Tony Sedlacek joins Orion First as Senior Vice President of Portfolio Management
GIG HARBOR, WA – Orion First announced today that Tony Sedlacek has joined Orion First as Senior Vice President of Portfolio Management.
“We are excited to add Tony Sedlacek as an official member of our Orion First leadership team,” said David T. Schaefer, CEO of Orion First. “Orion has had a long standing relationship with Tony and are pleased to have him join us and guide our Portfolio Management division. I know that his management experience and overall business acumen will bring true value to future endeavors here at Orion First.”
“Focused on a true personal touch, the skilled staff at Orion treat their clients like family and promote their success at every turn,” noted Tony Sedlacek. “I look forward to officially joining Orion and the service oriented, results driven team.”
Management and sales are just the tip of the iceberg when it comes to the valuable experience that Tony brings to Orion First. With nearly 30 years working in the lending industry, Tony has a broad range of experience in business finance including workout negotiation, loan restructure, asset recovery and contract enforcement. His skills and experience in enforcing leases and loans for commercial equipment will bring added depth to the Orion First team.
Disaster Averted: Orion First Announces Partnership with Agility Recovery
GIG HARBOR, WA
Orion First is pleased to announce that it has partnered with Agility Recovery, a national leader in disaster recovery solutions. Membership with Agility provides Orion First with Agility’s unique ReadySuite solution, which ensures priority access to the four key elements of recovery including temporary power, access to Internet and telephone connectivity, computer and office equipment, and temporary office space. Agility Recovery will work with Orion to institute disaster preparedness planning and, in the event of disaster or business interruption, provide the assistance needed to continue operations.
“The implementation of a disaster recovery plan demonstrates a commitment by Orion First to ensure they are prepared for any event,” says Paul Sullivan, General Manager at Agility Recovery. “We understand that organizations must be there to serve their stakeholders – no matter the circumstances, and Agility helps make that possible,” he continued.
Agility has over 26 years of experience rescuing organizations of all types and proudly points to a 100% success rate.
“Partnering with Agility Recovery is a necessary and prudent step that makes Orion First a healthier and more secure organization,” maintains Paul Marcoe, CTO at Orion First. “We aim to provide our clients with unparalleled protection and responsiveness and a partnership with Agility reaffirms our promise to be the very best.”
Orion employees are also provided access to my Agility Family, a personal & family disaster planning tool provided free of charge to each employee that helps them become better prepared at home and more likely to be available to return to work following an event.
ABOUT AGILITY RECOVERY
Agility Recovery, a former division of General Electric, is North America’s premier provider of business continuity and disaster recovery solutions to organizations of all types. Agility provides robust and easy-to- implement recovery solutions for an affordable monthly membership fee, providing access to temporary power, office space, communications and computer systems. For more than 26 years, Agility has rescued thousands of organizations, with a 100% success rate. For more information, visit www.agilityrecovery.com or call 866-364- 9696.
AltLend Summit 2016 - 15% Discount with Sponsor Code FSM400
As a Gold sponsor of AltLend, Orion First is able to offer an exclusive discount code to our guests who would like to attend the conference.
This two-day event will host investors, bankers, platforms, and thought leaders from across the globe as they discuss trends, opportunities, and obstacles in small business lending.
• Hear directly from banks, investors, and trend-setting lenders in small business lending.
• Find out what new technologies will further disrupt this space. Hint: it’s more than just automation and an online presence.
• Discuss key aspects of securitization and learn how private equity, venture capital, and hedge funds are all viewing the space.
Use promo code FSM400 when registering and instantly receive 15% off your ticket. Please feel free to share this code with your friends and colleagues.[/vc_column_text]Register for AltLend
Orion's CEO, Dave Schaefer will lend his expertise to the speaking panel:
"Underwriting: How has Innovative Underwriting Performed?"
It's time to discuss alternative underwriting and determine weather or not it's been a real success. Have lenders been successful with their implementations? What new changes are being incorporated to better identify competent borrowers?
AltLend Summit 2016 promises to provide a highly specialized space for the exchange of ideas and opportunities between investors, banks, and industry thought leaders and heavy-hitters.
We hope to see you at AltLend!Learn More About AltLend2016
Dave Schaefer Featured Panelist at LendIt USA
Orion has been attending, and a part of, the LendIt USA conference for the past few years now. According to the LendIt website, “It is the largest conference series dedicated to connecting the global online lending community.”
This year, Orion is a proud sponsor of the LendIt conference – and our very own Dave Schaefer will lend his expertise to a speaking panel entitled "The Leading Loan Servicers for Online Lending." This year’s conference will be held in San Francisco, on April 11th and 12th, at the Marriott Marquis. Being that LendIt is always pushing the envelope and growing every year, it may well be one of the biggest events in online lending’s history.
Bringing together leaders and innovators in the global online lending space, LendIt 2016 provides opportunities for education, networking and business development. Featuring six different tracks, nearly 400 speakers and 250 breakout sessions – Lendit is, without a doubt, the place to be if you’re a part of this rapidly growing marketplace or have any interest in the latest lending innovations.
As a silver sponsor of LendIt, Orion First is able to offer an exclusive discount code to our guests who would like to attend the conference. Please use the promo code ORIONUSA16VIP when registering and you’ll instantly receive 25% off your ticket. Please feel free to share this code with your friends and colleagues.
We hope to see you at LendIt!
Paul Marcoe joins Orion First as Chief Technology Officer
GIG HARBOR, WA – Orion First announced today that Paul Marcoe, formerly Vice President Information Systems & Security at Financial Pacific Leasing, has joined Orion First as Chief Technology Officer.
"Mr. Marcoe is a great addition to the Orion First leadership team,” said David T. Schaefer, CEO of Orion First. “Paul is a talented Information Technology executive with proven industry experience. His robust skillset, numerous successful projects managed and overall IT vision make him a perfect fit to lead technology initiatives here at Orion.”
“The experienced staff at Orion delivers significant value to their customers,” added Paul Marcoe. “I’m thrilled to add my years of IT and financial services experience to Orion’s wealth of industry knowledge. I’m looking forward to working as a team to bring new technology to market that will further deliver value to Orion’s customers.”
A graduate of Western Washington University, Paul Marcoe is a seasoned IT executive with an extensive and balanced background ranging from Operations and Project Management to Information Security. For over 20 years, Mr. Marcoe has managed and maintained many aspects of Financial Pacific Leasing IT strategies while also spearheading the direction and development of several campaigns to update and improve internal systems.
Remembering Our Dear Friend and Colleague
The equipment finance community recently lost a great one.
Shannon Green spent her professional life in our industry. Her distinguished tenure includes 16 years with Financial Pacific Leasing and over 12 years with Orion First Financial. As a senior leader for both companies, her influence was felt by everyone fortunate enough to have known her–co-workers, industry peers, and clients alike. Mrs. Green stressed collaboration, integrity and fun–she was the embodiment of these core values for both companies. Besides being an influential leader and motivator, Shannon was an empathic and nurturing person towards all. Her management style was one of empowerment–enabling those around her to flourish in their jobs, grow their careers, and be solid contributors within their organizations. Even those who only briefly met her could sense these intrinsically positive qualities about Shannon.
Mrs. Green’s contributions to the industry were impactful. After becoming a Certified Lease & Finance Professional in 1999, she helped promote her organization by mentoring many future CLFPs––contributing to its body of knowledge, and serving on the CLFP Board of Directors. Shannon also actively participated in the Equipment Lease & Finance Association (ELFA) and the National Equipment Finance Association (NEFA) serving on panels, participating in session presentations, and spearheading annual ELFA LeasePAC company campaigns. Most notably, it was Shannon’s passion for promoting women in leasing that many will remember her for most. She helped encourage many young women who have gone on to become leaders––thanks to her mentorship and demonstrated passion within this industry.
Shannon lost a sudden and swift battle with cancer on December 25th ––leaving behind a husband and two children.
Celebration of Life
In addition to her friends and family services, Orion First will host an open house style remembrance. Anyone who knew Shannon and wants to come share stories with others are encouraged to attend.
Thursday, January 21st
4pm to 7pm
Pacific Grill Event Center: Pearl Ball Room
1530 Pacific Avenue, Tacoma, WA 98402
In lieu of flowers, the family has asked that you donate to your local cancer society to help find a cure for this devastating disease.
We encourage you to share your fondest memories and stories about Shannon by signing her guestbook here.
2015 SMALL BUSINESS LENDING FORUM
DRAWS BIG MINDS & IDEAS
2015 Small Business Lending Forum in Review
August 10, 2015; Orion First Financial hosted their annual Small Business Lending Forum in the beautiful Foss Waterway Seaport in Tacoma, WA. This year’s assemblage of 92 influential industry leaders, speakers and lenders sought to instill and create a unique synergy. Orion First Financial’s CEO, David Schaefer, opened with his remarks and outline for the day. Additionally, Washington’s 6th Congressional District representative, Derek Kilmer spoke on topics related to small business lending, the government’s influence and our role in improving the future of small businesses as a whole – because as he put it, they are “the backbone” of our nation.
The keynote speaker, Bill Stainton spoke on the dynamics of management and how specific techniques yield different results in a team environment; an important consideration to small business lenders as they lead their business’ through change. Ralph Petta, COO of the ELFA (Equipment Leasing and Finance Association) reviewed the sheer size, importance and impact small businesses make in America today, with additional focus on their direct correlation to national fiscal health. Next, the Panel, moderated by Bob Rinaldi (CEO of Commercial Industrial Finance) and alternative lending leaders, Robert Peterson (Senior Vice President at Route 66 Ventures, LLC), Tabitha Creighton (Co-Founder and CEO at InvestNextDoor) and Brij Patel (President at Alliance Funding Group and co-founder of Quick Bridge Funding) discussed an expansive array of topics and questions. The Panel shed valuable, first-hand experiences, insight and opinion on new trends in market lending practices and what could be done to improve the industry. The audience also engaged in a Q&A with the panelists.
David Schaefer’s closing remarks focused around the importance of overcoming hurdles in the small business lending industry – as a team. Small businesses in our country and the world are essential to innovation and organic growth. A more proactive focus on providing and developing solutions to enable their success results in a better climate for everyone. The evening ended aboard the yacht, Emerald Star, and cruised past Tacoma’s iconic waterfront towards the Narrows Bridges, returning during a beautiful Pacific Northwest sunset cast upon Mt. Rainier. For many, the cruise was a chance to unwind, shake hands and enjoy the company of other industry professionals, united under one goal: improving access to capital for small businesses.
Orion First Financial (@OrionFirst) is a portfolio services management leader in the small business lending marketplace. Orion specializes in underwriting, contract servicing, commercial collections, and strategic advisory services to those originating loans in the SMB market. As a multifaceted and innovative company, Orion can effectively engage with Alternative Lenders, Leasing Companies, Equipment Vendors/Manufacturers, Banks and Financial Institutions. Orion’s skilled team, efficient technology platform and best practices approach, generate exceptional industry performance metrics that translate into better profits, less stress and enriched customer relationships for their clients.
AUTOMATED UNDERWRITING: STRENGTHS AND WEAKNESSES
A recap on Dave Schaefer's recent discussion at AltLend in NYC.
Strengths, weaknesses and moving forward with consistent lending practices in a digital age - these were the topics of discussion from Dave Schaefer, CEO of Orion First Financial during the AltLend conference in NYC.
Inconsistency in completely manual underwriting is a real issue, which can potentially jeopardize either party involved. To curb this, Schaefer advocated an automated underwriting system to create consistency when assessing risk and other factors - as long as there’s still a human at the helm. “I like eyes on a deal,” he said, and continued, “We’ve got guarantors that have nothing to do with the business,” as he cited an example of an applicant with poor credit, whose 80 year old father, with great credit, portrayed himself as a young construction worker. “I’m still a big believer in the review and subjectivity.”
It may sound convoluted and impartial, but the context is quite clear. Like most speakers at AltLend, Schaefer is in favor of using an automated system to reduce risk, as utilizing a system to objectively “weed out” the bad deals, would allow a human underwriter more concise parameters to review each request and make the most accurate determinations possible.
While there are some companies who rely heavily on applicant filtering with automated technologies, there will always be people involved. Finding the optimal balance between the two is driving the crusade in search for an automated system’s “perfect tune” - the proverbial holy grail.
The other side of the scenario? People often make mistakes, whether intentional or unintentional. Schaefer has seen first hand the favoritism of biased lending as he experimented a few years back, when he submitted the same loan application to 6 underwriters. He received 3 approvals and 3 denials, which made it clear that reliance on subjectivity had to be balanced with objective policies, procedures and protocols - perfect for a machine.
While the concepts may be simple, the technicalities, technology, systems, policies, procedures and other unforeseen obstacles make an undertaking such as this a noteworthy challenge.
A recent article published in DeBanked covers more on this topic, other guest speakers and related topics from this year’s AltLend conference:
Click here to read article on Debanked.com
30 YEARS OF RAISING THE BAR: DAVE SCHAEFER ON THE BENEFITS OF CLFP DESIGNATION
Along with First American Equipment Finance’s Bill Verhelle and Dave Schaefer of Orion First Financial and Mintaka Financial, spoke with Monitor to discuss the benefits of the CLFP designation in the equipment leasing and finance industry — and why advocating it at all levels of an organization is key to the Foundation’s continued growth.
You can read more about Dave’s thoughts on the benefits of CLFP designation by clicking the link below. This article was published in the May/June 2015 issue of the Monitor.
Click the image to the left to download a PDF
of Dave's article from the Monitor or
CLICK HERE to read the article online.
“It’s a general certification. It’s not a single discipline. That’s the value of the certification: it’s a very broad body of knowledge. If you are in underwriting, you might know underwriting really, really well, but you might not know collections or accounting. That’s why the certification is valuable; it’s to make sure you have a broad body of knowledge.”
ORION TO PROVIDE PORTFOLIO MANAGEMENT SERVICES FOR JOULE ASSETS
GIG HARBOR, WASH. - Orion First Financial, LLC has begun servicing contracts for Joule Assets, a New York-based company that delivers financing solutions for energy efficiency (EE) and demand response (DR) initiatives and projects through the creation of Energy Reduction Assets (ERA). Joule Assets seeks to bring a new level of transparency and easily accessible information to the EE and DR marketplace while simultaneously stewarding growth in this exciting industry. Orion is pleased to announce that it will provide billing and collecting, front-end collections and commercial collection services for Joule Assets.
"Orion's commitment to creating value and profitability for the finance industry has enabled them to take proven and unique methods to their service technology. We believe that it’s the best on the market, and look forward to the collaboration,”said Dennis Quinn, COO and co-founder of Joule Assets. We’re very excited to provide portfolio management services for a visionary group such as Joule Assets. Their objectives and initiatives in funding energy efficiency and automated demand response technologies in the rapidly expanding small and medium commercial market are a testament to their technology platform, expertise and drive. We are truly humbled to work with such an amazing and forward-thinking group of people,” said Shannon Green, President of Orion First Financial.
About Orion
Orion First Financial (@OrionFirst) is a portfolio services management leader in the small business lending marketplace. Orion specializes in underwriting, contract servicing, commercial collections, and strategic advisory to those originating loans in the SMB market. As a multifaceted and innovative equipment finance company, Orion can effectively engage with Alternative Lenders, Leasing Companies, Equipment Vendors/Manufacturers, Banks and Financial Institutions. Orion’s skilled team, efficient technology platform and best practices approach, generate exceptional industry performance metrics that translate into better profits, less stress and enriched customer relationships for their clients. For more information about Orion First Financial, LLC please go to www.orionfirst.com.
About Joule Assets
Joule Assets (@JouleAssets) is a smart grid software and investment company focused on facilitating commerce in Energy Reduction Assets (ERAs). To find out more please visit www.jouleassets.com.