A Creative Job Description
By Kevin F. Clune, CLP
“What do you do?” is a common question that we all receive. Depending on the audience, my mischievous voice is tempted to say that I am a lion tamer or a private investigator. However, I have been advised to stick to the truth and be prepared with an elevator speech about Clune. This task has been quite a challenge for me since the leasing industry is widely encompassing, hard to explain, and, let’s face it, sounds unexciting.
According to the Equipment Leasing & Finance Association, “Equipment finance not only contributes to businesses’ success, but toU.S. economic growth, manufacturing and jobs. Each year American businesses, nonprofits and government agencies invest over $1.2 trillion in capital goods and software (excluding real estate). Some 51%, or $628 billion, is financed through loans, leases and other financial instruments.America’s equipment finance companies are the source of such financing, providing access to capital. Equipment finance companies also finance the export ofU.S. manufactured products abroad.”
This is impressive but too complex for a short, concise answer. If I could distill this broad explanation, I might be able to state with a straight face that I am in the Oil Business.
After all, the infusion of capital through lease finance products provides the lubricant for our economy. Based upon this month’s interview Jeff Morgan, an owner of Morgan Miller Plumbing, he attributes the growth of his business to the acquisition of vital equipment.
For Mr. Miller, lease financing offered an alternative to traditional means of acquiring necessary capital equipment. The leasing industry exists due to the benefits it provides:
- Easier/ Quicker/ Hassle Free
- Hedge against obsolescence due to ease of technology upgrade.
- Preservation of bank credit line for other purposes. (Banks may decline loan for capital equipment.)
- Provides a financing tool for Vendors of equipment.
Rather than spout all this technical information, perhaps I should state that I am a Builder.
However, since these two vocations have not really captured the essence of my endeavor, I should state that Clune & Company is a 55 year old family-owned, independent, leasing business that provides capital equipment lease financing products to vendors of capital equipment and businesses who want to acquire equipment. We take pride in being self regulated in a largely unregulated industry. Yet I fear another glassy-eyed look.
At the risk of losing the attention of my innocent questioner, I think I should simply state that my business provides clean oil to risk takers who want to build and expand their business. It even sounds environmentally friendly!
I would love to know how you describe yourself.
Kevin F. Clune, CLP
Clune & Company
