Championing Equipment Finance within Banks
July 23, 2024
The Monitor 100 rankings published last month revealed what we predicted in our 2024 Insights report: banks have significantly pulled back their role in equipment finance as a result of the fallout of the bank failures of spring 2023. But as Alta’s Rick Remiker notes, the equipment finance business line holds important long-term value for banks and is worth defending.
Remiker offers advice on how to do that in the current climate in an article published in the Monitor 100 issue that is an important read for anyone working within a bank-based equipment finance unit.
How will EaaS impact equipment finance?
A growing appetite among end users for offerings that wrap comprehensive support and services around an underlying asset is driving increased interest in Equipment-as-a-Service models. Alta’s Diane Croessmann recently sat down to discuss the implications of EaaS on the equipment finance industry on the Equipment Leasing & Finance Foundation’s podcast. She shares insights on what is driving demand for EaaS offerings, challenges to profitability under this model and what role traditional equipment lessors and funding organizations can play as this trend evolves.
Sizing up the climate finance opportunity
The market for climate-focused equipment is growing, as the incentives contained in the U.S. Inflation Reduction Act (IRA) begin to drive deals in the solar and energy-efficiency categories.
Following up on her work on a recent Equipment Leasing & Finance Foundation research report that offers a roadmap to market entry in this growing sector, Alta’s Patricia Voorhees authored an article in the Spring 2024 edition of the Journal of Equipment Lease Financing.
The article takes a deep dive into opportunities in solar, energy-efficiency and e-mobility equipment. The transition to net-zero emissions is expected to drive annual global investment of $9 trillion through 2030.
Read the journal
Alta Advisors Recognized for Contributions to the Industry
The Alta Group congratulates two advisors on recent recognition at industry events.
Paul Bent, Senior Managing Director and leader of Alta’s Legal Services practice, received the Equipment Leasing and Finance Association’s Edward A. Groobert Award for Legal Excellence at the ELFA Legal Forum in May in Scottsdale, Ariz. The award recognizes Bent’s “significant contributions to the association and the equipment finance industry,” according to the ELFA release.
David Wiener, Managing Director, was awarded the MVP Behind the Scenes Award at Monitor Converge in Philadelphia in May. The award recognizes Wiener for his work to support the creation of best practices in his area of expertise. David is known within the industry for his expertise in sales, credit and capital markets and syndication. Learn more about the Converge awards here.
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