Message from the President

Did You Know?

80% of U.S. companies lease all or some of their equipment.

American businesses are projected to exceed $208 billion in leasing volume in 2004.* *ELAonline.com

Many businesses lease to protect their cash flow. Leasing permits a close matching of rental payments to the revenue produced by using the equipment. Thus leasing keeps debt lines open for working capital rather than tied up in capital expenditures. Depending on business factors, companies make money by using the equipment, not by owning it.

However, the most common reason why companies lease is flexibility. In today's business climate, the only certainty is change. Businesses must remain flexible in their approach as the business grows, changes, and adapts. Leasing allows a company to focus on its core business - not managing equipment. Leased equipment can be added, deleted, or upgraded as dictated by changing market conditions.

The Leasing Edge

Creative financing helps sell more equipment.

We have vendors selling stenography, video conferencing, material handling and cleaning equipment, copiers and software all using creative financing to help them sell more equipment.

The creative financing programs range from 0% to 5.9% financing, to seasonal, skip and step-up payment plans. Is there a plan that can work for you?

If you offer cash discounts the answer is probably yes! Instead of offering the customer the typical cash discount, use those dollars to create interest by buying down the lease rate. Our experience with structuring creative financing programs is vendors do not have enough mark up to be able to offer cash discounts, as well as discount their invoice to buy down the rate.

As a consumer you may have been inspired to make a purchase in recent years due to some form of creative financing. Automobile manufactures have now extended no-interest/0% financing plans to 60 months to stay competitive. Credit card companies are promoting 0% introductory offers for the first six months to a year to capture more business. Go to any electronic, furniture or appliance store and buy today and make no payments until 2005. You can't go anywhere without seeing creative financing advertised.

Lets face it we make purchases because we perceive we have received a good value. Your customers are no different, and creative financing may create that perception. Additionally, creative financing differentiates you from the competition. Take a moment to call your Patriot Leasing representative to see if the economics work for you. A customized creative finance option may be the answer to getting you off to a great start in 2004!

Donna Hess was named Employee of the Year for 2003. Donna has been with Patriot Leasing since it's inception in 1997 and she works in our Vendor Service area.

We welcome yet another new employee, Tammy Miller to our group. She started January 20, and will be working in our Customer Service area.

Congratulations to Joe Grines for the purchase of his new home.

Congratulations also to Donna Wesemann on her promotion to Sales Manager.

HUMOR
One day in New York City, a banker was driving his new Jaguar down the streets. He parked it and opened the door to get out. Suddenly a taxi went by and ripped the door off. The driver reported this to a nearby police officer.
The officer saw the whole thing and said "You bankers are so involved in your possessions. You didn't even notice that your arm was ripped off as well" The banker stared at where his arm used to be and said "OH NO! My new Rolex is gone too!"