New Foundation Study Examines Role of Independents and Reveals Secrets of Their Success

Washington, DC, February 8, 2019 –What is the domain of independent financing companies? How do independents create value and differentiate themselves from often much larger and lower rate competitors? A new study, Independents: Banking on the Non-Banks, released today by the Equipment Leasing & Finance Foundation, addresses these and other questions about this critical source of equipment finance. The in-depth study, commissioned by the Foundation, was prepared by FIC Advisors, Inc. and follows up on the Foundation’s 2011 study on independents.

More than 20 independent finance company executives were interviewed for this examination of how independents have built their current success and are preparing for future events. The study offers details concerning ways in which successful players identify the key issues that can impact their performance, engage their personnel teams in addressing them, and make informed decisions, all the time maintaining the flexibility to “pivot,” or change their course as necessary. It also includes case examples with takeaways for indepedents and the larger industry to consider.

“This study provides great insights about an industry segment that is often not uniformly or easily characterized. It’s a must read for anyone who wants to know why people are saying there has never been a better time to be an independent than right now,” said Thomas Ware, Foundation Research Committee Chair and Senior Vice President, Analytics and Product Development, PayNet, Inc.

Download the full study at All Foundation studies are available for free download from the Foundation’s online library at


The Equipment Leasing & Finance Foundation is a 501c3 non-profit organization that propels the equipment finance sector—and its people—forward through industry-specific knowledge, intelligence, and programs that contribute to industry innovation, individual careers, and the overall betterment of the equipment leasing and finance industry. The Foundation is funded through individual and corporate donations. Learn more at


Media Contact: Anneliese DeDiemar, 202-238-3425,