How Some Banks Are
Easily Making Money
and Helping Their Customers by Bell Bank, an ICBSD Preferred Partner
Some community banks are missing out on a money-making opportunity, and Mike LaSalle wants to help remedy that situation. As Bell Bank’s SVP/equipment finance bank channel director, Mike works with community banks on ways Bell can help you better help your customers. Most small and medium businesses occasionally lease equipment, and a majority of those businesses use community banks as a source of capital and borrowing – yet community banks hold only 1% of leasing assets in the United States. “Community banks have been sitting on the sidelines while their customers are leasing from competitors,” Mike remarks. “Bell Bank Equipment Finance allows community banks to partner with Bell to meet existing customers’ demands and prospect for new business and customers.” Community banks don’t usually offer equipment leasing, because of the complexities associated with structure and documentation as well as costs of building infrastructure with lease accounting systems. But by partnering with Bell, community banks can To find out more about how Bell Bank equipment finance can help you and your customers, contact Mike at MLaSalle@bell.bank or 952-905-5155.
take advantage of Bell’s expertise and full suite of leasing products, while generating significant income from referral fees or, should they wish, from purchasing the transaction back through a participation. “We’re more than happy to come in and price, structure, document and service the lease from start to finish, while the asset sits on the community bank’s balance sheet,” Mike notes. “The customer gets the lease, community banks keep the earning asset, and Bell does the work – at no cost or obligation to the community bank.”
28 The bottom line
