Industry Achievement

Deserve A Few Good Answers:

1. The NAELB stands for the National Association of Equipment Leasing Brokers. It was originally formed to promote the interest of equipment leasing brokers through education, advocacy, improved communication within the industry and the establishment of a standardized code of ethics for the membership and to serve as an example for the industry as a whole.

Many people do not realize that the regulatory difference between commercial and consumer agreements are as different as day and night. This means that many regulations that protect consumers, are not in place for the commercial side of the business. Given that there is less regulation in place, it becomes even more important to know who you are dealing with to ensure that you do not fall prey to the unethical behavior of some non member companies.

Every NAELB member promises to abide by the Code of Ethics when dealing with our clients and our suppliers. If a member is found to have broken the code, expulsion from the association is a very real possibility. To put it simply, if a member acts unethically in their dealings with you, you have a system in place to file your complaint, you have the power of recourse. When dealing with a non member, can you say the same thing?

As an NAELB member, expulsion would have very real monetary consequences. However, we believe that doing business the right way has very real positive consequences!

2. Every member of the NAELB promises to abide by the code of ethics. However, an NAELB member who has completed the BPB exam has proven their understanding of the code of ethics and demonstrated their ability to apply the principles of the code to every day business situations that they may encounter. It is one thing to promise to do the right thing; it is another to have proven that you have the knowledge to actually do it!

3. The Master Member designation is one that perhaps we are most proud of. Master Member status is neither bought nor achieved through an exam. It is a designation that must be earned over an extended period of time. When you meet an NAELB Master Member, you have met a person that has dedicated years of their life as a member of the associaton and served their industry peers through leadership. The NAELB Master Member designation is one of the quickest ways to recognize that you are dealing with a seasoned professional with a commitment to the leasing industry.

4. Why do people immerse themselves into leadership roles within their chosen industry? Why do we work to better ourselves and our industry when it would be much less work just to do our job, without the extra effort. During my five years of service on the Board of Directors of the NAELB, I have come to realize that we do it because we care, we do it because we want to see our industry operate at a level that we can be proud of, we do it because we believe we should offer our best to those we work with.

As a potential vendor or lessee who may be reading this message, it should matter because the fact is...there are some in this industry that do not operate this way, they do not share the values that you and I share. There are those that operate at a level that is less than professional and are capable of telling you anything that they think you want to hear even though it may be based on fiction. There are companies that promise a payment only to switch at the last minute to one much higher. There are those who will offer a payment a few dollars less per month only to charge an interim rental fee, outrageous documentation fees, and an evergreen clause that increases your overall cost to that which is much higher than you might realize.

We walk the line between being overly alarmist and reasonably cautious when it comes to educating our clients and vendors as to what to look out for when arranging a lease or loan. We know we run the risk of turning off some of our readers when speaking to these issues but I believe that sacrificing brevity for the sake of clarity is important when it comes to dealing with your money! I hope you feel the same.

Brian Montgomery, Owner

5. A few years ago, I commented to a class of sales people that our daily business challenge is similar to that of a person who is working to solve a complex puzzle where some of the key pieces are missing. It takes vision to see the whole picture, to envision what is missing and know how to fill in the blanks. When we work with clients and vendors, we literally put the pieces together so that the puzzle is solved and only then can we unlock the potential of your business, at that point, we unlock the capital for your growing business.