Joe Collins, SVP, Business Development starts third year on the ELFA Service Providers BCSC
Joe Collins, SVP, Business Development at Orion First, starts his third year on the ELFA’s Service Providers Business Council Steering Committee for 2019.
One of five primary constituent bodies at ELFA, the Service Providers Business Council Steering Committee represents organizations and firms providing a variety of related services to the members of the other four Business Councils. Associated company types include: accounting, collections, law, consulting, software, equipment management, university/government, executive recruiters, insurance, nonprofits/associations and publishers.
Click here to see the full roster of Business Council Steering Committee members.
Orion First Welcomes Kim Riggs to the Business Development Team
GIG HARBOR, WA – Orion First is happy to announce the addition of Kim Riggs, formerly Vice President of Business Development at Snap Advances, has joined Orion First as a member of the business development team.
“We are excited to add Kim to our team at Orion First,” said David T. Schaefer, CEO of Orion First. “She is an experienced sales and development leader with years of industry involvement throughout the small business lending and alternative finance sectors. I am confident that her knowledge will help us grow our reach and support a greater number of small business lenders as we enter 2019.”
A graduate of Washington State University, Kim’s professional experience includes development roles at both direct lender and service provider companies. As a sales professional, Kim has been active in the industry for over a decade, attending industry events, growing her professional network and developing the connections needed to drive growth in small business lending. A longtime resident of Gig Harbor, WA, Kim enjoys skiing, boating and water skiing in the summertime with her three children.
“As a regular conference goer, and someone generally active in the industry, I’ve been connected with the team at Orion First for many years, and have always admired their dedication and professionalism,” said Kim Riggs. “So, I jumped at the opportunity to join their ranks and contribute to growing their organization. Today’s borrowers demand more services, product options, and responsiveness from lenders, so third-party resources like Orion are in high demand and can really provide greater value to the end user.”
Zack Marsh, CLFP, CFO, appointed to serve on the Board of Trustees of the Equipment Leasing and Finance Foundation (ELFF)
Orion First is excited to announce that Zack Marsh, CLFP, CFO, was appointed to serve on the Board of Trustees of the Equipment Leasing and Finance Foundation (ELFF).
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.
Click here for the full ELFF 2019 Board of Trustees roster.
Jenny Wood, SVP Client Services serving on the 2019 ELFA Women’s Council
Orion First is excited to announce that Jenny Wood, SVP Client Services, will serve on the 2019 ELFA Women’s Council!
Working to increase the participation and leadership of women across the association and the equipment finance industry, the Women’s Council is a vital piece of the ELFA’s updated Mission and Purpose and will help grow diversity and inclusion throughout the industry.
Click here for the recap of the 2018 Women’s
Leadership Forum organized by the Women’s Council
Click here to read about the ELFA’s updated Mission and Purpose.
Jenny Wood, SVP Client Services at Orion First Elected to the 2019 CLFP Foundation Board of Directors
Jenny Wood, CLFP, stated, “I couldn’t be more excited and honored to be a part of the CLFP board of directors. It wasn’t so long ago (okay maybe it was) that Reid and I were pulling all-nighters studying to pass the exam together. I will never forget the late nights and early mornings, but looking back, it developed a lifelong friendship I am very thankful for. I have always said it’s not about getting to the finish line but about the journey on the way. I know that by being part of this group I will not only help others become more involved and further their careers in the leasing industry, but also help them enjoy the journey on the way there.”
The Certified Lease & Finance Professional Foundation announced its 2019 board of directors.
They are:
- Sudhir Amembal, CLFP – Amembal & Halladay
- Todd Buzard, CPA, CLFP – First American Equipment Finance
- Andrew Eller, CLFP – First American Equipment Finance
- Chris Enbom, CLFP – AP Equipment Financing
- Nathan Gibbons, CLFP – Innovation Finance
- Joe Leonard, CLFP – Oakmont Capital Services
- Tamara McCourt, CCE, CLFP – LendSpark
- Dan Nelson, CLFP – Tamarack Consulting
- Kevin Prykull, CLFP – PNC Equipment Finance
- Nick Ross, CLFP – Western Equipment Finance
- Pete Sawyer, CLFP – Sun South Equipment Leasing
- Jason Seitz, CLFP – BMO Harris Equipment Finance
- Marci Slagle, CLFP – 36th Street Capital
- Jenny Wood, CLFP – Orion First Financial
The CLFP designation identifies an individual as a knowledgeable professional to employers, clients, customers, and peers in the equipment finance industry. There are currently 619 Certified Lease & Finance Professionals and Associates throughout the world.
David T. Schaefer's 2018 Chairman Address Explores the Storied History of the ELFA
President and CEO of Orion First, David Schaefer had the honor of delivering the 2018 Chairman Address as one of his final acts as the Chairman of the Board of Directors of the ELFA. Watch his speech below:
2018 Chairman Dave Schaefer reported on the state of the industry - “Perseverance is Key”
He highlighted the association’s influence on a number of industry milestones. For example, a major advocacy effort by ELFA positively impacted the direction of the new lease accounting standard, and the association’s advocacy on recent tax reform legislation benefited members. “Thanks to ELFA’s advocacy efforts, the tax measure preserves important incentives designed to promote equipment acquisition,” he noted.
In recounting the history and resilience of the industry, Schaefer shared some of his own personal history. He revealed that in the late 1970s his father was taken hostage by Iran and held for 444 days. “This shaped me forever as a person,” he said. “I don’t allow myself to have a bad day because I know that people deal with really bad situations and I appreciate every day of my life. I also learned to appreciate perseverance.”
Schaefer said his appreciation of perseverance reappeared two decades later he launched his company Orion First Financial on Oct. 1, 2001, in the wake of 9/11 terrorist attacks. “It felt like the economy was crumbling down around us, and here I was launching a new business!” he recalled. “This was another lesson in perseverance. When we are faced with a great challenge, our determination and grit can be our most important assets.”
He acknowledged that many in the industry have faced challenges with grit. “I know many of you in the audience have faced adversity in your businesses and persevered to be here today. When we talk about our industry emerging and excelling, it is a testament to our ability to face challenges head on, adapt to change and discover new opportunities and solutions.”
After reviewing the evolution of the industry, Schaefer moved on to the second prong in the Convention theme: What’s emerging in the industry.
He spotlighted the changing customer experience, pointing to customers’ new mindset toward usage rather than ownership of equipment; the “uberization” of assets, or utilizing assets by sharing them; and increased demand for bundled services and enhancements. He observed, “For consumers it’s all about convenience: their desire to have access to what they want, when they want it.”
At the same time, equipment finance organizations are becoming more flexible, with employees working remotely, so they are attracting talent without geographic restrictions. “This digital age—of connecting people to your company—is where change is coming from and where the value is.”
Finally, Schaefer examined the third prong of the convention theme: What it means to excel for your employees, your companies and your customers.
He stressed that continuous improvement should be the top priority. “As individuals we should be constantly learning, looking for other successful people and watching what they’ve done,” he advised. He added that leaders need to learn how to get out of the way, to delegate and to allow others to grow.
Focusing on the customer is key, said Schaefer, emphasizing that companies need to offer quality products, deliver a great customer experience, provide value and anticipate the customers’ needs. “We have to be thinking about new products and solutions in advance of the customer even knowing he or she needs them,” he said.
He concluded by noting that the equipment finance industry touches every aspect of the economy. “We provide the capital that drives supply chains across every industry. We enable companies to acquire equipment and employ individuals, so they can support their families and their communities. The healthy flow of commerce and capitalism is good for our communities—and it’s good for our country. I hope you think about the value we create, and that you’re proud to be a part of that.”
From a Broker to a Lessor
As a successful commercial equipment finance broker you’ve mastered the ins and outs of the industry, fine-tuned your skill set, and built a well-oiled broker business. But beyond reaching scalability and expanding your company, what other avenues offer the potential for new revenue streams? If you’re considering becoming a lessor, you may be on the right track to do more for your customers and earn additional revenue from holding your own portfolio.
There are several benefits to holding your own portfolio. Your lease and loan contracts can provide a more predictable revenue stream and will help secure income during economic downturn when brokering is more difficult. Holding your own portfolio also lets you manage the customer experience, guiding end-user relationships to drive repeat business. But most importantly, portfolio servicing helps you build historical performance data on which your business will be evaluated if you ever want to accept outside funding.
David T. Schaefer, CEO Orion First, to Speak at 2018 European Leasing & Consumer Credit Convention
Venice, Italy—Founder and CEO of Orion First and Mintaka Financial, and Chairman of the Board of Directors of the Equipment Leasing & Finance Association (ELFA), David Schaefer will be a panelist at the 2018 European Leasing and Consumer Credit Industry Annual Convention in Venice, Italy.
Following the first session’s presentation, titled “Leasing in Europe and Beyond - State of Play and Outlook,” David Schaefer will sit on an interactive panel of industry leaders sharing their views on the state of the European leasing and automotive rental markets. As the current Chairman of the Board of Directors of the Equipment Leasing and Finance Association (ELFA), David brings an American perspective to the conversation; providing insight into the current opportunities and challenges being tackled across the pond in the US finance and equipment leasing markets.
“Similar to the US finance industry, overseas capital markets have seen exciting innovation from disrupters like FinTech, blockchain technologies and much more-making an international meeting of the minds such as this a very valuable opportunity at this time,” said David Schaefer. “I am honored to be on the panel at this year’s annual convention to share my experience and help unite the US and international capital markets while preparing them for upcoming change.”
Taking place October 4-5, the Annual Convention will host over 400 executive and board level participants from leasing, automotive rental and consumer credit communities across Europe and beyond. Held at the Hilton Molino Stucky, the Annual Convention provides the opportunity for leaders across these financial markets to network, and uncover new methods of improving and guiding their industries.
Additional topics covered at the convention include analyzing industry trends, optimizing leasing operations, dealing with non performing loans (NPLs), increasing access to affordable capital, efficiently managing the cost of risk, and facing the current challenges to prepare for tomorrow.
For more information on the convention visit: https://www.annual-convention.eu/
Orion First Surpasses $1 Billion Under Management
Gig Harbor, WA: Orion First announced today that it has surpassed $1 billion in assets under management. The assets under management consist of small business commercial loans and leases for which Orion provides all the back-office portfolio management and servicing duties on behalf of its clients. This is a significant long-term goal achieved by Orion First, who has been in the commercial loan, lease and contract management space since 2001.
“We are proud to celebrate this milestone because Orion has worked hard for our position in the industry and we are honored by the level of trust our clients place in us,” said David T. Schaefer, Co-Founder and Chief Executive Officer of Orion First. “Passing $1 billion under management is a true testament to the strength of our team and demonstrates the value we strive to deliver. Be it by providing transparency through our client portal, by improving risk assessment through our proprietary scoring tool, SAIPH™, or by offering unmatched portfolio management services, Orion will continue to lead the small business lending industry in risk management.”
ABOUT ORION FIRST:
Orion First is the leading full-service commercial loan and lease portfolio servicer which provides a suite of services and products to manage the complete life cycle of a borrower. Orion has built a servicing platform that includes systems to support lease and loan accounting, credit application processing, scoring and decisioning products, and collection management.
Orion First is committed to serving those who fund small business by protecting their investments and portfolios from initial engagement to payoff. Orion is, to its core, a manager of risk in the small business lending marketplace. Our goal is to empower clients by taking care of the details so that they can focus their entrepreneurial energy on their largest value– funding small business.
Join Orion First at the ELFA Annual Convention
Join Orion First and ELFA Chairman Dave Schaefer at the ELFA 57th Annual Convention, October 14-16! Coming to beautiful Phoenix, AZ the ELFA Annual Convention is an unmatched opportunity to Evolve, Emerge and Excel your equipment leasing and finance business!
Click here for more info: apps.elfaonline.org/events/2018/AC/