The Transformative Potential of the SMALL LENDER Act: A Game Changer for the Equipment Finance and Leasing Industry
An Executive Summary of the transformative potential of the SMALL LENDER Act. The SMALL LENDER Act is a game changer for the equipment finance and asset leasing industry. The Act would provide relief to small businesses and lenders from the CFPB’s final rules under Section 1071 of Dodd-Frank. In addition to offering an understanding of the Act, the blog covers how it enhances accessibility and inclusion, drives innovation in the equipment finance and asset leasing industry, strengthens the market ecosystem, and helps foster economic growth and stability….
Protecting The Future of Equipment Finance: Insights from the 2024 Capitol Connections Convention
Key Executive insights from the President/CEO of LTI Technology Solutions, Jeff Van Slyke of the 2024 Capitol Connections Convention held in Washington DC on May 22nd, 2024. The blog summarizes the ELFA organized event, Capitol Connections Convention. Held on Capitol Hill, top leaders from across the equipment finance and asset leasing industry met with policymakers regarding the impact of the proposed changes to Section 1071 of the Dodd-Frank Act and its impact on the industry. Discussions focused on three critical areas:
#1. The Challenges of Section 1071 of the Dodd-Frank Act, specifically regarding extensive data collection requirements to the credit application process.
#2. CFPB’s $5 Million Threshold which effectively turns Section 1071 into a broad catch-all repository for nearly all commercial loans across the US, deviating from the original intent of the legislation.
#3. Advocacy for the SMALL LENDER Act. Collectively, ELFA members urged COngress to co-sponsor the SMALL LENDER Act which aims to provide relief from the CFPB’s final rules under Section 1071 of the Dodd Frank in 3 critical ways: extend the compliance period to three years with an additional two year grace period as opposed to the current 18-month implementation period; redefines the definition of small business to those with gross annual revenues of $1 million or less, instead of the existing $5 million; and adjusts the financial institution criteria to those financial institutions originating at least 500 covered transactions annually, rather than the current 100.
Dynamics In The Canadian Credit Market: Key Insights From The Canadian Commercial Trends Report (March 2024)
The March 2024 issue of the Canadian Commercial Credit Trends Report published by Equifax reveals a mixed picture for the Canadian business credit market. This blog highlights LTi’s SVP/Chief Product Officer Jen Martin’s key observations on the report highlighting opportunities and challenges navigating this market.
The 35th Annual ELFA Funding Conference: Navigating Challenges & Building Relationships
While the challenges in certain sectors of our marketspace loomed large, this year’s conference exuded a sense of optimism and determination. Many participants leveraged the platform to capitalize on new opportunities or cultivate relationships to navigate the turbulent waters we face. Despite the headwinds encountered in Q1, the prevailing sentiment was one of unwavering positivity and resilience. It was a poignant reminder of our collective strength and adaptability in the face of adversity.
Top Five Highlights From The 2024 ELFA National Funding Conference
Top Five Key Strategic Insights from the 2024 National ELFA Funding Conference: 1. Optimism in the Equipment Finance Industry especially in sectors such as small ticket/vendor, middle market and structured finance. 2. Strategic Growth and Innovation as strategic decisions to diversity portfolios into higher margin sectors emerge that take advantage of powerful state of the art technology. 2. Rise of Private Equity and Private Credit creating niches in Equipment Finance ecosystem. Combined with newly emerging financial backing with traditional bank lessors on large transactions, they will be a disruptive force driving industry change. 4. Captive Finance Companies Experience Shift as they actively seek additional sources of capital to sustain their growth as their manufacturers equipment prices continue to grow. 5. Evolution in Bank Equipment Finance Marketplace as they continue to evolve and focus on larger project finance opportunities such as Clean Energy, Railcar Financing and projects funded with depositor relationships.
A Congressional Visit with Representative Bacon at LTi Technology Solutions
A Congressional Visit with Representative bacon at LTi Technology Solutions Corporate Headquarters included a Town Hall Style Meeting to discuss the Equipment Leasing and Finance Industry, LTi’s operations, and legislation critical to the growth of the industry.
2021
May 2021
Randy Haug, Executive Vice President, Vice Chairman, and Co-Founder of LTi recently spoke about how the equipment finance industry has been dealing with the pandemic, the highs, and lows of 2020, and the future of equipment finance for 2021.
April 2021
(Originally published in the Leasing Life)
Last year was an historic year for UK’s financial marketplace at large. The pandemic’s economic and social impact was felt acutely by small businesses, which led to many losses and severe business interruptions.
April 2021
(Originally published in World Leasing Review)
Asset Finance • Auto Finance • Digitalisation • Leasing Legal • Software
2020
Oct 2020
(Originally published in the World Leasing Yearbook)
“Customer journey” is a term that dominates the landscape of asset finance – and for good reason.
2019
Sept 2019
(Originally published in Canadian Equipment Finance magazine)
A cautious approach to technology is understandable. Just make sure you are not waiting too long.
July 2019
(Originally published in the Canadian Equipment Finance magazine Summer 2019 issue.)
Going green is becoming a directive more than a movement, especially here in Canada. The Canada’s Changing Climate Report (CCCR), released April 2, 2019 by Environment and Climate Change Canada, states that we are experiencing overall warming at twice the global average.
- Will Your Business Fall Victim to Digital Darwinism? | January 2015
- Improving the Customer Experience | March 2015
- Shadow Databases | April 2015
- Industry Challenges | July 2015
- Technology Roundtable | August 2015
- Marketing and the Equipment Finance Industry | January 2014
- Keeping Up with Technology | May 2014
- Disrupting Technology in the Equipment Finance Industry | December 2014
- Facing Lease Management Systems Migrations Without Fear | March 2013
- Growing Your Business Through Technology | May 2013
- Using Your Lease Management System as a Competitive Advantage | June 2013
- Technology’s Evolving Role in the Equipment Finance Industry | September 2013
- A Starter Guide to System Compliance under the New Lease Accounting Rules | April 2011
- Adding Mobile Technology To Your Business – Not If, When! | June 2011
- The Secret to Optimizing Your Software Solutions | July 2011
- Effectively Using Social Media Part I | October 2011
- Effectively Using Social Media Part II | November 2011
- The Solution Provider of Choice in the Equipment Leasing and Finance Industry | November 2011