Changes expected for commercial equipment finance sector.

Press Release Summary:



Conducted by Financial Institutions Consulting, 2008 State of the Equipment Finance Industry study will reveal how current economic environment will impact paradigm of $650 billion commercial equipment finance sector, which contributes nearly 4.5% to GDP. It will also give insight into how access to capital is affecting Main Street businesses. Teleconference will take place on Thursday, October 2, from 10:30-11:30 a.m., EST followed by Q and A session with industry CEOs.



Original Press Release:



Seismic Shift Expected for $650 Billion Equipment Finance Sector



WHAT: The 2008 State of the Equipment Finance Industry reveals how the current economic environment will impact the paradigm of the $650 billion commercial equipment finance sector which contributes nearly 4.5 percent to the GDP.

The Equipment Leasing and Finance Association, a trade association representing financial services companies and manufacturers, and its affiliate the Equipment Leasing & Finance Foundation will announce findings from a new study, 2008 State of the Equipment Finance Industry, conducted by Financial Institutions Consulting (FIC).

A confluence of macroeconomic issues, including the subprime mortgage meltdown, the collapse of the credit and default swap markets, the continuing decline in real estate values, and the volatility of energy and commodity prices have significantly changed the game for the equipment finance business. The 2008 State of the Equipment Finance Industry addresses those changes and gives insight into how access to capital is affecting Main Street businesses.

WHEN: The teleconference will take place on Thursday, October 2, from 10:30 a.m. to 11:30 a.m., EST. Following the brief presentation by experts will be a Q&A session with industry CEOs.

WHO: Equipment Finance Industry CEOs available for comment/interview:

James J. Ambrose, President, Equipment Finance, GE Healthcare Financial Services and ELFA Chairman-Elect

The Honorable Kenneth E. Bentsen, Jr., President and CEO, Equipment Leasing and Finance Association

Michael Leichtling, Partner, Troutman Sanders LLP and Chairman, Equipment Leasing & Finance Foundation

William H. Verhelle, CEO, First American Equipment Finance and ELFA Chairman

Charles Wendel, President, Financial Institutions Consulting, Inc. (FIC)

WHERE: VIA Telephone Conference Call. To receive briefing materials, please contact Diane Helyne Zyats at dzyats@elfaonline.org or 202.238.3438. Dial-Instructions will be forwarded by request.

The Equipment Leasing and Finance Association is the trade association that represents companies in the $650 billion equipment finance sector which includes financial services companies and manufacturers engaged in financing the utilization and investment of and in capital goods. Please visit http://www.elfaonline.org/pub/about/

The Equipment Leasing & Finance Foundation is the only nonprofit organization dedicated to providing future-oriented research about the equipment leasing and finance industry. For more information please visit: www.LeaseFoundation.org

FIC, a management consulting firm, focuses on providing strategic advice to the financial services industry worldwide.

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