Reader comes through on News about Marlin

First, I would like to thank the readers. Without the "tips," referrals, and "hard evidence" like what follows, Leasing News could not provide the "inside news."

Kit Menkin

For several days readers have been sending emails that Marlin was "no longer funding," had closed an office, had made some serious changes. Since closing the broker division, reportedly sales had really fallen.

None of this Leasing News could substantiate, particularly when two employees were recently announced as being promoted in both sales and credit. Marlin did not return telephone calls or email.

What was being told to us, did not make sense. However, Leasing News received this Marlin Business Service memo from a highly reliable source:

"To:
From: Marlin Leasing Corporation
Date: February 25, 2009
Re: Policy Change
"Dear Vendor:

Due to the continued disruption of the financial markets, Marlin will be implementing changes which affect our application acceptance policies effective March 1, 2009.

Marlin will only process applications from existing Marlin customers (lessees) using modified rate sheets for dealers meeting acceptable portfolio performance as determined by Marlin.

We believe that this change is temporary but we will be relying on the stabilization of the credit markets before reverting back to our standard policies. Any future change to our policy will be communicated to you when appropriate.

"Thank you in advance for your cooperation. Please contact me directly at 888-479-9111 with any questions.

"Sincerely,

Sales Rep

Marlin Leasing Corporation

"MARLIN'S MISSION
Marlin Business Services Corp . is a company of dedicated employees committed to the delivery of quality credit products to small businesses with exceptional customer service and convenience...one customer at a time."