "unique eLeasing" companies on this list, although they may have the capability to process leases on line. There are many who can, and are quite large, such as GE Capital, CIT, or owned by Chase Manhattan or Wells Fargo bank. There are all sizes of such "multi-faceted" leasing companies, perhaps as many as from five to eight thousand leasing entities involved in the leasing industry in the United States.***1. This number may be as high as thirty thousand***2, if including captive lessor: companies who produce or sell a product using a leasing division such as IBM, Hewitt-Packard, Sun Microsystems, 3Com ,or Comdisco. The great majority of leasing companies on line most likely today collect only a script lease application. There is a relatively new phenomena this year, where multi-faceted leasing companies now have an interactive web site and can process applications from start to finish, meaning documentation and funding of lease contract on line. Purposely multi-faceted leasing companies who have ownership or control of a sister company are not included in this list. Companies, such as System 1, a leader in the leasing industry, have entered the dot.com world. They formed Capital Stream with over 130 employees bringing all size of leasing companies on line. According to Bob Rodi, Lease Now: " Being recognized as an "ASP" (application service provider) has become very desirable in the dot.com world. A true ASP is a serious solutions provider to a particular marketplace. Most of the real ASP's have a suite of web based tools that are available to users and may be part of an 'extranet'. There are a lot of wannabe ASP's and there are a lot of software companies that have decided to tell people that they are an ASP. "In my opinion, I have yet to see one for the equipment leasing industry. Right now, the only company that I have seen that even remotely deserves to be called an ASP is Capital Stream (formerly System I) If they continue on their current development path and add a few services they will get there. "The other product, that I believe has been released by Fair-Isaac for the finance industry is 'Liquid Credit' Although I have not seen a demo yet the product described in the initial literature would qualify. One more company that sounds like an ASP is e-credit. "The acronym ASP has come to mean two different things lately in the internet/dotcom sector. I believe that Wyse/Sierra Cities, in referring to themselves as an 'ASP', means to position their offering as an 'Application Service Provider' not ' Active Server Pages' "The term Active Server Pages is a programming tool for web based applications, primarily directed at MS Explorer and using the Microsoft IIS server(internet information server) as opposed to Alair Cold Fusion, Sun Java or Netscape based apps. Active Server pages are difficult, if not impossible to run on a browser other than MSIE 5 or better. " Brian Murray, Lease2Save explains how it works at his company: "We offer a Vendor Finance System, just like SierraCities is offering Wyse Technology, that empowers equipment or software vendors to offer their customers access to lease financing directly from their website or intranet. "Our Vendor Finance System works off of an ASP (Active Server Pages) platform, which means that when the user selects lease financing form a vendors website, the user will be sent to our server, but will enter an area that has been customized for the vendor. Our Vendor Finance System allows us to place custom logo's and mapping rules that specifically apply to the vendor, therefore, the customer doesn't get the sense that they have left the vendors site and has immediate access to our leasing applications that have been customized for the vendors products. "The major advantage of an ASP platform is it can be easily scaled to accommodate a very large number of vendors with very low implementation costs. Plus, as we continue to improve our applications, every vendor will immediately receive the updates and will never have to pay for them. This compares to a software program that must be installed on each users hard drive and updated often. "Wyse Technology is a developer of thin-client ASP applications for a number of services. Their agreement with SierraCities allows them to lease the thin-client hardware necessary for users to take advantage of their ASP applications (i.e. computer leases). Lease2save.com could have also created WyseCapital for Wyse Technology just as SierraCites did." There are under 75 eLease companies with this ability, according to the list compiled by Lease News. * * This is from the list noted in this report, Capital Stream customers, plus iLease, lease2save ( I have a list of their customers, but could not confirm all with iLease and with lease2save, although from one of their customers, as a courtesy we are not listing them without their permission. There are other such firms, but a best guess would be not over 100 from independent leasing companies, and perhaps including banks, another dozen to 25 at top. There is a wide open marketplace for this service/software.) eLeasing software These companies either sell, maintain, provide, and offer other services exclusively for the leasing industry. This does not include companies who build and maintain websites. These companies provide the software for the leasing industry to provide on line process of leases and/or information on the world wide web. Some are full service providers from application to documentation. Some also are eLease Brokers. * a-r-m.com
*
eLease Brokers
(1) . DocuTouch is a Seattle-based, privately held ASP (Application Service Provider)
that offers corporations technology needed to manage and digitally sign legally
binding documents. (2) Lease2save.com offers their co-branded vendor software (ASP) and application processing support for free, according to Brian Murray.
Capital Stream Customers .COM
Financial iLease Customers
eLessors
These are single source companies, as stated in the trade, who use their own funds.
They are direct lessors.. *** Actually for this definition only Internet-Financial.com
and netbank.com are the only "unique" eLessors.
ATEL ( Cyberlease.com )+ (1) (1) These companies originally are multi-faceted leasing companies, but due to their extraordinary marketing, investment in software, and leadership in the industry, are included in this "unique" eLessors list. ***3 (2) DirectLease is a funding source, but will also syndicate business that doesn't fit their profile. They are part of Fleet Bank. (3) While Crittenden Leasing Reports records this company as accepting broker business, I-F spokesperson Scott Owens says it is more a "referral fee."***4 (4) This company is one of the most active and may be a multi-faceted, but is definitely heavily into e-mail and postal mail marketing, plus telemarketing (5) A subsidiary of a "bank group,." but appears independent, but very active. They may be taken off the "unique eLease" list as being "multi-faceted" (6) Owned and/or controlled by Balboa Capital, a multi-faceted lessor, and in fact would then be a subsidiary. General Leasing Software This can be considered an "other" section as it covers accounting and servicing of leasing portfolio's or functions, such as filing Uniform Commercial Code filings on line.
Automated Resource Management, Inc. Additional List of Leasing Company Software Providers in the United States http://www.internationalleasing.com/Industry_Directories/leasing_software_providers.html
Leasing Organization These are professional equipment leasing organizations with their own web sites, which may also be considered "portals" or "EIPS". They not only provide education, conferences, fraternal friendship, but offer many business services, such as the National Association of Equipment Leasing who has a special program to allow members to communicate with each other ( see Special Mention ) and to obtain a web site at an extremely low price with an active on line application; with www.webshoppe.net ( Ron Baumgardner) or the United Association of Equipment Lessors, which offers a Certified Lease Professional program to all in the industry who past quite an thorough exam ( not just members of its organization ) , plus was the first to offer its members free e-mail addresses back in 1994. Eastern
Association of Equipment Lessors eael.org/ Leasing
Portals
bizwiz.com #1 The CocoExchange.com is a portal for buyers and sellers of equipment. Lease2save.com supports their back-end leasing transactions, using their ASP Vendor System. Our software was integrated into their website. #2
" We've successfully listed over $4.5 billion from our Funding Directory, attract
over 50,000 daily visitors from 20 countries around the world and sold out our
first "eLeasing Conference" in 45 days These companies are classified in the world wide web as "portals". Technically "aggregate eLease brokers" may also be classified as "portals;" as their web sites also connect leasing users, brokers, fundors, service providers and all those searching information in the equipment leasing industry. They technically are eLease brokers who are paid a fee for putting debtor and creditor together. This group has a different approach and thus the reason for this category. The success of Internet portals such as My Yahoo! and My Excite have inspired companies to develop Enterprise Information Portals (EIPs) as a way to allow business users to access corporate information. An Enterprise Information Portal is an application that enables a company to unlock internally and externally stored information, and provides internal and external users with a single gateway to personalized information needed to make informed business decisions. It may be viewed an approach as intermediary by using a highly sophisticated browser, part of the new growing business-to-business (b2b)trend on the internet to introduce companies to each other. These companies do not consider themselves eLease brokers, as do the aggregate eLease brokers are really on line lease brokers. This group consider themselves "dot.com". They may charge a membership fee or a specific fee for their services either from the applicant, broker, or funder, or all three. They are more an "organization" browser, and perhaps defined best as an "EIP" for the leasing industry.
Special Mention/Honorary Mention LeaseNow.com---This is a operation by a multi-faceted lease company, but it is quite unique and does not belong in the other categories as it is both a "portal" and an "eLease" and a "software" company. It is belongs in all three categories .It is the only such entity to qualify to be in all categories. It also pays brokers on an specific plan. This is a most unique eLease company. (1) Netbank.com offers business equipment leasing services, thus the reason for the "special mention" and its classification as a eLessor. (2) Post@NAELB .com This may be considered a "portal" or "EIP", but does not fit into the category.The fee for this "portal" consists of becoming a member of the National Association of Equipment Brokers ( $295 a year for professional lease brokers/costs vary for other professions). Members then can send a message ( post an e-mail ) to all other members requesting information for where is the best place for a certain type of lease, post a complaint, request legal help, pass on information important to others in the leasing industry, and as important, communicate with each other. All members who join the e-mail network receive the message. It is quite unique in the industry. (1) From Bob Rodi, Lease Now: We are more of a "reverse portal". We have recently executed contracts with several web front ends that will use our engine as their processing engine. As an example www.nueworld.com will operate a service called NuEworld Business Finance powered by LeaseNOW 2000. We have similar agreements in the works with a consortium of 300 banks for whom we will private label the software and provide fulfillment services. Our engine will also run the franchise finance and equipment leasing operation for Intravo Corp. VLM (virtual loan manager) This is a desktop and web based software solution that will be marketed to banks by Intravo Corp. It will provide fee income opportunities to community banks. Our concentration will be a "customer centric" strategy that will help the community banks control their business. Just as 87% of small ticket lease transactions are generated by the vendor, other dept of commerce stats show that approximately 73% of customers seeking financial transactions go to their bank first. In
the "reverse portal" the bank website or private label software is the (2) NETBANK. com (http://www.netbank.com), is a financial services company whose sole subsidiary, NetBank, member FDIC, is the first profitable pure Internet bank in the country, having achieved profitability in the past nine consecutive quarters. With more than $1.6 billion in assets and customers in all 50 states and 20 foreign countries, NetBank was recently recognized as the best online bank by readers of Worth magazine in its annual "Readers' Choice Awards" survey and as a Money.com pick for "Best Online Banks." With its low- cost, branchless business model, NetBank also pays its customers with high interest rates on deposits with low- or no-fee banking services. The company is now tied with Quicken in an internet alliance. While their products and services include free online account access, free checking, free unlimited online bill payment and presentment, free unlimited ATM use, VISA(R) Check Card, VISA(R) credit cards, online brokerage services, mortgage lending, home equity lines and loans, insurance, IRAs, and online safe deposit boxes. footnotes: ***1
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