• Nominee and Finalist of the 2014 San Diego Business Journal CFO of the Year Event

    Innovative Lease Services is honored to be selected as a Nominee and Finalist for this years, 2014 CFO of the Year by San Diego Business Journal.

    As it’s 8th annual year, the program selects CFO’s and Financial Managers from all business sectors across San Diego City and County.

    Nominated Businesses are honored and selected based on their fiscal leadership, diligent oversight, and the positive impact they have on their organization as a whole.

    The award ceremony took place late March at the Paradise Point Resort and Spa in San Diego, California. Jan Jamison (President), Nora Nere (VP of Operations) and Neil Clark (VP of Sales) attended the event to accept the Finalist Award. The event was sponsored by California Bank and Trust, Cox Business, CBIZ/MHM and Intercare Insurance Solutions.

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  • A Taste of Success by Neil Clark

    Written by Neil Clark, VP of Sales, Innovative Lease Services, Inc. – Issued in “Member Line” of Newsline by Nefa, January/ February 2014, Volume 6

    Being a self- proclaimed “foodie” and lover of all drinks, I had always had thought opening a restaurant would be wonderful opportunity. In 2007, I recall Rachel, one of my best friend’s (and now business partner of 7 years) driving by this old restaurant building that was for sale in Nashville Tennessee. We looked at each other and said “Let’s do it”.

    Being in your early thirties, taking on anything and everything seemed like such a great idea. We were both working full time jobs so why not just whip up a restaurant and add a side venture to the mix? My visions of restaurateur grandeur shifted as soon as we bought the building. Being that we had never been involved in the reconstruction of a home, rehabbing a kitchen, or even assembling a doll house from Toys-R-Us, we were certainly in for a real education. We were under quoted on the construction costs of the building. We were given false hope on the timelines to rehab the building. We didn’t even think that the city has to stop by and to approve or disapprove of the rehab in stages. Needless to say, a project that was expected to take three months to complete turned into a frustrating thirteen months. It all seemed so easy on HGTV! Being so heavily involved in the construction aspect, we realized about 2 weeks prior to opening that we needed to hire an entire staff and get a menu together. Oops!

    After all of the hiccups, we finally open in March of 2008, and then the economy took the worse turn I had seen in my lifetime. There we were, ready for business, and our potential customers were losing their jobs and watching their retirement accounts disappear. Rachel and I immediately shifted from frustration to panic. I had never experienced that kind of panic before and felt helpless. Thank goodness, I was blessed with a business partner that shared the same thoughts on needing to come up with the solutions to overcome folding, as many of our business neighbors did during that time. We explored and took on all viable options that lead to a solution from re-organizing our debt, to revising our menu, dealing with suppliers that were calling for payment, to the tax office threatening to put chains on our doors.  Rachel and I were shaken to the core. Reflecting on it now, I found the earth shattering experience to be one that unknowingly (at the time) to be a character-builder. We learned how to operate in an economy that I only heard my grandparents compare to the “crash of 1929”.

    The experience has helped us grow in ways that cannot be described. After now being open for over 5 years, the sense of relief has turned to gratitude for the experience. We’ve become more open-minded, business savvy, and left with the sense that if we can get through that experience, we can get through just about anything. Experiencing obstacles are to be expected in life, but how you choose to overcome them can make you a stronger person. Trying, and succeeding, is the most valuable lesson learned here.

    Check Out Mad Donnas for yourself! 

     

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  • Small Business Spotlight

    Small Businesses Borrowing More

    Article from NBC NEWS:

    Good Sign for Economy: Small Business Borrowing Rises – In good sign for the economy, small business borrowing rose to its highest level in almost seven years in December, an index shows.

    U.S. small businesses boosted borrowing in December, pushing a broad lending index to its highest level in nearly seven years and signaling that economic growth may continue apace in the early part of this year.

    Small companies typically take out loans to buy new tools, factories and equipment, so more borrowing can be an early signal of increased hiring ahead.

    The Thomson Reuters/PayNet Small Business Lending Index, which measures the volume of financing to small companies, rose to 121.6 in December from an upwardly revised 114.6 in the prior month, PayNet said on Tuesday.

    That was the highest level since March 2007, the data showed, and was up 5 percent from a year earlier. A rise in the index is historically correlated with stronger U.S. economic growth a quarter or two in the future.

    “We are fairly optimistic there will be some growth coming at least from the small business portion of the economy,” PayNet founder Bill Phelan said.

    — Reuters, http://www.nbcnews.com/business/economy/good-sign-economy-small-business-borrowing-rises-n21736

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  • Introducing Inventory Finance

    January 28, 2014 – A leading provider of small business financing has launched a new innovative financing solution. Catering specifically to retail businesses, manufacturers, dealers, and commercial suppliers Innovative Lease Services, Inc. (ILS), now offers Inventory Finance.

    The ILS Inventory Finance product is the solution for the 80% of businesses who are under-served by traditional banks;

    ▪ Businesses that need to maintain high levels of inventory

    ▪ Companies with a high inventory turnover

    ▪ Retailers or Distributors with seasonal cash flow fluctuations

    ▪ Manufacturers wishing to take advantage of raw-material volume discounts

    ▪ All Companies seeking to expand product lines and offerings What separates the ILS Inventory Finance program from other programs available in the market is the convenient and flexible payment arrangements. ILS offers the option of having the funds transferred directly into the business’ bank account, or we can pay the business’ inventory supplier directly. Best of all, the repayment terms match the business’ sales cycle, thus repayment occurs as revenues are received.

    “By providing Inventory loans to small retailers, manufacturers, and distributors, we are filling a much needed void left by the banks. The majority of businesses who are under-served by traditional bank lending now have a resource to help grow their businesses. Most importantly, we can deliver funds up to $250,000 within 3 business days of application. We are the only provider in the market that we know of who can support small businesses in this manner.” – Andrew Nere, CEO of ILS.

    For more Inventory Finance information visit the ILS Website or contact Innovative Lease Services, Inc. Marketing Coordinator, Angela Caraglio, by email angela@ilslease.com or phone 800.438.1470.

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  • ILS News

    The ILS Website has Undergone a Facelift

    Innovative Lease Services, Inc. Launches New Website and Introduces of New and Unique Inventory Financing Program for Small Businesses

    Carlsbad, California – January, 2014 – – Innovative Lease Services, Inc. (ILS), a leading provider of commercial equipment financing and working capital for businesses in the US and Canada, has announced the launch of their new and improved website. With a new streamlined responsive design, the ILS site offers easy access and readability on all mobile, tablets and desktop devices.

    Additionally, the site introduces a brand new product targeted specifically for those businesses with inventory financing needs; retail business, dealers, distributors, suppliers and manufacturers. The new and novel ILS Inventory Finance program provides financing for inventory through all sales cycles and seasonal demands.

    Andrew Nere, CEO of ILS adds, “With the addition of the new Inventory Financing program, ILS provides a much needed financing tool for American and Canadian Small Business owners. By providing Inventory loans to small retailers, manufacturers, and distributors we are filling a much needed void left by the banks. The 80% of businesses who are under served by traditional bank lending now have a resource to help grow their businesses.”

    The new site serves to act as resource for small business owners, helping them navigate the varied financing products available in the market. Each of the ILS programs are explained in detail along with their respective benefits. The quick application process ensures the customer’s ability to apply for the program they need in real time.

    For more information please contact Innovative Lease Services, Inc. Marketing Coordinator, Angela Caraglio by email angela@ilslease.com or call 800.438.1470.

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  • ELFA Forecasts the Following Top 10 Equipment Acquisition Trends for 2014

    The Equipment Leasing and Finance Association (ELFA) which represents the $827 billion equipment finance sector, today revealed its Top 10 Equipment Acquisition Trends for 2014. Given U.S. businesses, nonprofits and government agencies will spend in excess of $1.5 trillion in capital goods or fixed business investment (including software) this year, financing more than half of those assets, these trends impact a significant portion of the U.S. economy. Businesses will need to consider a dynamic environment of economic growth, wider credit availability, and favorable interest rates in their equipment acquisition decision-making.

    1. Investment in equipment and software will reach an all-time high in 2014. As the U.S. economy and underlying economic fundamentals, including GDP, continue to improve, business investment is forecast to reach a record $1.5 trillion in 2014.

    2Equipment replacement demand will continue to drive investment. Stronger economic growth will boost businesses confidence and appetite for capital expenditures, but overall, equipment already in place can be used at a higher capacity. Until businesses find they need to expand their capacity to meet operational demands, their equipment investment will be in replacing existing aging or obsolete equipment.

    3. Demand for equipment financing will increase due to greater stability in the federal budgeting process. Businesses will enjoy a greater level of comfort than they have in recent years to make their equipment acquisition decisions for 2014. The two-year budget agreement passed by Congress reduces fiscal pressures and lessens the chance of a potential government shutdown, while a rising tide of economic growth will lift all boats. As equipment acquisitions increase, so will businesses demand to finance them. 

    4The global economy will play a part in the big picture impacting businesses’ equipment acquisition decisions. The lack of long-term breakout growth and expansion on in equipment acquisition has some of its causes beyond U.S. shores. External factors like the stagnant Eurozone, foreign oil prices and the cooling of a hot Chinese economy, which have combined to impede growth, will continue in 2014.

    5Rebounding of some industry sectors will spur varied equipment types. Growth in investment is forecast for numerous equipment types, some of which will be the result of increased activity in the housing and energy sectors. The rebounding housing industry will have spillover effects on equipment verticals, including construction as well as trucking and rail transportation to ship home building supplies. Manufacturers plans for billions of dollars in investments to take advantage of cheap, rapidly expanding U.S. supplies of oil and natural gas will expand production capacity for energy and downstream products, such as petrochemicals and plastics, and increase demand for industrial equipment.

    6. A majority of U.S. businesses will use some form of financing for equipment acquisition. In 2014, investment in plant, equipment and software in the United States is projected to reach $1.5 trillion, of which 57 percent ($860 billion) is expected to be financed through loans, leases and lines of credit, a slight uptick from 55 percent in 2013. In a continuing trend, seven out of 10 businesses will use at least one form of financing to acquire equipment.

    7. Credit market conditions will remain favorable for long-term equipment financing. In a continuing trend from last year, businesses will generally find an increasing credit supply as they consider equipment acquisitions.

    8. A low short-term interest rate environment will continue, while long-term rates will rise but remain below the historical average. Businesses that want to conserve cash and take advantage of the many other benefits of financing their equipment acquisitions can look forward to the prospect of continued low short-term interest rates until 2015. Although the Federal Reserve’s policy agenda for 2014 will likely result in a rise in long-term interest rates, inducing some companies to lock in lower rates, they will remain low enough by historical standards to keep financing an attractive option for acquiring equipment.

    9. Technology innovations will continue to improve the customer experience. While demand for software and technology equipment is expected to remain strong, equipment finance companies will use technology to optimize their delivery and fulfillment systems around customer service. They will meet a growing demand for cloud and mobile technology as well as access to real-time company data and business intelligence.

    10. Long-awaited changes to the lease accounting standard will continue to be debated. A new draft of proposed lease accounting changes issued by the Financial Accounting Standards Board and the International Accounting Standards Board issued in 2013 generated substantial opposition for being too burdensome and complex. As a result, the Boards will continue re-deliberations into 2014 and will conduct additional meetings to address concerns before changes are adopted.

    More Information
    For businesses that want to learn more about how they can incorporate equipment financing into their business strategies, and for informational resources about equipment financing, including a digital toolkit and Infographic, go to www.EquipmentFinanceAdvantage.org.

    For forecast data regarding equipment investment and capital spending in the United States, see the Equipment Leasing & Finance Foundations 2014 Equipment Leasing & Finance U.S. Economic Outlook at www.leasefoundation.org/IndRsrcs/EO/.

    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 580 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.

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