Kayla Tausche CNBC

y david stein
LEASING FINANCING IS A
PROFITABLE PARTNER
David Urban, CEO
Leasing is an option more
business owners are taking
advantage of, as its taxation
advantages remain entrenched in
the tax code. Tighter regulation of
the traditional banking industry
make that type of financing much
more difficult to obtain. According
to the Small Business Administration,
more than 80 percent of small
businesses opt to lease versus buy
all kinds of equipment, ranging
from vehicles to computer systems.
In a recent survey by the Equipment
Leasing Association, 65 percent
of respondents said that their
ability to have the latest equipment
was the number one perceived
benefit of leasing. The second
benefit was the ability to have a
pre-determined monthly line item
to guide future budgets.
Both of the above are reasons
David Urban, CEO and owner of
Lease Finance Partners, says he
hears from the clients served by
his business. Although based in
Wichita, Kansas, he handles transactions
from across the nation.
“I think what we are
seeing is that businesses
are starting to understand
that the traditional bank
cannot do everything,” Urban
said. “Business owners
are seeing the importance
of having a relationship
with the bank and a leasing
company – just as they
have a relationship with
an accountant, an attorney
and an insurance agent – as
part of an overall business
plan. We are seeing a time
now where leasing companies
are becoming part of
that overall plan as well.”
Lease Finance Partners
serves a broad range of customers.
The firm has customers
ranging from those whose only
lease item might be a $5,000
copy machine from one of the
vendors working with his firm,
to a business leasing several
million dollars of equipment
and vehicles.
No matter what size the contract
may be, Lease Finance
Partners uses the same approach
with each client. Urban
emphasized, “We try to be consistent
with all of our customers.”
He looks for customers who
want to build a relationship
with his firm that is more than
just a transaction. Urban wants
clients who are looking to form
a long-term business relationship
that helps them grow their
business – and Urban supplies
the equipment financing needed
to facilitate that goal.
Lease Finance Partners began
in 1959 as Bob Moore Leasing,
supporting a group of auto
dealerships owned by Moore.
When Urban’s stepfather, David
Anderson, left the banking
industry to become president
of Bob Moore Leasing, the company
name was changed to
Dealers Leasing to better reflect
its new mission of supporting
more auto dealerships than just
those owned by Moore. In the
late 1980s, Urban was asked to
join the firm and head up its
newly-formed equipment leasing
division. Two years ago,
Urban purchased the firm and
made yet another name change
to better represent the firm’s
niche in leasing.
“Market segments come and
go,” Urban noted, reflecting the
fact that, although the firm has
dabbled in other types of leasing,
it has remained true to its
ideal of being a partner to business
owners seeking quality,
affordable equipment. “We are
always looking for where we
can fit the niche.”
www.leasefinancepartners.com
THE SUIT MAGAZINE - JAN 2015