How do Independent equipment finance companies raise capital today when banks are focused on managing regulatory compliance, anticipating new legislation and dealing with increased competition? This is the key question to be addressed in an Oct. 27 panel session at the Equipment Leasing and Finance Association’s Annual Convention in San Antonio entitled Lender Finance: How Does the Capital Stack?

Panel co-moderators Valerie Gerard and Patricia Voorhees are both with The Alta Group, a global consultancy exclusively focused on the business of equipment leasing and finance. The panel will also feature  Stewart W. Hayes, senior vice president of Wells Fargo Capital Finance; Miles Herman, president and COO of LEAF Commercial Capital; and Arjay Jensen, managing director of Guggenheim Partners.

The presentation will introduce preliminary findings of a study commissioned by the Equipment Leasing & Finance Foundation and prepared by Gerard, a managing director and partner of The Alta Group; Voorhees, an Alta director; John Deane, Alta’s CEO; and George Lehnertz, an Alta consultant. The study unveils capital-raising options that are available to Independents, including securitization, conduits, bank lines and non-recourse mechanisms.  It also points to disincentives that are reducing banks’ credit appetite and opening market share to non-bank lenders.  The convention session will also explore merger and acquisition implications for these Independent lessors.

“We plan to invite audience participation to stimulate dialog on the subject of lender-to-lender finance,” said Gerard. “This is a challenging time for executives of both banks and independents. The good news is our convention session will share knowledge and experience as well as possible solutions,” she added.

The Foundation study referenced in this session is expected to be published in the first quarter of 2016.