ELFA Chairman Bill Verhelle - Keynote Speaker at Credit & Collections Conference
Tuesday, June 03, 2008

Fairport, NY (June 3, 2008) - First American Equipment Finance’s CEO, Bill Verhelle, was the keynote speaker for the ELFA’s Credit & Collections Management Conference in Philadelphia, PA. As the current Chairman of the ELFA, Verhelle presented the "State of the Equipment Leasing and Finance Industry" to senior vice presidents, vice presidents, and managers of risk, credit, and collections from an array of companies including KeyBank, Siemens, US Bancorp, Wachovia Corporation, and Wells Fargo & Company.

Amid changes in the marketplace, including frozen credit markets and a reduction in liquidity, the $600 billion equipment leasing and finance industry has increased its focus on credit quality. Verhelle discussed the factors that will affect some leasing companies in 2008. He outlined how liquidity problems, mortgage exposure, and the U.S. economy may further tighten the commercial lending environment.

Verhelle also presented some positive news from the ELFA’s most recent Monthly Leasing and Finance Index (MLFI-25), which showed some improvement in financing activities. According to the MLFI-25, overall business volume increased 16% year-over-year for April. In addition, while delinquencies and charge-offs deteriorated since late 2007, April results improved slightly over the prior month and overall industry portfolio performance remains at a relatively favorable level.

The ELFA is the premier trade organization for over 750 member companies, including independent equipment leasing companies, captive equipment leasing companies, and commercial banks.

About First American Equipment Finance. First American Equipment Finance specializes in leasing high-technology equipment to large corporations, education clients, and hospitals. First American is well known throughout the industry for providing outstanding customer service and excellent financial products at competitive rates. They offer a full range of sophisticated financial products and services. First American has earned a reputation for fairness, attention to detail, and excellence in every aspect of equipment leasing.