Well the lightning is striking too close to home now. Our company is starting to see a decline from major lenders. One company has halted funding on new business. In the grand scheme of things how many of you are seeing the same problem.
Anybody finding any new leasing companies out there? If we cannot get funding for new clients, looks like refubs may become a major option, gee that wont effect our quota at all!
Z

It's a little confusing to me - in early November we had a G.E. rep come in to talk about various programs - then they seemed like they didn't want to do anything and were actually telling us they'd give us upgrade rates to take business elsewhere!

Last week we had another G.E. rep in but have heard from other's that they're shying away - even on upgrades of existing customers.

I think all of them are cracking down on approvals.

Great America has been our preference for some time. The rates tend to be a little bit higher, but they are very easy to work with and the FMV's are a fixed residual - so no surprises at the end of term for us. We also use a Private Label with them - so leases have our name on them.

So much for Stimulus and bailouts!

Z

I've had nothing but declines from GE for the past 8 months. I am not even going to bother sending any more apps their way. I think if any manufacturer has the wherewithall to do their own leasing, they could kill the competition right now.

We started working with Greater Bay Capital. For those of you that are BTA members, check out the BTA member section. Greater Bay Capital has a program specifically for BTA members. I haven't yet tried the "banned industries" (real estate, mortgage etc) but did get an approval for an account that was turned down by DLL. FYI - They do not write leases on used equipment.