Press Release

 

05 15 2014

05 15 2014

National Funding CEO David Gilbert Panelist at ELFA/IMN Investors Conference

National Funding CEO David Gilbert was a panelist at the recent one-day ELFA/IMN Investors Conference held in New York City. The session, “New Products and Trends Emerging in Our Sector,” was designed to educate investors on an array of trends in the equipment finance industry.

The 13th Annual Investors Conference on Equipment Finance was hosted by the Equipment Leasing and Finance Association (ELFA) and the Information Management Network (IMN). Attendees included equipment finance professionals, institutional investors and service providers who support the industry.

As founder and CEO of National Funding, a small business financial services company, Gilbert brought his perspective to the discussion on what products and services are emerging in the equipment finance sector. Gilbert’s insights on current industry developments were based on what National Funding has experienced over the last five years of economic recovery. The session “New Products and Trends Emerging in Our Sector,” was moderated by Barbara Goodstein of Mayer Brown LLP. In addition to David Gilbert, panelists Ed Tamiso of Standard & Poor’s Ratings Services, Joe Franco of Genpact and Christian Haesslein from DZ Bank contributed their insight on the topic.

Ed Tamiso, an analyst at Standard & Poor’s Ratings Services, spoke about Trend #1: More commercial finance companies are issuing ABS for the first time. Gilbert covered Trend #2: Alternative lending sources are filling a small-business funding niche. According to Gilbert, alternative lenders are starting to finance customers who are buying equipment with nontraditional short-term working capital loans versus three-to-five year leasing agreements. In addition, he covered alternative funding products such as merchant cash advances, short-term business loans and peer-to-peer funding — which connects borrowers and lenders online. Joe Franco of Genpact covered Trend #3: Technology has “invaded” the equipment finance space, becoming a major competitive advantage.

“The Great Recession was a catalyst for the growth of alternative lenders offering nontraditional sources of working capital for small businesses. For example, at National Funding we offer both leases and daily payment loans,” said Gilbert. “These days, the market offers financing options that traditional banks don’t offer. One big outcome of the credit crunch was the development of new kinds of loans that help business owners manage their finances.”

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Terms & Conditions

General Acceptance

Any applications submitted electronically shall have the same force and effect as if the application bore an inked original signature(s). The above information, together with any accompanying financial statements, schedules, or other materials, is submitted for the purpose of obtaining credit and is warranted to be true, correct, and complete.

 

US Patriot Act:

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person and business that seeks a business loan. What this means for you: When you apply for a loan, we will ask for your business name, address, and Tax Identification Number. We will also ask for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver’s license or other identifying documents.

 

For Loan/Merchant Services:

The Merchant and Owner(s)/Officer(s) identified in the application (individually, an “Applicant”) each represents, acknowledges and agrees that (1) all information and documents provided to National Funding, Inc. (“NF”) including credit card processor statements are true, accurate and complete, (2) Applicant will immediately notify NF of any change in such information or financial condition, (3) Applicant authorizes NF to disclose all information and documents that NF may obtain including credit reports to other persons or entities (collectively, “Assignees”) that may be involved with or acquire commercial loans having daily repayment features and/or Merchant Cash Advance transactions, including without limitation the application therefor (collectively, “Transactions”) and each Assignee is authorized to use such information and documents, and share such information and documents with other Assignees, in connection with potential Transactions, (4) each Assignee will rely upon the accuracy and completeness of such information and documents, (5) NF, Assignees, and each of their representatives, successors, assigns and designees (collectively, “Recipients”) are authorized to request and receive any investigative reports, credit reports, statements from creditors or financial institutions, verification of information, or any other information that a Recipient deems necessary, (6) Applicant waives and releases any claims against Recipients and any information-providers arising from any act or omission relating to the requesting, receiving or release of information, and (7) each Owner/Officer represents that he or she is authorized to sign this form on behalf of Merchant.(8) I consent to receive direct mail, faxes, text-messages, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (9) this request is for business and not for consumer purposes.

 

For Equipment Services:

I hereby certify: (1) the information provided is true and correct, (2) you are hereby authorized to investigate all bank, credit, and trade references, and said references are hereby authorized to release any requested information to you or your nominee, (3) such authorization shall extend to obtaining personal credit profile in considering this application and subsequently for the purposes of update, renewal or extension of such credit or additional credit and for reviewing or collecting the resulting account, (4) this information may be transmitted by us to you and by you to underwriter(s) for the purpose of granting me credit, either electronically or manually, and that by submitting this application, I take full responsibility for transmission thereof, (5) I am over 18 years of age, (6) I acknowledge my rights under the Fair Credit Reporting Act, (7) I consent to receive direct mail, faxes, text-messages, and e-mails sent by National Funding and its affiliates for the purposes of transmitting account updates, requests for information and notices, and (8) this request is for business and not for consumer purposes.

 

Text Messaging:

By providing my wireless phone number to National Funding, Inc., I agree and acknowledge that National Funding, Inc. may send text and multimedia messages to my wireless phone number for any purpose. I agree that these text or multimedia messages may be regarding the products and/or services that I have previously purchased and products and/or services that National Funding, Inc. may market to me. I acknowledge that this consent may be removed at my request but that until such consent is revoked, I may receive text or multimedia messages from National Funding, Inc to my wireless phone number.

  
The Federal Equal Credit Opportunity Act prohibits creditors from discriminating against credit applicants on the basis of race, color, religion, national origin, sex, marital status or age (provided the applicant has the capacity to enter into the binding contract); because all or part of the applicant’s income derives from any public assistance program; or because the applicant has in good faith exercised any right under the Consumer Credit Protection Act. If for any reason your application for business credit is denied, you have the right to a written statement of the specific reasons for the denial. To obtain the statement, please write to National Funding Inc., 9820 Towne Centre Drive, San Diego, California 92121. Funding amount and credit approval is subject to a full credit profile review.