If you institution is like many in today's regulatory environment, you are under some pressure to diversify your balance sheet away from real estate. However, adding quality C&I loans can be a challenge given the competitive landscape.
Some banks are choosing to build an equipment finance division from scratch. Assuming you can attract and retain professionals with leasing experience, this is a viable option. However, lease-finance is a distinctly different line of business than traditional lending. Unfortunately, many bankers have learned this the hard way, as operating leasing as they do small business lending doesn't work. The marketplace has different rules and moves much quicker. Most deals are approved, closed and funded the same day. Sometimes within a few hours!
Bankers: Why You Should Partner with TCP
Starting your own leasing division from scratch can also be an expensive proposition. Experienced professionals - let alone teams - are commanding significant sign-on premiums. In addition, you'll need an operating system and support team. Still, about three-quarters of your business customers lease equipment. In that sense, your book of business is leaking a lot of revenue to leasing companies.So why partner with TCP? First of all, we offer in-person and on-line training to get your staff ready to be in the leasing business. From prospecting to closing, we teach Relationship Managers what they need to know. They needn't become equipment financing experts - we'll do the heavy lifting - but they should be armed for success. We'll make sure they are. In addition, we will help structure and get the transaction approved. We'll prepare and route closing docs. We will handle all sales tax remittance, monitor amortization and collect/process payments.
And as always you never have to sign a contract nor pay an annual fee to work with TCP. Our agreement with you is simple - either we peform at the high level you expect or you simply walk away.
At TCP, we understand our banking partners work in a highly regulated environment. Accordingly, we maintain/adhere to policies and procedures consistent with your operating requirements. We are happy to provide you our CIP, Information Security, Employee NDA Requirements and Contingency Plans; developed/followed in a manner to satisfy your auditors and regulators. We understand.