Taycor Financial Partners with Under Par Finance to Expand into Canada

Many friendships and business deals have been formed on the greens of a golf course. The upcoming joint venture between Taycor Financial and Under Par Finance is one that follows the story of a random twosome that evolved into a friendship and now a partnership.

TORONTO, ON – EL SEGUNDO, CA (September 2018) Under Par Finance Ltd. (UPF) is a Canadian based equipment leasing and financing originator that has specialized in servicing the golf industry since their inception in 2016. Today they announced a strategic partnership with Taycor Financial, which will move towards expanding access to a larger network of lenders and product offerings as well as the utilization of technology and processes to better serve their customer base.

Ryan Cooney, the founder of UPF, attributes much of his success to the game of golf. Cooney joined the PGA of Canada, and spent 12 years as a Teaching Professional for the prestigious Timberwolf Golf Club in Ottawa. During that time, Cooney won the PGA of Canada Zone Championships twice; in 1998 and again in 2002. After retiring as a professional golfer, and while a professor at Humber College, Cooney was involved in various social agencies that aimed to deliver golf programs to at-risk youth throughout Canada. Cooney went on to create UPF as a way to leverage his vast network of today’s golf industry stakeholders with the new generation of golfing patrons and members.Golf statistics source: https://thefastlearners.com/

“We are excited to partner with the team at Taycor Financial,” said Ryan Cooney founder of Under Par Finance. “We will be in a much better position to serve the golf industry effectively and efficiently with the experienced operational team at Taycor. I believe our current and prospective clients will enjoy a more seamless experience from credit underwriting to the final funding stages. The additional financial products and technology resources will only serve to better position UPF as a full service financial solutions provider.” 

“It is a true honor to announce the joint project with UPF, and the partnership with Ryan Cooney and his team,” said Michael Hong President at Taycor Financial. “We have worked closely over the last few years, and this is an incredible opportunity for Taycor to expand our footprint into Canada as well as grow our golf portfolio. Taycor plans to continue to explore further growth into the social element of making the game of golf more accessible.”

Cooney will continue to operate Under Part Finance Ltd., as a joint operational entity of Taycor Financial, as Sr. Vice President.

About Under Par Finance Ltd. (UPF)

Founded in 2016, Under Par Finance (UPF) is a social enterprise designed to help golf centric businesses in North America grow through financial solutions that were missing within traditional and existing lending channels. UPF has an underlying core mission to provide access to golf to those who wouldn’t otherwise be exposed to the game while providing full spectrum access to capital equipment financing and business lines of credit. For more information about UPF visit www.underparfinance.com or call (647) 993-3863.

About Taycor Financial

Founded in 1997, with offices in Los Angeles CA and Boston MA, Taycor Financial is a fiscally sound and economically responsible nationwide provider of equipment leasing and financing to the business community. Taycor has also joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. 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.

Taycor: Project Community Update

Project Community

Taycor Financial is a part of the very community we seek to serve. Our customers are our neighbors, and we in turn are theirs. There is no success without community. Taycor: Project Community has been an initiative over the last years to not only give back, but to do so by supporting the passion projects of our very own team members.

Andrew Berkovitz is a member of The Executives (http://www.theexecutives.org) and has helped plan and prepare a Charity Poker Tournament which helps raise funds for the Los Angeles Jewish Home. Since their inception in 1992, they have helped raise over $10MM through various fundraising events. We are proud to have been a sponsor of the Charity Poker Tournament for the past 4 years.

Nicole Floge, Squire of Hope for St. Baldrick’s Foundation (https://www.stbaldricks.org), is in her third year of helping to organize the South Bay Chapter’s event held in honor of the Angel, Zack Willson-White. St. Baldrick’s Foundation wholly exists to conquer childhood cancers. Taycor is very honored to be a small part of those efforts.

Project Community is not all charity efforts, but also about being an active participant in our neighborhood. Taycor is a proud sponsor of the Aviation Little League (South Bay Little League) located within our local community, and recently cheered on neighboring companies in the PCT 3ON3 basketball tournament.

Taycor: Project Community has three pillars, Contribution, Participation, and Reputation. Reputation is important both with our customers, but also amongst our peers and partners. Taycor maintains membership and certification both in the National Equipment Finance Association (http://www.nefassociation.org), and the Certified Lease & Finance Professionals (http://www.clpfoundation.org). Recently our President, Michael Hong, Sr. Vice President, Drew Olynick CLFP and Vice President of Operations, Jill Winbauer, all attended the NEFA 2018 Finance Summit held in Las Vegas.

We are forever grateful towards the communities that have shaped us into the company that we are!

Melissa Young Joins Taycor as Vice President of Transportation Division

Melissa Young Joins Team Taycor

EL SEGUNDO, CA (March 1, 2018) Taycor Financial announced today that Melissa Young, formerly Vice President – Leasing at Bank of the Ozarks, will be joining Taycor as Vice President of the Transportation Division. Young joins the team with over 12 years of executive management experience in the transportation industry, and will bring insight as well as long established relationships to the growing division within the company.

“Melissa is an incredible addition to the Taycor family, and we are honored to provide concierge funding support to her partner vendors and dealerships,” said Michael Hong, President of Taycor. “I have no doubt that with her experience and personality that she will be extraordinarily successful in building up what was already a growing vertical market for the company.”

Young maintains a multi-million dollar book of business by embracing that contributing relationships are built one deal at a time, and augmented by superior customer service. “My goal is to be an integral part of a dealership’s success by serving as not only the preferred partner in finance, but also an advocate and expert,” said Young. “My focus is to match the finance product of greatest benefit to each customer with a memorable and pleasurable experience. There is no greater satisfaction to me than serving my partners and our customers with tailored options that fit their needs, and I feel that Taycor is the home that can provide the support and programs to make that happen.”

Young will begin representing Taycor immediately and will focus primarily on growing the medium and heavy-duty ( class 6, 7, and 8 ) commercial truck and vehicle asset portfolio. Prior to joining Taycor Financial by way of Bank of the Ozarks, Young held management titles for over ten years at Murphy-Hoffman Company (originally Ozark Kenworth) which operates over 100 dealerships across 16 states.

Melissa Young (myoung@taycor.com) Direct Dial: 310-895-7733

About Taycor Financial

Founded in 1997, with offices in Los Angeles CA and Boston MA, Taycor Financial is a fiscally sound and economically responsible nationwide provider of equipment leasing and financing to the business community. Taycor has also joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. 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.

Michael Hong Named New President of Taycor Financial


LOS ANGELES, CA (January 5, 2015) Taycor Financial announced today the appointment of Michael Hong, currently Vice President of Business Development, as its new President. Hong replaces Bob Skibinski, the original founder and owner of Taycor, who will continue on as Chairman in an advisory and mentorship role.

Bob Skibinski has been President and CEO since 1997, when he founded the company. During his long and distinguished tenure, Skibinski has lead the company through a sustained period of tremendous growth and success in both the way they service their customers and vendor partners, but also in the nationwide reputation of the firm.

“It has been a pleasure growing the company to where it is today,” Skibinski said. “It has been an exciting journey. I will always value the relationships and friendships I have made with our lending network, equipment leasing peer community, vendor partners, and countless customers over the many years.”

Among other noteworthy achievements, Skibinski’s legacy includes navigation of the company during times of growth, Taycor made the INC 500 list of America’s fastest growing private companies as well as incredible resolve and artful management in weathering tougher economic climates.

Michael Hong began his career in equipment leasing and financing in 2001 as a Marketing Manager for an east coast company. Hong transitioned and gained experience through multiple roles at the company finally serving as VP of Business Development before moving to the west coast. He joined the Taycor family in 2011, and has been responsible in recent years for the company’s development initiatives in providing a more streamlined customer experience as well as the overall growth of the organization.

“It is an honor to assume the role as President,” said Hong. “Taycor is an amazing company with a powerful mission and passionate culture. I am excited to be a part of a talented team of professionals that work together in collaboration with the small and medium sized business community. Bob Skibinski has been an incredible teacher and mentor, and I will strive to continue his tradition of excellence.”

“I believe that Michael Hong’s leadership, and many years of trackable success and innovation, will benefit the company through this next phase of growth and evolution,” said Skibinski. “He has a solid record of success and achievement, and is the right leader to ensure that Taycor remains a nationwide leader in the equipment leasing industry, now and well into the future.”

About Taycor Financial

Founded in 1997, with offices in Los Angeles CA and Boston MA, Taycor Financial is a fiscally sound and economically responsible nationwide provider of equipment leasing and financing to the business community. Taycor has also joined the ranks of America’s top businesses, establishing itself as one of the premier equipment financing companies in the U.S. 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.

Taycor Financial Hires Newly Graduated Student from Loyola Marymount University

Taycor Financial, one of the nation’s leaders in equipment leasing and financing, announced today it has hired Quincy Felipe to the position of Lease Administrator/Transaction Coordinator.

Ms. Felipe recently graduated this May from Loyola Marymount University with a Bachelor of Business Administration degree in Finance. She started working as a Marketing Intern at Taycor Financial in November 2011 and has since then moved both upward and horizontally throughout the company’s departments. Over the years she found a home within the company and is now in a position where she can effectively utilize her skills and strive even further.

As each year passes, new graduates face greater challenges in starting a career and finding a full-time position straight out of college. With so many industries to choose from, most graduated students find themselves at a crossroad, unsure of which direction to go in next. Among these industries is equipment leasing and financing, which is very small in comparison to others and is often overlooked during the selection process of new careers. In a recent interview, Ms. Felipe describes her personal experience in deciding her next step in her career and how she found herself in such a small and specified industry.

“I’m 21-years-old and like most others in their early twenties, I’m still searching for my true calling. I was recently part of recruitment effort at recent career fairs and was able to talk to other recent and soon-to-be graduates about their future prospects. I realized that no one really knows exactly what they want to do at this age, and even if they do, there is still so much time and room for change. I embrace the unknown and am excited at the possibilities it holds. Equipment leasing isn’t where I thought I would end up, but it turned out to be exactly where I want to be at this point in my life.”

Although working in the equipment leasing and financing industry may not have been her dream when she was five years old, she is pleased to begin working full-time for a company that is she is already comfortable with and that supports her future growth and success.

“When choosing where to work after graduation, although knowledge and skill relevance are important, I think it all comes down to good company culture. Over the years, I’ve been able to move around the company and see where I can be most valuable. Management was flexible and understanding while I was in school and always very supportive of what I wanted to do. I am very happy at Taycor and thankful that I’ve been given the opportunity to work in an environment that will help me continue to learn and strive.”

Ms. Felipe applied for an internship position at Taycor Financial in November 2011 through her university’s online job posting website. She worked as an intern in its marketing department until the following summer. In June 2012, she was given the opportunity to switch departments and assumed the responsibilities of a Junior Credit Operations/Analyst position. She continued in this position until her recent promotion to Lease Administrator/Transaction Coordinator.

In the new position, Ms. Felipe works in the Credit and Funding Department where her responsibilities include processing applications, analyzing personal and business credit reports, bank statements, and tax returns prior to bank submissions, creating lease and finance agreement packages, communicating with lenders, customers, and vendors regarding transactions due for final funding, and other various administrative work. She started working full-time immediately after graduation and the Taycor Team is very pleased to have her on board. At Taycor Financial, company growth and employee growth are synonymous and it strives in creating the best opportunities and experiences possible.

“We have deep ties to helping grow the next generation of equipment leasing professionals both in the account executive vertical as well as operations,” said Founder and President, Robert Skibinski.

Over the past couple of years, Taycor Financial has made valiant efforts in changing some habits, as it is a 20-year-old company. The company began its renovation by introducing new methods, changing various operational procedures, and utilizing new technology to make certain tasks easier than the old-fashioned manual way. When Ms. Felipe first joined the Taycor Team, the company was just beginning to take on its shift. By the time of her arrival, she was able to witness these changes and be involved in the growing process.

“One of the best things about working at Taycor has been watching it shift from its older ways of doing things into a more innovative state. I was involved in decisions regarding overall company operations and helping evolve our back-end CRM system. I’ve seen the company grow immensely in the past recent years and it feels great to know that I was a part of that.”

Now that the company has updated its operating procedures to a greater level of ability and efficiency, it is ready to take the next step in growth and success by expanding its professional base. Ms. Felipe is one of a few new hires at Taycor Financial. As she begins her full-time employment working in credit operations, two new account executives have also recently joined the team, and the company plans to bring in a few more in the upcoming months.

About Taycor Financial

Taycor Financial was founded by Robert Skibinski in 1997 and has since then grown into one of the nation’s leading companies in the equipment leasing and financing industry. The company serves a wide variety of small and medium-sized businesses across the country. Over the years, Taycor Financial has refined its process, programs, and services to reach the ultimate goal of exceptional customer satisfaction. For more information about equipment leasing and financing, visit http://www.taycor.com.

2014 Changes in Section 179 Deduction

As one of America’s top equipment leasing and financing businesses, Taycor recognizes the opportunities that lie in Section 179 and provides small businesses with updated official details and easy to understand information regarding the tax law. There are some drastic changes coming up for the 2014 tax year and it’s important for taxpayers to be aware of these changes so they can better prepare.

What is Section 179?

Section 179 of the IRS tax code allows businesses to deduct the full purchase of qualifying equipment and/or software purchased or financed during the tax year. Meaning, if you buy or lease a piece of qualifying equipment, you can deduct the full purchase price from your gross income. It is an incentive created to encourage businesses to buy equipment and invest in themselves. Today, millions of small businesses are taking action and getting real benefits from Section 179.

The following lists some of the most important details for the 2014 changes.

  • 2014 Deduction Limit = $25,000 (New and Used Equipment, as well as Software).
  • 2014 Limit on Equipment Purchases = $200,000 (This is the maximum amount that can be spent on equipment before the deduction available to a company begins to reduce).
  • 2014 Bonus Depreciation = EXPIRED

In 2014 the Section 179 expensing limits are expected to restore to its original limits of $25,000 while investment limits fall to $200,000. This is a significant retreat in comparison to the $500,000 expensing limit and $2,000,000 investment limit that taxpayers had available between 2010 and 2013. In previous years, qualified real property was eligible for Section 179 expensing, however that rule currently has not been extended. Starting in 2014, qualified real property will not be eligible for Section 179 expensing.

In addition to the Section 179 expensing limits, bonus depreciation will expire as well. Taxpayers have expected it to expire in previous years and Congress has continued to extend it, but it looks like bonus depreciation is coming to an end.

Although these are drastic deductions in comparison to what Section 179 presented in 2013, businesses can still take advantage of the law’s benefits. All businesses that purchase, finance, or lease less than $200,000 in new or used business equipment during the 2014 tax year should qualify for the Section 179 Deduction.

How to take the Section 179 Deduction?

Section 179 Deduction is not automatic. If you are a small or medium-sized business owner who has purchased, financed, or leased equipment in 2014 and placed it into service during the year, then you need to elect to take the Section 179 Deduction to ensure that your business captures the available tax savings.

You can elect to take the deduction when you file your tax return for the year. To do this, you simply fill out Part 1 of IRS form 4562 and attach it to your tax return. The form is available for free at the website listed above or your tax preparer can easily take care of the form for you. As mentioned previously, most equipment and software is going to qualify for the Section 179 Deduction. You can verify your equipment by reviewing the list on the Section 179 website.

To get the deduction for 2013, you must act this year. Once December 31, 2013 passes, Section 179 can’t increase your 2013 profits anymore.

Does purchasing instead of leasing equipment create greater advantage of Section 179?

No, companies can lease equipment and still take advantage of the Section 179 Deduction. Leasing equipment or software with the Section 179 Deduction is a preferred strategy for many businesses because it can significantly help with both cash flow and profits. Inevitably, the amount you deduct will exceed your cash outlay for 2014 when you combine a properly structured Equipment Lease or Finance Agreement with a full Section 179 Deduction. You can deduct the full amount of equipment or software without paying the full amount this year. The amount saved in taxes can actually exceed the payments. In other words, the deduction will actually be more profitable.

How can Taycor help?

Taycor understands the importance of Section 179 and wants to help its businesses take advantage of the opportunities of 2013. Taycor is a fiscally sound and economically responsible partner for all your equipment leasing needs. The company specializes in all types of new or used equipment, vehicles, or software purchases from $5,000 up to $5,000,000. Go to http://www.taycor.com to use an instant calculator and estimate your tax savings on your 2014 equipment purchases.

Humanitarian Efforts in Oaxaca, Mexico Inspire New Taycor Financial: Project Community Program

Taycor Financial Project Community in Oaxaca Mexico

Having specialized in medical and dental equipment leasing, Taycor Financial has created many lifelong business relationships. Recently, the company was given the opportunity to partner with those same professionals in a rather heartwarming way.

LOS ANGELES, CA (NOV. 8, 2013) – Taycor Financial sponsored a humanitarian relief trip to Oaxaca, Mexico in late October to provide health services to those in need while training and mentoring local medical and dental students.

Taycor Financial Equipment LeasingTogether with dentists, doctors, and other medical professionals, the group ventured on a three-day endeavor that inspired a new program for the equipment leasing and financing company, called Taycor Financial: Project Community.

“We were approached by a group of professionals that we had previously provided medical equipment leasing for,” said Michael Hong, Director of Business Development at Taycor Financial. “They were going on a humanitarian relief effort to bring medical and dental care to a remote village in Mexico. From this partnership, the Taycor Financial: Project Community Program was born.”

Treatment teams consisted of three dentists, three doctors, and about 10 other support members. Each day had the same schedule. After a 6:00 a.m. wake-up call, the visiting professionals were greeted with breakfast cooked by volunteers. They spent the day treating patients with an hour-long lunch and resting period in between, followed by dinner at the end of the day. At sun down, it was time to close shop until the next morning.

Taycor Financial Equipment FinancingThe destination was approximately four hours up and down mountain ranges and along dirt roads from the Oaxaca airport. The visiting travelers stayed in an empty cement building and slept on straw mats, the most generous accommodations town officials could offer.

It was a struggle to transport the amount of people, equipment, and supplies that were needed for this three-day clinic. The students did not know each other prior but quickly became acquainted and worked well together to help this process along.

“Traveling to Mexico to treat patients isn’t something you’d expect when working in the medical and dental equipment financing side of things,” Hong said. “It felt great to bring a group of people together from different walks of life for the benefit of the village in Oaxaca. With Taycor Financial: Project Community, we hope to continue making a positive impact on those who do not have the luxuries that we are fortunate to have.”

In the process of providing health care services to the villagers, local students were given the opportunity to be mentored by doctors and dentists so that they, too, can continue to help contribute their medical and dental services.

If you would like to join Project Community, please contact community@taycor.com. Your partnership with Taycor Financial could make an incredible difference in the lives of others.

Taycor Financial Building CommunityAbout 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 United States. 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.

Interview Highlight: Yael Serena, International Internship Program

Taycor Financial is a leading service provider in the equipment financing and leasing industry. In order to provide customers with the best programs, rates, and overall experience satisfaction, Taycor Financial understands the importance of having a strong and supportive team of leasing professionals that work together to fulfill these goals. Whether hiring a new Senior Account Executive or a Summer College Intern, Taycor Financial ensures that every employee is a perfect fit.

Taycor Financial recently hired a handful of interns for its new International Internship Program. Yael Serena is one of the new international interns and this was her interview.


Describe yourself in a few words.

My name is Yael, I am 23 years old, and I am from Barcelona, Spain. After finishing my studies I was determined to gain international work experience in one of the most developed countries in the world so I came to Los Angeles.  Currently I am taking part in a one-year international business internship program with Taycor Financial.

Why did you decide to come to United States instead of other countries?

I came to the United States two years ago as an exchange student and I fell in love with the American lifestyle and its people. I have always admired the American mindset that anything is possible if you work hard for it. Furthermore, I wanted to get hands-on experience of American business practices.

How was the transition from college to work life?

When I graduated from college it was difficult for me to decide which field I wanted to set my focus on. I envisioned my career in management but I was not sure if I wanted to pursue a marketing or finance oriented career. During the transition period I had some time to mull over all of my options and eventually decided to focus on marketing since it is more consumer-orientated.

What do you like to do in your free time in Los Angeles?

I have always loved photography but I never really got seriously into it. I recently got my first DSLR camera and I am now taking the time to learn digital photography on my own. It is not an easy task since my camera has a multitude of different settings that I need to understand in order to shoot in manual mode. In the meantime, I also try to sharpen my skills in post-processing using Photoshop – one of the most prestigious photo editing pieces of software on the market.

In addition to photography, I also like to search for delicious recipes and try to cook them in my own way. I am getting very good at cooking Spanish recipes now that my mom does not cook for me anymore. Every time I try a new recipe I take a picture with my camera and send it to my family to make them jealous!

Where was the most beautiful place in Los Angeles that you took a picture?

It might sound a little cliché, but I honestly think that the best place to take a picture here is at the beach. I am lucky to live so close to the ocean so I frequently grab my camera and practice my photography skills there.  One of the best shots I have taken so far has been the California sunset with a silhouette of a lifeguard standing in the background. I think it makes me so proud because it was the first time I used manual camera controls instead of the automatic mode.

What are some of the typical American things that you have experienced so far?

During my first weekend in the United States I took a 28-hour nationwide road trip from Minnesota to Los Angeles. This gave me the chance to drive through many cities and see the diversity of each state. I also got to attend a Dodgers game and enjoy one of the most popular nationwide sports! Even though I was not able to completely understand the rules of baseball, I had a lot of fun experiencing a part of the American culture.


What is your educational background?

I graduated from ESADE Business School in Barcelona with a Masters in Business Administration and a concentration in Finance. In addition, I studied International Marketing at The University of Illinois at Urbana-Champaign in 2011.

Why did you decide to do an internship at Taycor Financial?

The job opportunities for recent graduates in Spain were not very encouraging and it was hard to find a job that fit my interests. Doing an internship with an American company will provide me with a solid base to further develop my professional career for the future and gain international work experience. Taycor Financial was the best fit for me since I am interested in both Marketing and Finance. During my studies I took some leasing and finance courses, and this internship provided me with the opportunity to see how an equipment leasing company operates.

How did your previous internships prepare you to work at Taycor Financial?

My previous work experience at PepsiCo taught me the importance of teamwork as a way to accomplish a company’s goals. Furthermore, I learned how to manage many different projects at once and prioritize them by importance. Even though I did not work in an equipment leasing company prior to coming here, I believe the skills acquired by my previous internship plus my personal desire for growth will be a valuable contribution for Taycor.

How was the process of getting an internship in the United States?

It was not so easy to secure a job opportunity with a nationwide company in Los Angeles because there were strict regulations that I needed to abide by in order to get through. The process started with a placement agency that put me in contact with potential host companies which offered marketing positions. After accepting the internship with Taycor, I contacted a sponsor to start all the paperwork required to apply for the J-1 Visa at the Embassy. The final step was going through the U.S. Customs & Border Protection at the airport and an interview with an officer.

What is it special about the business culture at Taycor Financial?

The culture at Taycor is not what you would expect from a traditional equipment leasing company. People come to the office in informal casual clothes and the work atmosphere is more like what you would find in a start-up company. Everybody is very welcoming and supportive, and the company also organizes events to promote good working relationships such as pizza parties and rock climbing.

The big players in the equipment leasing industry usually have inflexible business models and a rigid way to operate; however, Taycor is always looking for new innovative ways to conduct business.


What do you expect at the end of this internship?

My goal is to create a solid platform for my future career and personal development. I believe this experience will allow me to stand out of the crowd once I return to Europe to find a permanent job. I am looking to gain a deeper understanding of the equipment leasing industry and improve my current knowledge on marketing techniques.

Where do you see yourself in five years from now?

I see myself working as a marketing associate with a nationwide firm that provides me with opportunities to work on advertising campaigns and international branding. Moreover, I would like to study an MBA in International Marketing to develop the critical knowledge and competencies in the analysis and solution of problems encountered in international marketing.

Would you like to settle down in the United States after the internship?

This country has some of the largest marketing companies in the world so it would be a great opportunity for me to start my career here. However, in the long-term perspective I would prefer to return to Europe to accomplish my professional goals.

Would you be interested in creating your own photography business someday?

I am just an amateur photographer trying to learn as much as I can about digital photography. I devote my free time to it because I feel peaceful when I am behind the camera capturing beauty and in addition, it allows me to be creative. At this moment I just see photography as a hobby of mine and I do not plan on making a living from it. However, who knows what the future holds for me.



Latest Beige Book Report Sparks Optimism

Regardless of the current stance of the economy, business people remain optimistic about the future. Consumers have defied the expectations of decreased spending and continue to make big purchases including cars, houses, and services. The Federal Reserve’s new Beige Book summary reflects conditions across the country and reported “modest to moderate” improvement since the last report in July.

The Beige Book is a report that is published about eight times per year. Each Federal Reserve Bank gathers information on current economic conditions through reports from banks, branches, business contacts, economists, market experts, and other related sources. The Beige Book summarizes all this information and an overall report is of the twelve districts is prepared. It evaluates consumerism in all areas including retail, tourism, manufacturing, real estate, construction, banking and financing, agriculture, technology services, transportations, and so on.

Here is what can be summarized from the latest Beige Book release on September 4, 2013.

  • Consumer spending rose significantly with strong demand for automobiles and other household goods.
  • Tourism and travel remained strong in most districts, however some noted challenges from bad weather.
  • Manufacturing activity expanded in most Districts, with many reporting increases in new orders, shipments, or production.
  • Residential real estate activity continued to strengthen at a moderate pace in most districts.
  • Lending activity was mixed. In most districts, credit quality improved while credit standards remained unchanged.
  • Agricultural conditions varied with weather patterns across the country. Some districts suffered from agricultural conditions deteriorating due to droughts.
  • Labor market conditions improved slightly, although several districts reported restrained hiring.

Although the report covers countless industries, this article focuses primarily on the reports in banking and finance.

In the banking and finance industries, it was most recently reported that loan demand plateaued or slightly decreased across all districts. On a positive note, while lending standards were largely unchanged, credit quality improved significantly. Asset quality also improved at banks in most locations and most lenders reported high competition for qualified borrowers. With consumer spending continuing at a steady pace, businesses keep high hopes for the future and expect loan demand to increase more rapidly. Although lending activity slightly weekend in the past couple months, businesses expect better economic conditions and stronger profit growth to come.

With the release of the Beige Book, Taycor Financial reflected on its recent experiences and compared expectations to those in the report. Overall, the results were similar, however the company keeps high hopes for the future. Taycor Financial has seen increased competition, as well as more flexible borrowing standards and higher approval rates in the recent months. More borrowing was taking place at the start of 2013 compared to what has been seen in previous years. Taycor Financial, like other finance companies, remain optimistic for the upcoming final quarter.

About Taycor Financial

Taycor Financial was first founded in 1997 by President and Founder, Robert Skibinski. Since its opening, the company has grown into a top competing firm in the equipment financing and leasing industry. Taycor Financial serves a wide array of small and medium-sized businesses in all industries across the nation. Over the years, Taycor Financial has refined its process, programs, and services to reach the ultimate goal of exceptional customer satisfaction.

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.