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William Phelan of PayNet on How Accurate Credit Data Aids in Defining Risk Tolerance

September 06, 2017, 07:00 AM

VIDEO INTERVIEW: William Phelan, President and Founder, PayNet, Inc. on how accurate credit data provides leasing companies the ability to better define risk tolerance.

William Phelan, President and Founder, PayNet, discusses how accurate credit data provides finance companies the assurance they need in order to provide borrowers more access to capital. According to Phelan, this advanced credit data provides finance companies with greater certainty and confidence when making loans.

In this installment of Equipment Finance Advisor’s Thought Leadership Video Series, Phelan also describes the credit gap among private businesses and why it is difficult for private companies to access capital. According to Phelan, this credit gap is causing many private companies to not invest in their companies, which ultimately can result in a loss in GDP growth.

Equipment Finance Advisor’s Thought Leadership Videos feature interviews with subject matter experts and leaders from bank-owned equipment finance companies, banks, independent commercial finance companies, consultants, service and product providers and more – offering their candid thoughts in interviews broadcast via Equipment Finance Advisor’s YouTube Channel.

William Phelan
General Manager | PayNet, Inc. an Equifax Company
William Phelan is one of the nation’s leading experts on credit for private businesses and serves as General Manager of PayNet, Inc. an Equifax Company. Phelan has grown PayNet into a major provider of credit assessments on privately held businesses by building one of the largest proprietary databases of commercial loans and leases in the U.S. and Canada. Phelan oversees PayNet’s sales, marketing, analytics and information technology functions across these markets.

In addition, he serves on several boards various industry associations such as the Innovative Lenders Platform Association, The Canadian Finance and Leasing Association, and is a member of the Small Business Council at the U.S. Chamber of Commerce. He is formerly a board member of the Equipment Leasing and Finance Association and the Seventh District Advisory Council on Agriculture, Small Business, and Labor.

His expertise has been quoted by national media outlets in Reuters, The Wall Street Journal, Bloomberg Business News, CNBC, FOX Business News and Associated Press.

As the nation’s leading small business credit expert, he regularly speaks at national events including: House Committee on Small Business, United States House of Representatives, Risk Management Association national conferences; National Association of Development Companies Conference; Equipment Leasing and Finance Association industry conferences; the Canadian Finance & Leasing Association, Lendit USA, Lend360 and Synovus Business Banking C&I Forum. He has published articles in the RMA Journal, Journal of Equipment Leasing.

Prior to co-founding PayNet, he managed investments for Trustmark Insurance Company in Lake Forest, IL. He previously worked at Dain Rauscher Securities, Ernst & Young and IBM. He has a Bachelor of Arts degree from Carleton College, an MBA from Loyola University Graduate School of Business and the Chartered Financial Analyst (CFA) designation.
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