Zack Marsh, appointed to serve on the Board of Trustees of the ELFF as Secretary/Treasurer
Equipment Leasing and Finance Foundation (ELFF) has announced the newest officers on its Board of Trustees, and we couldn’t be more proud of our very own Zack Marsh, Orion First CFO, who will serve as Secretary/Treasurer.
His modesty won’t permit him to say it, so allow us: Zack’s leadership, geniality, and experience will only help the ELFF as our industry continues to plan for a post-COVID world.
Read the press release and please join us in congratulating Zack and the rest of the newly minted Board officers!
Created by the Equipment Leasing and Finance Association (ELFA) in 1989, the ELFF is a non-profit organization guiding the association and the industry by providing knowledge, intelligence and programs to promote continual innovation.
Thanks - A letter from our CEO
Orion First has been busy these last months, launching a new customer portal, promoting new leadership, and making sure the needs of every client, employee, and stakeholder is attended to. Such categories are impersonal, and so we remind ourselves every day that we are all people first.
On that note, with Thanksgiving upon us, I’d like to take a moment to formally express my gratitude—and that of the entire Orion leadership team—to every one of you.
Clients: Thank you for entrusting us with the care of your customers and portfolios. You've taken on challenges this year like you've never seen before, and you maintained the high level of trust you place in us. We are grateful for that, and for our relationship.
Staff: Thank you for stepping up during this disruptive year. You took on challenges you never anticipated and rolled with the punches. You’ve taken to heart our purpose in helping small businesses succeed and have made the world better for it. Thank you. Thank you. Thank you.
Unitholders & Lenders: Thank you for believing in our purpose enough to support us with your time and investment. Small business owners often operate—on small margins and high risk—in the belief that what they’re doing is meaningful. Having your support during these turbulent times has helped us endure and prepare for the great future we have ahead of us.
Vendors & Suppliers: Thank you for your teamwork, your patience, and your can-do attitude. You’ve demonstrated that we’re all in this together, and we can help each other ride out the storm with minimal damage. And our relationship is now stronger for it.
Together—you, me, all of us—we’ve met the moment and demonstrated the power of what our industry can do when people help people to help people. I’m humbled. I’m grateful. And boy, you know what? I’m optimistic.
Sincerely,
David T. Schaefer | CEO
Orion First Launches New Customer Portal for Small Business Lenders
SEATTLE, Oct. 15, 2020 /PRNewswire/ -- Orion First, a commercial loan and lease servicer, has released its latest product: a customer portal, enhancing the customer experience for borrowers.
Orion's new customer portal is a mobile-friendly website designed purely for the end user. With it, obligors can view, manage and optimize their accounts from wherever they are, at any time. It allows users to make payments, locate contract details and request payoffs, among other features. Affording small business owners more control over their accounts increases transparency and trust. For Orion's clients—lenders to small businesses—this means more highly satisfied customers.
"Today's borrowers are used to managing their financial relationships on their phones," says Quentin Cote, Orion's Executive Vice President. "Their loan and lease contracts are no exception. Orion is fulfilling that demand with its offering tailored to the unique needs of the small business commercial finance space. Now customers can have flexibility in choosing how they want to interact with their servicer."
As consumer demand for virtual banking options increases, commercial lenders are having to incorporate technological solutions into their business strategies. Orion First—a major commercial loan and lease servicer—is leading by not just adopting but synthesizing new technologies to facilitate the success of small businesses.
Preview the new customer portal at: https://orionfirst.com/customer-portal/
KEY DEVELOPMENTS AT ORION
- Increased technology product development staff by 40 percent in 2020
- Surpassed $2 billion under management in February (only 16 months after $1 billion benchmark
- 65 percent increase in staff across all departments since 2019
ABOUT ORION FIRST
A leader in commercial finance, Orion has been in the loan, lease and contract management space since 2001. Its suite of services include commercial loan and lease servicing and collection, portfolio management software with client portal, proprietary portfolio analytics and benchmarking products, and backup servicing. By pairing effective technology with experienced professional staff, Orion positions itself as a savvy manager of risk, empowering clients to focus their entrepreneurial energy on their greatest value—funding small businesses. Learn more at https://orionfirst.com
Orion First promotes three key leaders, adds Brylee Horning as new VP of customer service
Seattle — Orion First has promoted Jenny Wood to SVP of client services, Shannon Prange and Terry Wood to VPs of portfolio management, and has hired Brylee Horning as new VP of customer service and onboarding contracts.
Jenny Wood, formally SVP of customer service and onboarding new contracts will assume the role of SVP of client services.
Jenny will serve to integrate the functions of Orion’s departments into a seamless experience for its clients, emphasizing meaningful relationships. Her role will enhance the value of client businesses through insight, portfolio performance, and satisfied borrowers.
“Jenny’s a dynamic leader,” said David T. Schaefer, CEO of Orion. “Her skills, experience, professionalism, and accountability have shaped our growth and informed our direction. It’s no mistake that her strength in client services has become a strategic focus for us.” As Orion elevates its mission—"to provide deeper insight, stronger portfolio performance, and a highly satisfying customer experience”—the need for client services to coordinate and integrate its services has become essential. As Schaefer says, “We need Jenny to take the team to the next level. Jenny’s broad experience and encyclopedic knowledge are ideal for this position.”
"It's a perfect fit, given my experience and Orion's goals,” says Wood. Client services are the core of what Orion is about, and giving it this added attention really exemplifies everything I love about this company."
Wood joined Orion in November 2002 in the collections department. She’s been responsible for collection of accounts up to 90 days delinquent, supervision of front-end collections, personal property and sales tax compliance, as well as various areas of customer service. Recently, she was profiled as one of the Monitor’s 50 most influential women in leasing.
Brylee Horning, formerly VP of credit and syndication at Summit Commercial Finance, joins Orion as VP of customer service and onboarding of new contracts. Horning’s focus on these two areas will help build consistent, repeatable processes, especially as Orion transitions towards new ways of interacting with clients and obligors, such as e-booking and its new obligor portal.
“We’re excited to have Brylee on our team,” says Schaefer. “She’s an experienced commercial finance leader. Her knowledge will help us grow, reach and support a greater number of small business lenders.”
Horning attended the University of Arizona and the University of British Columbia and has worked for Summit for the past 16 years. While at Summit, she filled numerous roles on the origination and syndication side of commercial financing, most recently as VP of credit and syndication.
“I'm thrilled,” says Horning. “It's an exciting time for Orion and it’s an honor for me to be associated with this talented organization that each day sees some new synthesis of preparation, service and innovation.”
Shannon Prange and Terry Wood have been promoted to VPs of portfolio management.
Prange and Wood will each lead a unit, supporting Orion’s client-focused strategy in the collections area by creating two client-centric collections teams. The new structure will limit the number of clients per unit and improve internal process knowledge on client needs and nuances.
Prange builds on her collections team leadership role, while Wood has played multiple roles within Orion and Mintaka Financial, with a deep background in the industry.
Orion enjoys a reputation for an effective collections process. Tony Sedlacek, Orion’s SVP of portfolio management, explains the two-unit strategy: “It will not change the fundamentals of Orion’s collections practices, but we expect the change to help us in our mission to delight the client and deliver best in class results.”
Orion First Surpasses $2 Billion Under Management
SEATTLE: Orion First has surpassed $2 billion in assets under management. This milestone comes only 16 months after reaching its previous benchmark of $1 billion.
The assets under management consist of small business commercial loans and leases for which Orion provides all back-office portfolio management, servicing and collection duties for a clientele that ranges from federally regulated banks to independent finance companies.
"It's proof of our performance, that we've got a good product," says David T. Schaefer, CEO of Orion First. "Passing one billion was a big one—we've shown that we're here to stay. Now we're showing that we can continue to scale and deliver value. It's gratifying, for us and for our clients. We're ready for whatever 2020 brings."
Orion's impressive growth is attributable to several key factors. It has a highly skilled team that continues to grow; it has invested heavily in developing its own proprietary technology; it maintains a clear-eyed strategic focus on its core strengths; and it keeps its eye on future trends and developments in both the marketplace and in technology.
2019 was a banner year for acquisition of new clients and portfolio growth of Orion's existing client base. New clients included start-ups as well as established finance companies with seasoned portfolios. "We see more finance companies considering outsourcing their portfolio servicing function," continues Schaefer. "They're relying on us to manage their portfolio, mitigate risk, and continue to scale our operation as their new business originations continue to grow."
Looking forward for Orion, 2020 is set to be a year of increased new business volume and continued investment in human resources and technology, which will position Orion to meet the needs of its growing clients and assure strong portfolio performance in future years.
ABOUT ORION FIRST:
A leader in commercial finance, Orion has been in the loan, lease and contract management space since 2001. Its suite of services includes commercial loan and lease servicing, commercial collections, proprietary scoring and decisioning products, and backup servicing. By pairing effective technology with experienced professional staff, Orion positions itself as a savvy manager of risk, empowering clients to focus their entrepreneurial energy on their greatest value—funding small businesses.
Congratulations to Jenny Wood for joining the ranks of The Monitor's 50 most influential women in leasing!
Jennifer Wood, Orion First's Senior Vice President of Client Services, has been named one of the 50 most influential women in leasing by the Monitor Daily. We are fortunate for her vision leadership at Orion and are excited that The Monitor has recognized her influence.
“I see a future in which men know how to offer critique constructively and tactfully; they know to ask my thoughts and opinions. And we need to help them get there. We can’t promote women in the industry without men alongside us walking the walk.”
Click here to read her feature in The Monitor
"FIRST IN - LAST OUT” Orion Featured in the Monitor Daily Spotlight on Asset Management
Orion First’s Commercial Collections department was featured in the latest edition of the Monitor Daily’s Spotlight on Asset Management and Tony Sedlacek had the chance to explain some of Orion’s proven philosophy on asset management and recovery services.
“The hallmark of the Orion way of business is a mix of the old school with the present day; leveraging a solid network of relationships forged over years in the equipment finance industry, while utilizing modern technology to optimize operations, track down delinquent debts and achieve the maximum recovery.”
Click here to read the complete Spotlight
Congratulations to Mikey Schaefer, son of Orion CEO David T. Schaefer
Son of CEO David T. Schaefer, Mikey Schaefer is a lifelong climber and world-famous visual storyteller, with photography featured in iconic publications including National Geographic Magazine, Alpinist, and Outside, as well as work in cinematography featured on 60 Minutes, Fox Searchlight and more.
His most recent contributions to Free Solo earned an Academy Award for Best Documentary Feature and continue to stun audiences around the world with a breathtaking showcase of the nearly unbelievable solo climbing feat.
Featuring Alex Honnold, world-renowned rock climber, and longtime friend of Schaefer, Free Solo exhibits his death-defying, 3200-foot free climb of El Capitan in Yosemite National Park. Summiting the massive granite face with no rope or harness seems outrageous to most, but Alex achieves his dream and masters the unthinkable, with Mikey and crew alongside to share his journey with the world.
The only way to capture the intense drama of Alex’s solo, ropeless ascent is to climb it yourself...and that’s exactly what co-director Jimmy Chin, Mikey Schaefer, and the photography/cinematography crew did. Secured with full climbing and camera gear, they can be seen suspended thousands of feet above the ground, even hanging far away from the rock face itself, in order to get the best shots and distract the climber as little as possible.
Beyond highlighting the hair-raising climb, the documentary gives an inside look into the mental and emotional struggles faced by the crew as they capture what could at any second become the final act in the life of a climbing legend and friend.
Orion First is proud to feature photography from Mikey's world travels across our website and marketing collateral. The awesome work he produces continually inspires our organization and fuels our drive to help the small business community reach new heights.
Our sincerest congratulations go out to Mikey and the entire crew for such an incredible job capturing and sharing this potentially once in a lifetime accomplishment!
Mikey Schaefer is available for commercial and editorial assignments. Visit his website www.mikeylikesrocks.com to view his portfolio and learn more.
-Watch Free Solo, ad free, this Sunday on the National Geographic channel, 9pm (8pm Central)-
https://www.youtube.com/watch?v=dtnjRoDa71Y
https://www.nytimes.com/video/opinion/100000006186870/what-if-he-falls.html
Orion First’s Industry Commitment Shines into 2019 with ELFA Involvement
Orion First continues to demonstrate its commitment to the equipment finance industry through robust involvement in the Equipment Leasing and Finance Association (ELFA).
“I encourage all of our employees to seek leadership roles in associations like the ELFA in order to help hold our industry accountable to a higher standard,” said CEO, David T. Schaefer. “Orion’s purpose is to empower those who fund small business, so they can in-turn help their own communities. With my term as Chairman complete, I am glad to see the Orion team continuing to promote this purpose in order to elevate all communities across the country.”
The Orion First team members active on the 2019 ELFA Committee rosters are:
David T. Schaefer, CLFP, CEO, serves on the Board of Directors. During his 2018 term as Chairman of the Board, Schaefer helped further inclusivity and diversity in the association through his commitment to - and promotion of - the Women’s Council and the Emerging Talent Advisory Council.
Jenny Wood, CLFP, SVP Client Services, is serving on the 2019 Women’s Council, working to increase the participation and leadership of women across the association and the equipment finance industry.
Joe Collins, SVP, Business Development, starts his third year on the Service Providers Business Council Steering Committee; representing organizations and firms providing a variety of related services to the members of the other four Business Councils.
Zach Marsh, CLFP, CFO, was appointed to serve on the Board of Trustees of the Equipment Leasing and Finance Foundation (ELFF), a non-profit organization guiding equipment finance innovation through industry specific knowledge and programs.
Stephen Brown, CLFP, Accounting Specialist II, will serve on the Emerging Talent Advisory Council (ETAC). Charged with finding engaging ways to attract and retain valuable leasing/financing talent, the ETAC’s mission is vital to the success of our industry during hiring booms and talent shortages like we currently experience.
Quentin Cote, President of Mintaka Financial is starting his second year on the ELFA's Small Ticket Business Council Steering Committee. Representing financial services organizations primarily involved in transactions under $250,000, the Small Ticket BCSC advises the ELFA Board of Directors on how to best meet the needs of this vital category of ELFA Membership.
ABOUT ELFA:
The Equipment Leasing and Finance Association (ELFA) is the trade association that represents companies in the $827 billion equipment finance sector, which includes financial services companies and manufacturers engaged in financing capital goods. ELFA members are the driving force behind the growth in the commercial equipment finance market and contribute to capital formation in the U.S. and abroad. Its 575 members include independent and captive leasing and finance companies, banks, financial services corporations, broker/packagers and investment banks, as well as manufacturers and service providers. For more information, please visit www.elfaonline.org. Follow ELFA on Twitter @ELFAonline.
Stephen Brown, CLFP, Accounting Specialist II, Selected to Serve on the ELFA’s Emerging Talent Advisory Council
Stephen Brown, CLFP, Accounting Specialist II at Orion First, has been selected to serve on the ELFA’s Emerging Talent Advisory Council. Charged with finding engaging ways to attract and retain valuable industry talent, the ETAC’s mission is vital to the success of our industry during hiring booms and talent shortages like we currently experience.
Recently established, the Emerging Talent Advisory Council is part of the ELFA’s updated Mission and Purpose, to lead the industry towards a more diverse and inclusive future.
Click here to read about the 2018 ETAC from the May/April 2018 issue of ELFA Magazine.