Taycor Financial Remains Confident as Equipment Finance Trends Steadily Increase

Taycor Financial Monthly Confidence Index

The August 2013 MCI-EFI (Monthly Confidence Index for the Equipment Finance Industry) revealed that the confidence in the equipment finance market increased from July’s  index of 59.4 to 61 this past month. Even in the face of economic distress, optimism for the industry’s improvement continues on and participants remain assured that business conditions will progress, or at the least remain the same over the next few months.

In the midst of the MCI-EFI release, Taycor Financial conducted its own research and study on the matter. The company distributed a similar survey to its customer base asking about expectations in equipment finance for the future and found that its results differed slightly from the MCI-EFI. The main cause of the fluctuations in numbers between the two surveys is the obvious difference in respondent demographics. While the MCI-EFI covered all segments of the market including all banks, financial service and independent companies, Taycor focused on its lenders and customers it serves, particularly businesses in the medical, manufacturing, and IT industries to name only a few. (For an extended list of industries that Taycor used for their study, visit http://www.taycorfinancial.com). Although percentages differed from the MCI-EFI survey, the end results for both surveys turned out to be the same. Both surveys showed an increase in optimism for the equipment finance industry’s progress in the future.

Below is a brief summary of the August 2013 MCI-EFI Survey Results:

  • Assessment of business conditions over the next 4 months:
    • 32.4% believe conditions will improve (25% in July)
    • 67.6% believe business conditions will remain the same (71.9% in July)
    • No one believes business conditions will worsen (3.1% in July)
  • Assessment of demand for leases and loans to fund capital expenditures over the next 4 months:
    • 23.5% believe demand will increase (15.6% in July)
    • 76.5% believe demand will remain the same (81.3% in July)
    • No one believes demand will decline (3.1% in July)
  • Assessment of access to capital to fund equipment acquisitions over the next 4 months:
    • 20.6% expect more access to capital (21.9% in July)
    • 79.4% expect the same access to capital (unchanged in July)
    • No one expects less access to capital (unchanged in July)
  • Assessment of employment over the next 4 months:
    • 29.4% expect to hire more employees (25% in July)
    • 64.7% expect no change (68.8% in July)
    • 5.9% expect fewer employees (6.3% in July)
  • Evaluation of the current U.S. economy:
    • 91.2% evaluates the economy as fair (90.6% in July)
    • 8.8% evaluates the economy as poor (9.4% in July)
  • Assessment of U.S. economic conditions over the next 6 months:
    • 26.5% believe the economic conditions will get better (34.4% in July)
    • 70.6% believe the economic conditions will stay the same (62.5% in July)
    • 2.9% believe economic conditions will worsen (3.1% in July)
  • Assessment of spending on business development activities over the next 6 months:
    • 29.4% believe their spending will increase (31.3% in July)
    • 70.6% believe their spending will not change (68.8% in July)
    • No one believes there will be a decrease in spending (unchanged in July)

Regardless of the market segment represented, respondents have differing but improving points of view on the future outlook for the industry. Although Taycor Financial remains optimistic and customers seem to follow the same attitude, the company recognizes the increase in competition and the need to consistently raise the bar for credit worthiness and rates. Demand for equipment financing has remained very strong considering the current lack of economic growth and sources are more plentiful, however it seems too soon to tell how substantial sustained of a growth will occur. The overall outlook continues to remain positive so we’ll see what pans out in the final quarter.

About Taycor Financial

Founded in 1997, with offices in Los Angeles CA and Boston MA, Taycor Financial has joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. Taycor is also one of the most rapidly growing; having made the “Inc. 500” list of America’s fastest growing private companies. For more information on equipment leasing or financing, to get an Instant Quote, or explore career opportunities visit www.Taycor.com or call (800) 322-9738.

Taycor Financial is Expanding Its Sales Department

The sales department of any company is the catalyst for its success. Sales representatives have the first impression with clients and are responsible for keeping communication and building strong and lasting relationships. They develop new business daily and create and convey the value of the company’s services to potential customers.

With the importance of the sales department in mind, Taycor Financial recently hired a new Account Executive with advanced product knowledge and high motivation to contribute to the company’s rapid growth in business to business sales. Taycor Financial is a premier company within the industry dedicated to providing its businesses with the best customer satisfaction and services available. During the hiring process, Taycor Financial keeps these goals and mission in mind as driving standards in finding the best fit employees for the company. The company looks for employees who are highly motivated and driven by the financial reward of a sales career, fluid and effective communicators, problem solvers, and proactive in fully carrying out all responsibilities. In return, sales representatives learn industry proven sales prospecting techniques, closing strategies, account management skills, and product knowledge from an experience leasing professional. They gain experience in business to business sales, maintaining and managing a multi-stage pipeline, and familiarity in working within a CRM.

“We believe that your career at Taycor leaves you a better person than when you first walked through our doors. We strive to make a home for bright, extraordinary, innovative, dedicated, and community focused individuals.”

Since its first opening, Taycor Financial has been a nationwide leader in the equipment leasing and financing industry. Taycor Financial remains focused on the growth and well-being of its employees as well as the small and medium sized business community. The company provides an environment for each individual where talent, hard work, and dedication lead to a rewarding and dynamic career in business.

About the Company – Taycor Financial was founded in 1997 and has since established itself as one of America’s top businesses in the equipment leasing and financing industry. With offices in Los Angeles, CA and Boston, MA, Taycor Financial is dedicated to providing small and medium sized businesses with easy access to financing for growth through capital acquisition. Taycor Financial partners with equipment sellers to help them help their customers by providing easy financing options. Taycor Financial also partners directly with buyers by amplifying their purchasing ability in times of growth and expansion.

Taycor Financial Welcomes Its New International Interns

Last August, Taycor Financial proudly announced its partnership with the German American Chamber of Commerce California (GACC CA) a public charity organization. Over the course of summer 2012, Taycor Financial offered its first international internship program through the GACC CA, which in turn was a rewarding experience for all. The company is excited to start the program again in the upcoming months. International student arrivals began early last week and will continue in the upcoming weeks.

“The welcome at Taycor was very nice. All of the colleagues are very friendly and supportive which has made my transition into a new country much easier than expected. After only a few days, I already feel as though I’ve learned so much. I’m excited to for this next year and to see how Taycor can continue to help me grow” said Janine Bock, an international student from Germany.

Due to the program’s success last year, Taycor Financial has extended its program from only summer internship to a full year or more depending on how long each individual wishes to stay and take advantage of their learning opportunities. Taycor Financial has also partnered with other multiple international agencies similar to the GACC CA.

The GACC CA partners with a broad array of companies to focus on two primary programs, the business program and career program. These programs allow international undergraduate students and recent graduates the opportunity to travel abroad and gain valuable business experience.

Taycor Financial is proud to take its part in contributing to the growth, knowledge, and development of the next business generations. Not only do these types of partnerships allow for an increase in access to a wider variety of talent, marketing, and business services, but they also tighten the gap between unlike companies and distant countries. It helps break down international borders and broaden horizons for both the employer and employees. Taycor Financial remains excited for its interns and its future opportunities within its partnerships.

About Taycor Financial

Since founded in 1997 by President Bob Skibinski, Taycor Financial has arisen to a premier equipment leasing and financing company in the country. Over the years, the company has grown and renovated itself to success by proactively seeking out new approaches in value added partnership with equipment vendors in a broad array of industries including medical, printing, manufacturing, packaging, and industrial.

Taycor Financial Looks at the Glass Half-Full This Month

This week the Equipment Leasing and Financing Association (ELFA) and its non-profit affiliate, the Equipment Leasing and Financing Foundation released their results from surveys taken for the month of March.

ELFA reports economic activity including New Business Volume, Aging of Receivables, Net Investment at Risk, Average Losses, Credit Approval Ratios, and Total Number of Employees from 25 financial services and manufacturing companies, representing a cross section of the $725 billion equipment finance sector.

This past March, companies signed up for $6.8 billion in new loans, leases and lines of credit which is a 45 percent increase from February, however new business volume was flat compared to March 2012.

“The continued low interest rate environment promoted by the Federal Reserve together with relatively benign fundamentals in the broader economy bode well for businesses planning to expand and grow in the coming months and invest in capital equipment,” said William Sutton, ELFA Chief Executive.

While credit approvals increased 1 percent from February totaling to 78.4 percent, only 50 percent of participating organizations reported submitting more transactions for approval last month compared to the 53 percent in February. With the slight changes in the past few months, the April confidence index fell to 54 percent from the 58% last month reflecting industry participants’ concerns over the economy and the impact of federal policies on capital expenditure.

While some participants lose confidence, Taycor Financial remains optimistic for the upcoming months. With the passing of tax season the company understands the minor lull in business volume, however Taycor’s partnership with www.equipmentleasing.org and its member network raise high hopes for generating new business.

The combination of the strong development of Taycor’s Customer Finance Center and the continued low interest rates resulting in greater numbers of credit approvals brings a steady confidence in the equipment leasing and finance industry. While the Equipment Leasing and Finance Association’s index reflects Taycor’s recent business volume, the company remains optimistic for April and the months to follow.

About Taycor Financial

Founded in 1997, with offices in Los Angeles CA and Boston MA, Taycor Financial has joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. Taycor is also one of the most rapidly growing; having made the “Inc. 500” list of America’s fastest growing private companies. For more information on equipment leasing or financing, to get an Instant Quote, or explore career opportunities visit www.Taycor.com or call (800) 322-9738.

Taycor Financial Takes On Tax Time

Taycor Financial Equipment Leasing Tax AdvantagesIt’s that time of year again where the rain starts to fade, flowers begin to bloom, and taxes are due. As an equipment leasing company, Taycor Financial works with businesses and prospective customers who have tons of questions every day regarding their tax returns and how it affects their transaction. With the tax deadline coming up on Monday, Taycor took the time to consider some of the most frequently asked questions regarding taxes and provide answers to help ease taxpayers’ minds.

“I need more time! Can I get an extension?”

Yes, you can file for an extension. All you need is to fill out the IRS form 4868 and you can do it online. Doing this gives you until October 15th to file your taxes, however this is only an extension to send in your paperwork. If you think that you might owe money then you’ll need to approximate the amount and send it in by April 15th. At least 90% of your estimated tax liability has to be paid by that time and overestimating is always better than underestimating. If the IRS does not get paid what you owe them by April 15th then you will receive a .05% per month late-payment penalty on your outstanding tax bill. If you are getting a refund however, you do not need to worry. Also, if you do not file your paperwork by October 15th then you will receive a failure-to-pay penalty which is 5% per month of any taxes you owe.

“What do I do if I don’t have enough money to pay everything right now?”

One thing you should never do if finances are too tight is wait and do nothing. It is much better to reach out to the IRS and communicate your financial struggles rather than waiting for them to contact you for a default payment.

One option is a short term extension. You get 120 days and you’ll have to pay the late payment penalty plus interest. However if you need more time you can start an installment plan. If you owe less than $50,000 then you can do this online and you pay the same interest and penalty rates as people who get a short-term extension. There’s a one-time fee of $105 to set up the installment and a $52 fee if you choose to setup automatic debit from your account each month.

Another option is to pay with a credit card, however the interest on your credit card is significantly higher than what the IRS charges under a payment plan. There is also a fee charged by the companies the IRS uses to process credit card payments.

If none of these options work for you and you’re really struggling financially, then call the IRS and explain your situation. They are willing to work with you as long as you communicate with them.

“I’m a bit disorganized and didn’t keep track of my deductible purchases last year. What should I do?”

The IRS has tools to help give you an estimate, however you might be better off trying to reconstruct the spending that would qualify for tax breaks especially if you made big-ticket purchases. Rummage through files and track down any receipts, credit card statements, and bank statements you can find.

“It’s been at least a couple years since I last filed taxes. Is it impossible to catch up?”

If you didn’t file taxes are due a refund, you have a three-year statute of limitations to claim it. However, if you haven’t done taxes and owe money, it’s a bit different. The IRS can go back three years, but they can look back at what you made and what you should have been paying for six years if you underreported your income by 25% or more.

First, start with this year’s taxes and pay anything you owe. Then you can go back however many years and start with the first year you didn’t pay and work forward. If it’s been more than a couple years and you’re having trouble organizing everything, you might want to seek help from a tax professional to help you sort through your records.

“What should I do if I’m missing important documents required for filing taxes?”

First, try contacting the organization that issued you the form. Many forms can also be found online. If you are unable to get the document you need then the IRS form 4852 allows you to fill out to the best of your knowledge what’s on the missing document. If you cannot recall the information, then pay what you know you owe and file for an extension until you can get another copy of the missing document.

“Is it too late to include something I forgot if I already filed?”

You have up to three years to amend your tax return. The form you use is the 1040X. Amended returns take longer to process because the IRS looks at them more closely so expect to wait at least 6 weeks.

About Taycor Financial

Taycor Financial, a nationwide equipment leasing and financing company headquartered in Los Angeles, has built a reputation of innovation by proactively seeking out new approaches in value added partnership with equipment vendors in the medical, printing, packaging, industrial and manufacturing industries. The customer finance center was developed through the partnership with www.equipmentleasing.org and its member network.

Trends in the Equipment Leasing and Finance Industry Support Growth at Taycor Financial

Trends in the Equipment Leasing and Finance Industry Support Growth at Taycor Financial

Los Angeles, California – October 30, 2012 (Press Release) The Equipment Leasing and Finance Association (ELFA) produces a Monthly Leasing and Finance Index (MLFI-25), which reports on equipment finance activity such as New Business Volume, Aging of Receivables, Net Investment at Risk, Average Losses, Credit Approval Ratios, and Total Number of Employees. The ELFA represents companies included in the finance sector such as financial services companies and manufacturing companies involved in financing capital goods.

This past September, the MLFI-25 indicated that overall new business volume was $8.2 billion—up 16 percent from a year ago. In addition, volume increased by 19 percent since August. The ELFA’s Monthly Confidence Index for October reveals a steady confidence in the equipment leasing and finance industry, despite the current economic, political, and regulatory concerns.

William Stephenson, Global Chief Commercial Officer of De Lage Landen noted that “Double digit improvement in several index categories is certainly a good sign for our industry.” In addition, “the improvement trend in these fundamental industry metrics reflects a relatively stable but cautionary outlook for the future.”

Taycor has discovered that there is indeed a steady confidence in the equipment leasing and finance industry, as indicated by their customer surveys. After talking to Taycor’s customer base and vendor partners, VP of Sales Drew Olynick found that in support of the ELFA’s claims, “more and more customers are rushing to lease or finance equipment before the year comes to an end.” If this behavior continues, Drew predicts that “new business volume will continue to see a steady incline and the equipment leasing and finance industry’s revenues will rise.”

The Equipment Leasing and Finance Association’s research is directly correlated with Taycor’s recent business volume and illustrates improvement from 2011.

About Taycor Financial

Taycor Financial, a nationwide equipment leasing and financing company headquartered in Los Angeles, has built a reputation of innovation by proactively seeking out new approaches in value added partnership with equipment vendors in the medical, printing, packaging, industrial and manufacturing industries. Recent partnerships have allowed for the development of innovative tools and support throughout its entire member network. The recent partnership with www.equipmentleasing.org and its partners has grown, and will continue to develop the abilities of Taycor Financial.

 

Taycor Financial Partners with German American Chamber of Commerce California

Taycor Financial Partners with German American Chamber of Commerce California

Los Angeles, CA – August 28, 2012(Press Release) Nationwide equipment leasing company Taycor Financial is proud to announce its partnership with the German American Chamber of Commerce California (GACC CA) a public charity organization. The GACC CA is a non-profit organization with a mission to promote their two primary programs – the business program and career program. The GACC CA  has an exclusive list of businesses in the US that participate in both programs. Existing partnerships include companies Whole Foods, Sony, Raytheon, and now Taycor Financial. Under their International Career Program the GACC CA is able to offer opportunities to international students and recent graduates to travel abroad and gain valuable business experience across a broad array of companies.

Founded in 1997 US equipment leasing and financing firm Taycor Financial has established itself as a leader in the commercial equipment financing industry. The industry as a whole has grown year over year to the recent survey year showing over $625 billion dollars in assets secured and acquired through leasing and financing. Taycor has also earned the honor of making the Inc. 500 list of America’s fastest growing private companies.  Late 2012 Taycor Financial partnered with the GACC CA’s international internship program with great success. With the success of Taycor’s initial foray into the GACC CA’s international internship hosting program the firm is pleased to publicize their continuation and expansion of the program. Taycor is also excited to participate in the 5th European American Business Mixer hosted by the German American Chamber of Commerce California after seeing the success and sensation of the previous mixers and networking events.

Partnerships between American companies like Taycor and the German American Chamber of Commerce help to bring about not only increased access to a wider variety of talent, marketing information, and business services but also help to foster cultural understanding and strengthen the professional relationships between disparate companies and distant countries. Partnerships between American industry and the GACC CA is a crucial next step businesses can take to get their foot in the door to the ever expanding, increasingly competitive talent pool. It allows for a mutually beneficial relationship between employee and employer, breaking down international borders to expand the opportunity for both German and American industry alike. Taycor Financial remains excited for the future opportunities this partnership will provide for itself, the German American Chamber of Commerce California and its associated partners.

About Taycor Financial

Taycor Financial, a nationwide equipment leasing and financing company headquartered in Los Angeles, has built a reputation of innovation by proactively seeking out new approaches in value added partnership with equipment vendors in the medical, printing, packaging, industrial and manufacturing industries. Recent partnerships have allowed for the development of innovative tools and support throughout its entire member network. The recent partnership with www.equipmentleasing.org and its partners has grown, and will continue to develop the abilities of Taycor Financial.

JMR Partners with Taycor to Provide Easy Financing Solutions to Fuel Customer Development into the Cloud

JMR Partners with Taycor to Provide Easy Financing Solutions to Fuel Customer Development into the Cloud

JMR Electronics, Inc has been an innovator and leader in storage technologies since 1982. With the recent announcement of new additions to their BlueStor™ and SilverStor™ family of products made during the 2012 NAB show, JMR continues to expand and provide a complete suite of cloud ready RAID solutions that are both scalable and ultra-reliable.

Since moving their operating facilities to Chatsworth, California, which many herald as the newly developing silicon valley of sunny southern California, JMR has grown through many notable partnerships and played keys roles in countless projects.

“We are proud to announce our partnership and future collaboration with JMR,” said Dave Mos, Equipment Financing Specialist at Taycor Financial. “The growth and success of our company (Taycor) has always been in creating value added partnerships with leaders in growing industry sectors. As storage solutions evolved from being measured in Megabytes, Gigabytes, and Terabytes, the technology is now rising into the Clouds. Taycor is here to evolve with the technology and provide easy access to leasing and financing.”

“By merging our technology obsolescence program with the benefits of financing, JMR’s customers can not only create and analyze the benefits on a cost-per-Gigabyte of storage basis, but spread that cost over time with a small flexible monthly payment. With the rapid development of technology customers can combat against technology obsolescence through a trade in program. Recently we completed a website integration of a Customer Finance Center that will allow visitors on the JMR website to request an instant monthly payment quote, or submit a simple online application. We are excited for the opportunity to grow through our new partnership with JMR,” said Mos.

About JMR Electronics, Inc

JMR is a leading value provider of scalable storage systems for high performance and capacity driven applications for multiple markets including; video and post-production, military and government, education, VOD, DCC, gaming, security, medical imaging, HPC and Web 2.0. Since 1982, JMR’s reliable and innovative RAID systems are proudly made in the U.S.A., manufactured entirely from their Chatsworth, California facilities.  JMR’s complete line of SilverStor™ and BlueStor™ Cloud-ready rackmount and desktop solutions  are built to handle the most demanding project needs from ingest to deliverable. Reliability. Innovation. Performance. This is JMR. For further information please visit www.jmr.com

About Taycor Financial

Founded in 1997, with offices in Los Angeles CA and Boston MA, Taycor Financial has joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. Taycor is also one of the most rapidly growing; having made the “Inc. 500” list of America’s fastest growing private companies. For more information on equipment leasing or financing, to get an Instant Quote, or explore career opportunities visit www.Taycor.com or call (310) 568-9900.

Download: 08012012 JMR Partners with Taycor to Provide Easy Financing Solutions to Fuel Customer Development into the Cloud

Taycor Financial Amongst Top Private Independent Leasing and Financing Providers

Best Leasing and Financing Companies

Los Angeles, CA – July 2, 2012 (Press Release) MonitorDaily, the equipment leasing and finance industry’s leading source for news has announced Taycor Financial as one of the 2012 Top Private Independents in the United States (based on new business volume in 2011).

Since the launch of the survey, members of the list have created an exclusive club of industry leading equipment leasing and financing companies. For only the second time since its inaugural inception, the top 25 independent finance providers collectively exceeded $4 billion in new business volume. “The recent year’s survey in new business volume showing a 20% increase is a sign of great things to come,” said Bob Skibinski, CEO of Taycor Financial. This year’s 20.7% climb in business activity was the highest increase ever, wrote MonitorDaily.

Taycor was also listed amongst the Top Percentage Gainers being only one of a handful to turn in a better than 50% increase in business. “Much of our growth is attributed to key partnerships with equipment sellers across select industry channels,” said Skibinski. “We took the 3 year hibernation of the economy to evolve ourselves. First, we streamlined our entire application processing procedure by deconstructing each action and automating by technology where possible. We then measured the remaining movements with a stop watch maintaining constant forward momentum. During this time we solidified our established relationships as well as created new ones by providing a true value added business support model. Taycor found innovation by listening to the needs of our partner network and responding with real solutions.”

“Our mission began with purposeful evolution, and the development of a customer finance center for our vendor partner network was the perfect expression of that commitment. On behalf of the entire team of passionate professionals at Taycor, we are excited to continue our path of growth in the second half of 2012,” said Skibinski.

About Taycor Financial

Taycor Financial, a nationwide equipment leasing and financing company headquartered in Los Angeles, has built a reputation of innovation by proactively seeking out new approaches in value added partnership with equipment vendors in the medical, printing, packaging, industrial and manufacturing industries. The customer finance center was developed through the partnership with www.equipmentleasing.org and its member network.

Download: 07022012 Taycor Financial Amongst Top Private Independent Leasing and Financing Providers

Taycor Financial Shows Strong Signs of Growth through Innovative Evolution

Markers for growth in the manufacturing technology sector look solid as the year nears the halfway mark. Taycor Financial reported that demands for machine tool and manufacturing technology was highly volatile through 2011, but as internal reports are compiled in preparation for the second half of the year, the numbers for growth in the sector in 2012 look promising.

For Taycor, the first half of the year began with some very exciting key partnerships in the manufacturing equipment industry. The supported vendor partner network began to register an increase in activity both from the special financing promotions in the first half of the year, and organically as the pent up demand to replace and upgrade outdated equipment began to roll in.

“The machine tool and manufacturing technology divisions of our Group together account for approximately 20 percent of our overall business,” said Michael Hong, Director of Business Development at Taycor Financial. “One of the key components to solidifying those partnerships was in our evolution of vendor partner support. Taycor Financial has grown the marketing department of the company by 200 percent this year alone. The growth is not to market leasing and financing services, but to provide marketing support to our vendor partners. We now have talented staff of full time graphic designers, web developers, SEO/SEM experts, writers as well as other marketing professionals to create a true value added partnership.”

The goal of the growing marketing department is to translate the beta success of the machine tool and manufacturing equipment vendor partnerships into the other industry sectors that Taycor supports.

“Industry reports are beginning to publish strong growth numbers in the first half of the year, and we are showing the same,” said Hong. “We will continue our evolution and innovative approach to providing our growing vendor partner network, in all industries with the tools and marketing support to grow their business. We are creating a company culture that revolves around the statement: Our success is dependent on the success of our partners.”

About Taycor Financial

Founded in 1997 with offices in Los Angeles, Calif. and Boston, Mass., Taycor Financial has joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. Taycor is also one of the most rapidly growing; having made the “Inc. 500” list of America’s fastest growing private companies. For more information on equipment leasing or financing, to get an instant quote or explore career opportunities, visit www.Taycor.com or call (310) 568-9900.