New Trends in Leasing
Many companies have abandoned or radically changed their broker program with the most recent US Bancorp, who has just eliminated a number of SIC codes for future leasing, according to request for sources for a number of them. It seems the drive has been to vendors with mini-captive lessor programs on private label contracts and higher “referral fees.”
The market for independent brokers is creating avenues from banks and young lessors to enter the marketplace, although the list is smaller. The list strictly after vendor business, and not direct or indirect through brokers, is getting much larger with many innovative programs. The trend is creating more captive lessors. And brokers being involved in setting up the captive lessor program as an employee devoting all their time exclusively to the leasing program.
Leasing Companies Out of Business
plus No Longer taking Broker/Discounting Business
Companies with an * are no longer in business. The others are companies that were taking broker business, but announced that they no longer are accepting broker business. Many have also down-sized or are managing an existing portfolio.
More details are available in this list by company name:
http://www.leasingnews.org/list_alpha_new.htm
Advantage Business Capital, Lake Oswego, Oregon
AEL Financial, Buffalo Grove, Illinois
(No longer taking new broker business)
Alliance Financial, Syracuse, New York
Balboa Capital, Irvine, Ca
Bankers Healthcare Group, Weston, FL.
*C and J Leasing Corp, Des Moines, Iowa
*Carlton Financial Corporation, Wayzata, Minnesota
*Chesterfield Financial, Chesterfield, Missouri
*Churchill Group/Churchill Leasing, Jericho, NY
CIT Group (limited)
Columbia Bank Leasing, Tacoma, WA
Commercial Equipment Lease, Eugene, Oregon
Concord Financial Services, Long Beach, California
Court Square, Malvern, Pennsylvania
*Creative Capital Leasing Group, LLC, San Diego, CA
Direct Capital, Portsmouth, New Hampshire
Diversified Financial Service, Omaha, NE
Dolsen Leasing, Bellevue/Yakima, Washington
Equipment Finance Partners, a division of Altec, Birmingham, Alabama
Evans National Leasing, Inc., Hamburg, NY
Enterprise Funding, Grand Rapids, Michigan
*Excel Financial Leasing, Lubbock Texas
*First Corp.(IFC subsidiary), Morton Grove, Illinois
First Federal Financial Services, Inc., Menomonee Falls, Wisconsin
First Republic Bank, San Francisco, CA
Frontier Capital, Teaneck New Jersey
*GCR Capital, Safety Harbor, Florida
GE Capital, Conn (limited)
Global Funding LLC., Clearwater, FL
*Greystone, Burlington, MA
*Heritage Pacific Leasing, Fresno, CA
Hillcrest Bank Leasing, Overland Park, KS (Parent bank sold)
Huntington Equipment Finance, Vendor Finance Group, Bellevue, Washington
*IFC Credit Corp., Morton Grove, Illinois
Irwin Financial (Irwin Union Bank), Columbus, Indiana
Irwin Union Bank, F.S.B. (Louisville, Kentucky)
Lakeland Bank, Montville, NJ
LaSalle Systems Leasing
*Leaf Specialty Finance, Columbia, South Carolina
*LEAF Third Party Funding, Santa Barbara, Ca.
Lombard, part of Royal Bank of Scotland, worldwide
Marlin Business Services, Mount Laurel, NJ (accepting no new brokers, they may have opened for a select fee, but no more at this time, they say.)
Marquette Business Credit Inc., Minneapolis, Minnesota
M&T Credit (Bank)
*MericapCredit, Lisle, Illinois
Merrill Lynch Financial
Midwest Leasing Group, Livonia, Minnesota
National City, Cleveland, Ohio
*Navigator (Pentech subsidiary) San Diego, California
OFC Capital, Roswell, Georgia
Old National Bank, Evansville, Illinois
Pentech Financial, Campbell, CA
*PFF Bancorp, Inc, Pomona, CA
Pinnacle Business Finance, Fife, Washington
*Pioneer Capital Corporation, Addison, Texas
PredictiFund, a subsidiary of Capital Access Network, Inc
Popular Finance, St. Louis, Missouri
Radiance-Capital, Tacoma, WA
Rational Technology Solutions, Rolling Meadows, IL
Sandy Springs, Olney, MD
Sovereign Bank, Melville, New York
Specialty Funding, Albuquerque, NM
Sun Trust Equipment Finance & Leasing, Baltimore, Maryland
*SunBridge Capital, Mission, Kansas
Suncoast Equipment Funding Corp., Tampa, Florida
TCF Equipment Finance, Minnetonka, Minnesota
TechLease, Morgan Hill, California
Textron Financial
*Triad Leasing & Financial, Inc., Boise, Idaho
*Union Capital Partners, Midvale, Utah
US Bank, Manifest Funding, Marshall, Minnesota
(new requirement: large yearly funding)
US Bank, Middle-Market, Portland, Oregon
Velocity Financial Group, Rosemont, Illinois
VenCore, Portland, Oregon (former company Len Ludwig)
Vision Capital, San Diego, California
Wachovia Bank Leasing
*Washington Mutual Financial
Western Bank, Devils Lake, ND
*Westover Financial, Inc., Santa Ana, California
(Note: Should a company policy have changed, please contact kitmenkin@leasingnews.org)
Funders looking for new Brokers:
http://www.leasingnews.org/Funders_Only/New_Broker.htm
"Broker/Lessor" looking for broker business:
http://www.leasingnews.org/Brokers/brokerlessor_bussiness.html
NAELB Broker Exchange
http://www.leasingnews.org/Pages/broker_exchange.html
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