Developing Strong Leaders for the Commercial Equipment Leasing/Financing Industry
Weekly Sales Tip for Financing/Leasing Originators .
Credit Aptitude
Can you be a top producing originator in the commercial equipment leasing and finance industry without a comprehensive understanding of credit underwriting?
Absolutely NOT!
A complete understanding of credit underwriting is necessary to win the "right" transactions, to be an effective financial advisor, and to be a top producer in the industry.
Top producers are able to:
Review a transaction and make a valid recommendation of why a transaction should be approved or declined
Articulate to vendors and end-users the credit criteria used by their employer or funding sources
Package a complete transaction for credit review
Pre-qualify transactions
Anticipate the additional information or collateral that may be needed to secure an approval
Go beyond an application-only mentality and actually understand tax returns and financial statements.
Average originators are often frustrated by credit analysis. It is not because the analysts are making poor decisions. In many instances, it is because the originator has a poor understanding of the credit process. Top originators want their credit departments to make sound credit decisions. They want their credit departments to protect them from delinquent accounts. Top producers work closely with their credit departments and participate in making sound credit decisions.
As a commercial leasing and finance originator, how well do you know your credit process? Your credit criteria?
