|
Marketing Tip | Sample Deal | Weekly Survey
Program Advantage | Same-day Approvals
Dear Broker, here are your updates for this week...
M a r k e t i n g t i p
Free resources available to help build your business
Last week SunBridge Capital hosted eight online presentations, and hundreds of you attended. Thank you. The responses to the follow-up surveys show that you found the information useful. Over 90% of you said the information in the presentations would help you do more business, which at the end of the day is why we are all here. But the opportunity to build skills and knowledge extend far beyond our presentations.
Many Web sites offer information-rich content for the sales, marketing and business professional. The quality and relevance of the information certainly varies. While some sites are mere veils for up-selling you on the site producers' products or a vehicle for selling online ads, other sites embrace the concept of earning your attention and loyalty by offering truly valuable and unique information. By accessing these sources of information, you will augment your skills and learn the latest sales and marketing tactics.
From software skills for information management and Web site building, to sales and marketing tactics and best practices, AllBusiness offers dozens of brief and actionable online education "mini-courses." Find them at http://education.allbusiness.com/.
Focused heavily on finding and leading staff members as well as business basics from office administration to marketing to taxes, FindThat offers dozens of free articles that focus on real-world business challenges and their solutions. Find them at http://www.learnthat.com/business/.
Speaking of taxes, take the opportunity to get a great "return" on your annual investment in Uncle Sam. The Small Business Administration has free online courses including starting a business, managing a business, strategic planning, human resources, marketing and sales methods and ideas, and, you guessed it, Federal business regulation and taxes. Find them at http://www.sba.gov/services/training/onlinecourses/index.html.
For a few dollars a month, you can access the extensive library of tutorials on www.Lynda.com. Generally accepted as the best site for teaching non-technical professionals how to design for both offline and online marketing pieces, this site can teach virtually anyone to be their own marketing department. Their online tutorials are broken into easily digestible blocks of just a few minutes each.
The broker associations also offer great information, so be sure to take a look at their online resources.
Just as we heard in the feedback from our online presentations, a few new ideas and some fresh thinking can make a big difference. Take advantage of the free online information above as well as the many other sources available to continue to build your company through extending your skills and knowledge. The one big idea you have been looking for just may be free and waiting for you online.
For recorded versions of SunBridge Capital's online presentations, just visit www.SunBridgeCapital.com/Tutorials.
Want more marketing tips? See more.
S a m p l e d e a l o f t h e w e e k
Strong commission and low monthly payment for average credit guarantor on fuel/lube trucks
SunBridge Capital is able to offer you the unique program attributes of app-only to $250k, always up to 10 points commission, credit scores as low as 600, never additional collateral required, rapid credit decisions, and more, because of our asset-focused approach. Below is a sample deal we funded this week for two fuel/lube trucks, which are particularly favorable assets to us:
Average Trans Union FICO: 680
Verified time-in-business: 5.8 years
Assets: Two 2003 fuel/lube trucks
Amount financed: $114,898
Documents needed for credit decision: online application
Monthly payment: $2,788 (rate factor of 0.024)
Requested broker commission: 10 points = $11,490
Funding status: Booked
More information on SunBridge Capital's credit programs.
Want more sample structures? See more.
S t a t e o f t h e i n d u s t r y
How often do you and/or your team participate in skill-building activities?
Vote now to see how you compare to your peers.
(If you are one of the first respondents, check back later to see more developed results. All responses are anonymous.)
P r o g r a m a d v a n t a g e
Fewer documents in lease package starting today
SunBridge Capital is excited to announce a simplification of the documentation process by condensing, and in some cases removing, pages in our standard lease document package. The following changes are effective today (existing lease documents should be fully executed in the same format as they were generated):
- Removal of Power of Attorney for transactions containing only non-titled assets. A POA will no longer be required on these deals.
- Migration of the Notice and Acknowledgement of Assignment from its own page to the bottom of the Schedule A, decreasing the number of pages by one. The single new document will require a full, original signature.
- Migration of the Acceptance Notice from its own page to the bottom of the Schedule B, reducing another page from the document package. This page will also require a full, original signature.
The condensing and removal of documents is intended to make it easier for you to complete transactions by abbreviating the document execution process and reducing the opportunities for errors on lease documents.
A i m i n g f o r t h e s a m e - d a y a p p r o v a l
Recalibrated credit model beginning this week
The credit model used to evaluate your transactions at SunBridge Capital has been updated to reflect the performance of the leases in our portfolio. As we have all witnessed in other financial sectors, the changing credit and economic landscapes require ongoing evolution of how and why we approve, decline and price new financing transactions. All major credit models - from Fair, Isaac (FICO) to Dun and Bradstreet - practice ongoing validation and adjustment of their credit modeling.
SunBridge Capital uses credit modeling to allow for the maximum range of opportunity across the credit spectrum while minimizing credit risk. The recalibrated credit model has several results, including fewer asset-specific restrictions as well as even more predictive accuracy. Our comprehensive analysis of the effects of the recalibrated model indicates the percentage of applications we approve will not change significantly and may increase, however on a deal-by-deal basis, you may notice the difference as we have adjusted the relative weighting of the components we score in our model. Some deals will score better than expected, while others may not. Existing approvals are not affected by the updated credit model.
The greatest benefit to you of the recalibrated credit model is the removal of asset-specific criteria for several types of trucks and equipment. The following types of trucks and equipment are now eligible for approval under our standard guidelines across all five of our programs as shown in the "Rates and Terms" and "Credits and Assets" sections of our online broker kit. AppBuilder's built-in previewing rules are updated to reflect these changes. These assets are now eligible for approval in our Tier 3 and Start-up programs as well as our Tier 1, Tier 2 and Corp-only programs:
- Tow trucks
- Van delivery trucks
- Pavers, curbers and asphalt compactors
- Bucket trucks
A second benefit to you is the more intuitive approach to deal sizes. Simply put, smaller transactions now perform better in our credit model.
Our standard guidelines remain unchanged - minimum FICO for consideration is 600, bankruptcies must be older than seven years, and the minimum score in our credit model for most asset types is 390. Our guidelines for over-the-road assets are simplified to one set of criteria for all of these assets, which include sleeper cab tractors, day cab tractors, van body trailers, refrigerated trailers and car hauler trucks and trailers. The guidelines for these assets are Tier 1 or Tier 2 program credit and corporation or LLC status at the time of application. Dump trucks and end-dump trailers will likely be approved for Tier 1 and some Tier 2 program applicants. (Visit our site for explanations of our programs and complete guidelines.)
The credit and asset information published in our Spring/Summer Program Guide continues to be a strong previewing tool. We encourage you to continue to use it as such. Our online broker kit has been fully updated to reflect the recalibrated credit model. We appreciate your ongoing business as we continue to improve our business during changing market conditions and continue to thrive through our support of the brokers who participate in our programs. | 