Accelerating Collections: 5 Best Practices that Work
By Andrew Pace, Chief Client Experience Officer at Asset Compliant Solutions In the commercial lending and lease finance industry, efficient collections processes are vital for maintaining healthy cash flows and strong portfolios. As industry professionals, it’s crucial that we continuously refine our approaches to accelerate collections while maintaining the highest standards of professionalism and compliance. […]
Optimizing Loan Portfolio Performance: Strategies for Success
By Andrew Pace, Chief Client Experience Officer at Asset Compliant Solutions In the dynamic world of commercial lending and lease finance, optimizing loan portfolio performance is crucial for long-term success. As industry professionals, it’s our responsibility to continuously refine our strategies to maintain healthy portfolios while supporting our clients. Let’s explore five key strategies that […]
Avoid Wrongful Repossessions: 5 Steps to Protect Your Business
The High Cost of Wrongful Repossessions for Asset-Based Lenders Wrongful repossessions are costly. They damage relationships and reputations. They trigger lawsuits and costly settlements. And depending on where you do business, they can even result in regulatory enforcement action – even criminal prosecution. Too often, lenders assume they’re indemnified; that their repossession partners and agencies […]
What Mistakes Are You Making? 5 Critical Mistakes Asset-Based Lenders Should Avoid
Even in good times, asset-based lenders and lease finance companies often make costly mistakes that bleed profits, damage customer relationships, and tarnish brand reputations. When originations are up, watching deficiency balances skyrocket too is maddening. After over 25 years helping banks, captives and independents, we’ve identified 5 critical mistakes to avoid: Fortunately, there are steps […]
ACS Achieves SOC-2 Type 2 Certification, Doubling Down on Client Security
Asset Compliance Solutions (ACS), a leader in asset-based lending and lease finance solutions, has secured the prestigious SOC-2 Type 2 certification, solidifying their commitment to client data security. This achievement surpasses their previous SOC-2 Type 1, offering clients independent verification of ACS’s robust security practices. What is SOC-2? SOC-2 stands for Service Organization Control. It’s […]
Navigating Regulatory Risk Across Jurisdictions: A Guide for Asset-Based Equipment Lenders and Lease Finance Companies
Executives at equipment lending or lease finance companies know that regulatory compliance is crucial for their business’s success. Noncompliance can be extraordinarily costly – affecting not only overall financial performance, but your organization’s reputation and ability to generate new business. Aggravating the situation, regulatory variability across federal, state, and local jurisdictions makes keeping up challenging […]
Managing Risk in Your Fleet Loan Portfolios
Lenders and lease finance companies that finance fleets of ten to five hundred vehicles and/or equipment units know. The multiplied risk exposure you face in any environment demands proactive portfolio management. That’s especially true in today’s tightening credit environment. The increased risks lenders face today are the product of a variety of circumstances. The Federal […]
Navigating the Shifting Tides of Asset-Based Lending in 2024
In the dynamic world of asset-based lending, the winds of change are blowing. Recent buzz at industry conferences and in financial circles has been dominated by three key concerns: escalating worry over default rates, the decline in asset values, and an unmistakable spike in bankruptcies. Here at Asset Compliant Solutions (ACS), we’ve seen these conditions […]
Storm Clouds Gathering for Construction Lenders
Recent economic forecasts suggest difficult times may lie ahead for lenders who finance construction equipment purchases. As the industry enters its slower autumn season, experts predict rising delinquencies and defaults in this sector. Lenders who take preventative action now can mitigate risks and protect their bottom line. Research by the Construction Financial Management Association reveals […]
Getting Back to the Basics: Tips for Robust Collections and Asset Recovery in a Slowing Economy
Every week, we’re hearing from executives with asset-based lenders and lease finance companies. Business conditions have become much more difficult in recent months. Unfortunately, some are finding out the hard way that the levers they expected to use to enforce collections and recover assets in default may not be as effective as they should be. […]