Dianne thank you for taking the time to
share
your
expertise with us today. First, tell us a little bit
about TCF to frame the rest of our
interview.
Dianne: TCF Equipment Finance Inc.
provides a
variety of equipment finance solutions for the
hospitality and other targeted industries. We are a
wholly-owned subsidiary of TCF National Bank (TCF)
established in 1923, and can be found on the NYSE
(TCB). TCF Equipment Finance Inc. offers equipment
lease financing nationally. We are committed to
exceeding the needs of our vendors, sources, and
customers. We are dedicated to being experts at
what we do, and maintaining strong, personalized
relationships with our customers. We are well known
for the people side of our business, and are very
proud to have that unique quality in this day and age.
It is a rare quality. And how long has TCF been
in the hospitality
industry?
Dianne: We have been involved in hospitality
leasing for about the last 10 years - since 1997.
That’s a real history. Tell us why a company
would
choose to lease furniture fixtures and equipment vs.
buying outright?
Dianne: Leasing technology, furniture,
fixtures, and
equipment, is another avenue for funding purchases
and diversifying debt. In hospitality, our clients
spend money on a regular basis. Some of that
spending is planned and some is unplanned. Leasing
allows the client to leave their existing bank lines
open for other expenditures they may need to make.
Lease Rates are competitive, and, if you think about
it, it really does make sense to lease FF&E and
technology in a way that allows you to pay for it
over its useful life vs. stretching it over a longer term
mortgage or construction loan.
Makes a lot of sense. Now what should a client
look
for in a leasing company?
Dianne: The most important qualities in my
mind are
relationship and stability. There are a lot of
companies out there who sell the relationship part of
their business on paper. But when you actually pick
up the phone to call someone, you are directed into
a call center to speak with someone you don’t know.
Stability is essential; you want to make sure the
company you applied with is the same company who
will service your lease throughout the remainder of
the term. That company should also be there when
you need additional financing down the road. TCF
services its own leases and doesn’t sell them off.
You will speak to the person that is responsible for
your lease, whenever you have a question or a
problem.
The leasing company you choose should also be
established in the industry and should have
preexisting relationships with vendors.
So tell us what makes TCF a great leasing
company
to work with.
Dianne: Well, a recommendation from a
reputable
advisor like Hotel Finance Resource is a great
endorsement and an indicator of the quality of
service TCF offers to clients.
I like to think we earned that endorsement, in part,
because of the personal approach we take to our
business. Whenever you call about your lease, you
speak to the same person. We value our
relationships and we believe that personal attention
and consistency is the way to build and maintain
them. Our goal is to keep clients happy and coming
back to us.
Now, tell us about your role,
Dianne.
Dianne: In the case of HFR clients, I am the
dedicated Relationship Manager. I have been with
TCF for 10 years serving clients in the hospitality and
restaurant industries. I enjoy my work and my
relationships with my customers. My role is to help
people in making good decisions about lease term,
structure, and their specific goals regarding cash
flow/budgeting. I strive to service them in a way
that will allow them to spend their time worrying
about their daily business, instead of how they are
going to pay for equipment. Every day I ask myself
these questions so that I may incorporate these
goals in how I service my customers; What can I do
to make this person's life easier? How can I help
them be more profitable and competitive?
OK, I’m a potential client and I’m now sold on
leasing
(pun intended). What do I do?<br>
Dianne: The process is very easy. We have
a one-
page application that the client completes. Once we
have the application and any necessary info about
the project, the credit decision can be made in as
few as 4 hours. Once approved, we send the
paperwork overnight. TCF sends purchase orders,
handles invoices, and tracks the progress with
vendors. It saves the client a lot of time because
TCF does all of the follow-up, accounting and check
writing to vendors. The client gets just one invoice
from TCF.
Sounds like a quick, easy and flexible process.
Who
do I contact if I have questions or want to fill out an
application today?
If you have an interest in exploring leasing furniture,
fixture, technology and equipment, please contact
me, Dianne Tetzlaff, at 1-800 -442-7811 ext. 7447,
email me at dtetzlaff@tcfef.com or learn more and
download an application here. I look forward to
answering your questions and helping you get the
lease that meets your needs.
Thanks for sharing your time and expertise with
us
today, Dianne. It is a pleasure working with you.
