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.

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 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.