Steve Reid, CLP, his hobby is prospecting for gold. He brings his talent in leasing to the old west on weekends and vacations. His private life brings him back to 1849, working hard, prospecting, no government regulations, no cell phones, no emails, just the great outdoors. Leasing News asked him four questions: 1. What is the biggest issue you face in your business? “The biggest issue facing most of us in the leasing industry is the ability of maintaining volume and quality in today’s economic times. Not something that we haven’t done in the past, but always a challenge during these cyclical times.” 2. What advice would you give to a young person entering the leasing business today? “It is a fun and rewarding business and you will develop a number of lifetime friendships, so work hard and do your best. Do be cognizant that integrity and character count for the long term.” “ Please see above.” 4. What is one big thing that you hope to do before you die? “Find a big stash of gold!!!” “Seriously, I am pretty lucky, having been with the same group since the late 80's. My boss, and credit manager are the same individuals and we have a number of long time employees. We started out as a funding source that did financial statement deals only. Many of those deals were structured and dependent upon the collateral. Over the course of time we started doing some application only business, and now have come the full cycle where today, we are an ‘app only’ funding source. “Over that period of time we have seen the economy go up and down, rates have dramatically changed and the competition has come and gone. We have always done our due diligence and have tried to error on the side of conservatism, which can be frustrating at times, but has proven to be a key for longevity." Steve joined the Leasing News Advisory Board on February 5, 2004 Steve Reid, CLP, a fun guy, very out-going, joined the Leasing News Advisory Board on February 5, 2004. He is perhaps best known for “speaking his mind,” and signing his name to an e-mail when he does so. He will give you his opinion and let you print it, something many bankers don’t like to do. He is not afraid to speak out, and at the same time, giving you his full e-mail address, complete with telephone number. Perhaps he gets it from his boss, Paul Menzel, 2005 Leasing News Person of the Year. When we asked readers if they were still having “fun in the leasing business,” he was one of the first to reply:
Steve Reid, CLP Currently unemployed. Former Marekting Manager/VP of Marketing for LEAF,Third Party Funding/Santa Barbara Bank & Trust since 1989. He started in leasing in 1982 working for Ron Wagner at the original Heritage Leasing Corp. Prior to entering the leasing industry, Steve spent nine years selling computer system for various companies such as Burroughs and Wang Laboratories. This is where he got his first exposure to leasing as he utilized it in the sale of computer systems. Steve graduated from California State University, Northridge with a B.S. in Business Administration and Marketing. He earned his CLP designation in 1996. He just completed his term as a Board Member for the United Association of Equipment Leasing.
His main hobby is gold prospecting, and depending upon the season, you can find him shoveling dirt in the Mojave Desert or dredging in small streams in the northern part of the state.
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