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New “Navigator Program” for Lease Brokers by Kit Menkin After six months of preparation and planning, the new “Navigator program” between US Bancorp Manifest and Pentech Financial Services, on an exclusive basis has been formerly announced Pentech will provide “B-C” or story credit funding alternative to Manifest brokers who sign up for this program along with“partnership” customers. This is a long term program, Benjamin E. Millerbis, CLP, Pentech's President & CEO says, and he does not plan to expand it to other leasing companies. It is only available The way the “Navigator” program works is the entire file, including credit, bank, trades, financial statements, are scanned and forwarded to Millerbis explains, “Not only is the market ready for this, but there are a couple of reasons why we put this new program together: one, the opportunity to work with Manifest with their superior service and reputation was too good to pass up; two, to help out with the restricted credit criteria and continue the superior customers service to both brokers and lessees with a new credit window; three, the broker gets a expanded window for creating more sales, and keeping "The rapid consolidation of funding sources in the small ticket market has had a dramatic impact on lease originators,” Millerbis said. "Working with the Manifest broker base, we will focus on understanding and managing the credit risk, pricing for that risk, and delivering a high level of service." Brian Bjella, Sr. Vice President and General Manager of Manifest Funding Service, was not available at press time for an interview, but in a prepared press release stated, "In essence if a transaction falls outside our credit window we can provide a convenient funding alternative with a commensurate rate structure. The consolidation and contraction of B-C funding sources in the broker/lessor marketplace has left our customers with few alternatives. Our partnership with Pentech helps fill that void for our customers". The “Navigator” program was up and running in October, then came the fires in the Pentech has created a new division, Pentech Funding Services, specifically to service this program. It is this division, located in Ron Wagner, CLP, formerly Senior Vice President of Imperial Business Credit ( plus Commerce Security, “We are excited to be working with such a great strategic partner as Manifest Funding, “ he said. Pictures from the Past ---1990---
Ron Wagner
1990 Western Association of Equipment Lessors President Ronald L. Wagner, CLP, President, Heritage Leasing Capital(4), receives his Presidents Plaque from Bill Grohe, VP Marketing, Brentwood Funding Enterprises, who takes office as WAELs President January, 1991.
1990 WAEL President Ronald L. Wagner, CLP, President, Heritage Leasing Capital, smiles broadly as he addresses registrants at the WAEL Fall Conference and Funding Forum WAEL Newsline, Winter, 1990 http://www.leasingnews.org/pictures_past/past_02-19-03.htm Mr. Wagner, a former President of the United Association of Equipment Leasing (UAEL) was also Founder and President of Heritage Leasing of San Diego until its sale to Imperial Business Credit. After Commerce Security, he took a sabbatical, as he calls it, for three years, playing golf mostly, while waiting for the leasing market to turn around. The new company advertised in Leasing News last year This is an exclusive program for US Bancorp Manifest Funding Services and Pentech Financial will not work directly with brokers in this marketplace, but will continue to work with brokers and those who refer business in the $250,000 range and above. Pentech Funding Services ronw@pentechfinancial.com About Manifest Funding Services, Inc. Established in 1987, U.S. Bancorp Manifest Funding Services specializes in financing equipment through a network of independent finance brokers and lessors. It strives to be the premier funding source in the business equipment finance industry by emphasizing long-term relationships and innovative products that are focused on the success of the independent broker and lessor. About Pentech Financial Services, Inc. Founded in 1978, Pentech Financial Services specializes in providing value-added financial services tailored to the specific needs of our clients - today and tomorrow. With offices in Silicon Valley, Corporate Contacts: Benjamin E. Millerbis, President & CEO, Pentech Financial Services, Inc. Ben Millerbis 408.879.2200 Pictures from the Past
Pictures from the Past---1988
Millerbis and Possehl
1988 WAEL (Western Association of Equipment Leasing President ) Ben Millerbis, CLP (left) of Pentech Financial Services passes the gavel to 1989 President-elect Jim Possehl, CLP of Republic Financial Corporation during the Annual Business Meeting at Lake Tahoe Conference.
http://www.leasingnews.org/pictures_past/past_11-21-02.htm Brian Bjella, Senior Vice President and General Manager, Manifest Funding Services 507.532.7770, ext. 7193 Pictures from the Past
http://www.leasingnews.org/pictures_past/past_10-3-02.htm Peter Eaton, CLP Pictures from the Past ---1990---
Monterey Conference Chair Peter Eaton http://two.leasingnews.org/imanges_uael_wael/kolp_eaton.jpg Conference Chairman Peter Eaton, CLP,(l) and his wife Patricia visit with First National easing Corporation executive Vice-President Casey Kolp and his wife Linda during the Sports Reception. October, 1990, Western Association of Equipment Lessors Conference, Monterey, California Peter Eaton Today:
http://www.leasingnews.org/pictures_past/past_03-19-03.htm
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