RENO, Nev., Jan. 15, 2015 /PRNewswire/ -- The Alta Group has joined the Independent Community Bankers of America (ICBA), the nation's voice for more than 6,500 community banks, to serve as a resource for members that are launching or expanding equipment leasing and finance operations. Alta is the leading global consultancy dedicated exclusively to the business of equipment leasing and asset finance.
Andrew G. Mesches, an Alta director with 30 years experience in the regulated environment of commercial lending and bank-owned equipment finance, noted that liquidity in the marketplace is encouraging more community banks to start equipment leasing programs or further develop existing ones. "Community banks are looking for other sources of revenue outside of traditional bank products, and equipment finance can be a good source of revenue with high yields," he said.
Yet equipment leasing presents challenges as well as opportunities for financial institutions.
"Banks should approach the equipment leasing opportunity with the understanding that it is a specialized business that requires specific competencies. It is the only product within the bank that involves actual ownership and maintenance of equipment, and with that the need to consider residuals, the aftermarket for equipment at the end of the lease term, regulatory issues, tax considerations, managing the risk of liability, and other factors," he explained.
Mesches said Alta is uniquely qualified to help banks with their equipment finance consulting needs because all client engagements are managed by seasoned senior-level equipment finance industry professionals. Alta provides consulting services for market entry, strategy, benchmarking, credit operations, risk management, mergers and acquisitions, legal support, software applications and systems, asset management throughout the entire equipment lifecycle, professional development, and other needs.
"Alta's professional development experts, for example, can help bank personnel better understand the specifics of equipment leasing," Mesches said. "We have consultants in localities across the U.S. that provide comprehensive services to bank equipment finance operations, including functional-specific as well as broad-based professional development."
Community banks that would like more information can call Mesches at (720) 323-3246 or email him at [email protected].
For more information about The Alta Group, visit http://www.thealtagroup.com.
SOURCE The Alta Group