The Equipment Leasing and Finance Association has launched a new version of its flagship training course, Fundamentals of Equipment Leasing and Finance. The completely overhauled program engages users through an interactive, online interface that provides virtual hands-on experience and training in the fundamentals of equipment finance.

The course—the only one of its kind for the $1 trillion equipment finance industry—is designed for those who are new to the equipment finance industry or those looking for a refresher on the industry fundamentals.

There’s nothing quite like hands-on experience to learn new skills, and the new course gives learners the opportunity to run their own fictional equipment finance company. Users have a chance to “be the boss” and learn what’s involved in the day-to-day operations of an equipment finance company, navigating through customer interactions, identifying the departments and individuals that should be involved in each step, and earning badges and upgrades as they go. From closing the sale to fielding customer requests and reviewing end-of-lease options, the learners receive guided feedback to reinforce learning. The course is self-paced: It can be completed in one sitting or keep track of where learners left off if they decide to log out and return later.

Micro Lessons
The course is divided in to seven micro lessons followed by the game. These lessons, which are eight to 10 minutes in length, allow learners to review the vital information that everyone new to the equipment finance industry should know. After each micro-lesson—which can be taken in any order—learners earn a badge that can be shared on social media. Topics include:

• Lesson 1 – Introduction to Equipment Leasing and Finance
• Lesson 2 – Origination Phase of the Transaction Lifecycle
• Lesson 3 – Administration and Termination Phases
• Lesson 4 – Leasing Law
• Lesson 5 – Lease Accounting and Federal Tax
• Lesson 6 – Types of Finance
• Lesson 7 – Creating Successful Solutions

“We are excited to launch the completely redesigned and updated Fundamentals course to prepare the next generation of equipment finance professionals for a career in this great industry,” said ELFA President and CEO Ralph Petta. “The new course is concise, flexible and dynamic, and draws on the latest instructional technology to encourage and reinforce learning. Now it’s easier than ever for those who are new to the industry—or seeking a refresher—to get the training they need, where they need it and when they need it.”

How to Access the Course

The new Fundamentals of Equipment Leasing and Finance online course is available to both ELFA members and nonmembers. The course is available for individual purchase as well as bulk purchase by companies that wish to train more than one employee at a time. A 20 percent discount is available through August 2018. For more information, visit www.elfaonline.org/events/fundamentals.