A Career in Equipment Finance: What Do We Have Here?
Dealing with machinery and equipment can be quite challenging. Okay, who
am I kidding; equipment financing is as tricky as they come. Without
proper and sufficient knowledge about the subject it would be wise not to
engage in this line of business, although, the same can be said when you
go into business.
Do not go blindly forward or else you’ll end up broke. With regards to
equipment financing, it would be best to have someone who underwent
financial management training to help out with the general finances.
Having a career in equipment finance is something that is worthy to
When we talk about equipment financing, we’re not limiting ourselves to
leasing or renting huge cargo trucks or heavy construction equipment.
There is a lot of equipment leasing being done out there and they are not
limited to big units. Although, most of the equipment being rented or
leased by companies in the industry include planes, landing facilities,
even trains and railing equipment, smaller units like computers are also
Even office printing equipments are being distributed for lease. If you
can’t believe that, then be aware that different kinds and pieces of
office furniture are also being rented and leased. All of these are
considered part of equipment financing products and fall under equipment
Equipment finance is not all about the equipment and details of the lease
and contracts though; it is also about the end users. For the end users,
they can choose among commercial financing, public sector financing, and
small business financing as a means for equipment financing. These are
usually the kind of financing schemes that people end up applying for.
Aspiring to be a financial career professional in the field of equipment
financing and leasing, you may want to get familiar with these schemes as
well as concepts of lenders, investors, manufacturers and especially the
end-users of the equipment. It is certain that you will face all of these
elements during your career as a financial manager of equipment leasing
and financing company.
Moreover, with regards to the process of leasing and financing, knowledge
on existing legal obligations and accepted practices is also a key factor
in this business. You need to update your knowledge database and be sure
to know the latest ruling, restrictions, etc. It will make your life a
lot easier later on.
Furthermore, you should be able to identify the different kinds of leases
and should have an easy enough time understanding the concepts and
explaining them when needed. That is part of your responsibility when you
build your career in equipment finance.
Among the various transactions that you would encounter in an equipment
financing business includes conditional sales, transactions across
borders and between governments, different operating leases, the so
called single investor leases and many others. Keeping track of these
kinds of transaction are part of the job description of a finance career
professional in the field of equipment financing.
Providing innovative solutions to leasing problems and concerns is also
part of the services that an equipment financing company offers. There
are different kinds of work around to common problems. But at times,
despite all the solutions that implemented a total recall or
restructuring of the company would be the best solution.
In this regard, as part of the financial management team, you will
definitely have concrete responsibilities and essentially help in
improving the status of the company.
Having a career in equipment finance is not a walk in the park. You need
to work hard on it to achieve your goals and be someone in this field.
Every kind of career should be like that: work hard to become someone
recognized in your field.